Want your employees to stop burning out, and improve their productivity?
When’s the last time you’ve updated or even created your PTO policy?
In this article, we will go over 10 ways of how you create an attractive vacation policy to improve your company’s workflow.
Keep reading to uncover the secrets behind the best vacation policies.
Benefits of a Quality PTO Policy
The importance of a PTO policy is unhinged in the extent of its benefit. If you treat your employees like adults who are entitled to their PTO at their discretion – they will be highly appreciative of this freedom.
A quality PTO policy des not enforce managers to police employees, and allows them the freedom to decide for themselves.
PTO (Paid-Time Off) allows the employer to have control over absences, which is a problem and an extenuating cost. And allows thee employee to schedule time off, in advance – which helps the employer with work coverage.
In the past, employees have been dishonest with why they took their time off so that their manager can think well of them. But a PTO policy, allows the employee to make an educated decision, with no reason for them to hide the truth.
An employer can address attendance with those who are abusing the system or having some sort of problems – instead of imposing arbitrary rules and guidelines on the employees, who attend work regularly without issue.
1. Unlimited Vacation Policy
Listen, this might seem unconventional. But you won’t be surprised when you come to realize that the majority of modern companies have an unlimited vacation policy in place. Make no mistake – this doesn’t mean that your employees are going to slack off and get paid for it.
In fact, instead of decreasing performance, it stimulates the employees to focus better, and produce quality work. As then the vacation will feel deserved, and they won’t feel bad about taking one.
2. Unlimited Sick Days
Some of the largest companies embrace an unlimited sick day policy. Why? First, they hire people they know won’t abuse the system. Second, they understand that empowering and trusting your employees – allows them to feel the presence, and value within a company.
Accountability will still be there, and the work will get done – but they can take some time off when they truly need it.
3. Holiday Company Shutdowns
If your business is one of those that close over a large holiday, make sure that is mentioned in the vacation policy. It’s better to state that employees receive certain vacation time, including holidays – instead of you receive 2 weeks vacation.
By adding holidays, you can bump up the number without actually changing the value.
If you want, add in a Disney Vacation Club membership. Who doesn’t like those? And the DVC cost is quite affordable.
4. Incremental Time Off
You can try offering one-hour increments of vacation time to your employees. For example, so if you’re employee works 30 hours per week instead of a full 40. They can use 30 hours of vacation time for an entire week off.
This little detail will go a long way.
5. Tenure = Increased Vacation Time
It’s great to attract new employees with an attractive PTO policy, however, it is even better to value your employees who work with you long-term.
For instance, if you offer only 3 weeks of vacation to a new employee, why not bump it up to 7 weeks of vacation for an employee who has worked with you for more than 5 years. And then increase it again, after 5 more.
Years of service = specialized vacation period.
6. Paid/Unpaid Sabbatical
It’s a good idea to consider allowing employees to take up to three months of unpaid sabbatical. Or even better allow them to take a paid sabbatical every 4 years.
Providing them with this benefit allows them to reset, come back fresh and ready for action. An energized and capable human being is better at work then a tired, and at loss keyboard clicker.
7. Floating Holiday
Ever heard of a floating holiday? At the greatest companies, employees receive floating holidays from the first day on the job. There is no waiting for the benefits to kick in.
And with a floating holiday, they are not locked into vacations on holidays that are meaningless to them and can take off a day when they feel like it.
8. Buy/Sell Vacation
You can try and add a buy/sell option within your vacation policy. Some companies consider this the best part of the PTO policy, and it truly works. An employee can sell their PTO hours when they need to, and buy some when they want to go for those extended travels.
9. Volunteer Days
Encourage your employees to do volunteer work, and provide them with PTO as a reward. It’s great for your business when your employees contribute to causes outside of themselves. It’s effective for team building and fosters positive engagement.
10. PTO Carryover
Many companies do not allow previous year PTO to move on to the next year. However, it’s very potent of a company to allow the PTO to move towards the next year.
However, you can limit this time, so that employees don’t stack up thousands of hours every year. It’s critical to help your employees to accumulate PTO, so they understand that even their past work is appreciated.
A Vacation Policy That Works
Now that we’ve covered the 10 ways you can create or update your PTO vacation policy, you are well on your way to accommodating your employees and improving the overall productivity of your company.
The best companies are those that get along and provide benefits to each other. Find the combination of PTO policy changes that will work best for your work environment.
Whatever you choose to do – will be best for you. If you’re interested in similar topics, check out our other blogs.
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