My pay grade (grades 9 & up) is being changed to unlimited time off for 2023. I assume that is so they don’t have to pay out any unused time off upon separation. What a crock!
Hoping they don’t also alter the severance pay policy. Good luck to all of the remaining astronauts.
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Curious how unlimited and R&R is going to work with RTO and badge swipes.
Your "Salary Grade" can be found in Workday. Look under your Profile information. The "Salary Grade" field is listed under "Compensation".
The unlimited PTO idea came from Tony Marino. They did it at BOA when he was a junior HR puppy there and he understood the reasoning. It’s not to benefit the employee it’s to save on payouts at termination. However some states don’t permit that and require accrued days so check your jurisdictions.
Since I was moved to unlimited time off a few years ago my experience has shown it is more appropriately called unlimited work from phone. I try my best to disconnect, I leave my laptop at the office so there is no chance I can log in, I turn off all work apps and restrict them from using data so they can't check-in. Unfortunately my boss and team all have my personal number and to them its perfectly acceptable to call me all hours to ask where the red stapler is. I've had conversations with my boss about it and his response is to say that we have a business to run and if I want a job when I come back then I have to give a little here and there.
This isn't just a Fiserv thing. It's happening everywhere. No sense saving time until Nov/Dec. Anyone new to this plan should start taking vacation regularly throughout the year (at least a week every quarter).
You have to hand it to whatever business leader first floated the idea and promoted it as a "benefit". That was a stroke of genius. It's right up there with calling WFH a "benefit", when most of those folks put in far more hours.
This is one case where I wish I were a public employee. I have friends approaching retirement age who have a 1000+ hours of unused vacation/sick/personal time.
Doesn’t matter. When I resigned, even without unlimited PTO, they didn’t pay out PTO days. It’s in the policy that they do not pay out.
It is in the benefits book that was mailed out. Not exactly hidden info
Sadly I have to learn about this from this site and not from my manager. Typical of mid to upper management now. Heck, I wonder if my manager even knows my name.
What are the grade levels? For example, what grade level would a Senior Associate and a Senior Professional I be?
When my pay grade was jumped to an 11 and I had unlimited time off. I took every other week off. I knew my job was ending on June 30 so I started it in February taking every other week off. I took the last two weeks of June off came in Two days before my last day to get my severance information signed the documentation get the packing slip information to send my hardware back signed off and that was it.
I will be taking off 2 weeks each month, starting January 2023. Me and one other person I work with will BOTH be doing this AND getting days off approved!! Heck, I got over 6 weeks last year and have been around long enough. Have sadly watched how FB has destroyed the company that my coworkers and I built for the past 20-30 years.
Yes, I am very aware unlimited is worse than having an allocated number of days off. But since as a remote worker I will likely be laid off by end of Q1 2023, it doesn’t much matter at this point.
Unlimited time off is not a benefit to the employee
Good luck getting approved to use it. People I know that have it now take less vacation than before unlimited started
All Managers and above, and all individual contributors at "Advisory" level already received this benefit starting last year. Most of the time, it also means that you don't have to get approval from your supervisor - or even notify them - for a solitary day off; just put OoO reply in Outlook and make yourself an R&R appointment. Multiple, sequential days off has been the same as always, though.
Last I knew they didnt pay it out unless the state required it anyway. Sounds like you get to take some extra time off. Congrats on your win. Wish that was a few pay levels lower.