News You Can Use: PTO gaining strength

Despite the lagging economy, results from the new Culpepper’s Benefits Survey indicate that U.S. and Canadian employers are making their PTO plans more robust.

Stats include:

• 41% of companies have a PTO bank model with a pool of days.
• 18% of companies allow employees to cash out unused vacation and PTO days.
• 52% of companies allow new full-time employees to take PTO immediately upon hire.
• A third of companies require new employees to wait over 30 days before they can take PTO.
• The most common schedule for accruing PTO for existing full-time employees is bi-weekly.