PTO Modifications

Almighty Beeb, can you please share your anecdotal experiences regarding any changes to your employers' standard PTO policies in light of the Covid pandemic. Regarding rollover, monetization, use it or lose it... thanks!

 

We were allowed an extension to carryover 10 extra days (May is when we get our accrurals), but had to use them before the end of the year, otherwise they are gone soon. A lot of people have been off for holidays and for burning time.

~sent from mobile

 

I run a extension shaft from the PTO on the back of the tractor out to the log splitter. It works OK.

 

This year I hit “use or lose” status for first time in my life and looked forward to taking time off for holidays to spend with my girls. With 1/20 coming up, we are not allowed any time off, so I’m losing a lot of PTO , 3 weeks worth. Our normal carry over amount remains unchanged, so ultimately I really can’t complain.

 

Entire company had the same issue as Britx so the use it or lose it deadline was extended from 12/31/20 to 3/31/21.

 

I was thinking for the mower deck but yeah, tractor was what came to mind.

 

My first thought was " I don't think modifying a PTO is a good idea ".

 

We were given 3 extra days, but was still use it or lose it. Then they told us last week that they’re going to try something new for next year. Unlimited PTO. Seems like a radical idea...we’ll see if it works.

 

That’s code for “take as much as you want but you’ll be judged and looked down upon.”

I’d much prefer a fixed amount.

 

Similar situation I'm looking into. What is your normal carry over amount?

 

240 hours

 

Thx. Am I correct in taking that to mean you may have up to that amount outstanding, with no use it or lose it, and beyond that number you do not accrue additional PTO? What happens to the balance at separation?

 

90% of the people in my company are work from home since March, the CEO said PTO rollover would not change so there's been a lot of people offline for the last several weeks.
Our rollover amount is 8 weeks which is totally ridiculous, alot of people have been keeping it to the max as we've had a few RIF's over the years (had one in July) so it's being banked like additional severance.

 

our normal carryover is 225 hours on 37.5hr. (on paper) weeks. so 6 weeks. that didn't change. still got the free floating holiday. that didn't change.

what they DID do because people weren't going anywhere, is allow a cash-in back in the summer. I cashed in like a week I think. One of my buddies cashed in like 6. Basically paid out and got taxed like a bonus typically would. One of my buddies meant to then missed the deadline and now he's taken off the last 3 weeks of the year to get down to 225 hrs. haha.

all they really changed here is nix'ing our annual review/raise for this year and next. in the past when that's happened for other reasons, they ended up combining them all in year 3 and people would get like a 8-11% raise all at once. who knows, but that's the current state of affairs.

its not really radical. a bunch of companies are already doing that.

this. maybe you don't get fired, but if you take 12 weeks off i wouldn't be surprised if somehow you never got promoted even if your work product is on par. there's a lot of ways to retaliate without ever saying anything.

 

My last two companies have done this. You technically have "unlimited" on paper, but also means they don't have to keep your PTO on the books, and don't have to pay it out when you leave.

 

This seems to me to be the only reason companies have gone to that PTO model, as already stated above unlimited is not unlimited, makes it sound good though

 

that's a big one. at my company they basically load you up for the year at the 2nd paycheck of January. which means if you time your life right, and quit right around then or the beginning of Feb., and you were carrying the max carryover from the year before, your last paycheck turns into like 6.5 paychecks. that's a large chunk of money all at once. i've been doing max carryover specifically to keep that in my back pocket, even though i have no plans on leaving. i still get 4.5 weeks to burn every year anyways, even with keeping the carryover at max, so decent enough.

 

Yes, once we’ve earned 240 hours that’s the amount we keep and start the new year off with that if you have it. Our use or lose is every hour earned after the 240. The hours that are classified as lost, essentially go to a banked
Hours system that pays people that don’t have leave built up or if they’ve used it up being out from illness’ or injury etc. Here’s my personal example:Currently have 359.5 hours of vacation. January 1, they will take 119.5 hours and leave me with 240 hours. Hope I clarified it better, it’s early and I’m not the best author as it is & Need coffee

 

At my wife's company they have a use of lose it number, I believe it's 200 hrs. But once you get over the 200 hrs they pay out the hrs at a 60% of your current pay rate. So you don't really lose the hrs but you take a hit on what the hrs are really worth.

 

Mine was "Not sure I'd do that..."