Say good buy to 4 weeks paid PTO now...
Companies move to unlimited time off to save money as most people will take less time off moving forward now...
16 replies (most recent on top)
Very normal. PTO will be a thing of the past for all companies in the next few years. US based as Europe only works 60% of the year.
I had unlimited PTO with my previous employer and never had any issue taking 4 to 5 weeks off each year. It is up to you to take time off.
What I find ridiculous is people unable to take more than 1 or 2 weeks off in a year. There is a big taboo about PTO in the USA. Maybe it is time to change mindset
Note - unlimited PTO will only be for US employees. Confirmed in the Leader Check in with a follow up email directly to leaders of non-US employees
I'd be very curious to know how this impacts Time2Give (assuming I'm still here to care...) if this goes through. Do I need to go ahead and burn that while it is a separate category, in other words?
there's more guilt to use PTO and you're sometimes compared to your peers on who is taking too much
Exactly.
It's a scam to save money. Unfortunate that employees don't revolt.
Unlimited PTO is 100% a Scam. Employers know that good employees will not abuse. Bad employees will and get let go or quit eventually (they hope). Either way, the company doesn't lose anything and adds more money to it's bottom line. Corporate Greed 100% and it goes back to the Executive team. Reveals the heart of people. This will affect the stock price long term. Some executive coward pushed the idea and the other weak executives are going along with it. Robbing the employees. Sc-m Bags.
Can't they force you to consume your accumulated PTO before implementing this ?
No, they just pay out whatever PTO was accumulated as of 23rd Sept (pay out day is Oct 18th). Any PTO after Sep 23 will be automatically converted to the new system.
Let's not forget about "the shutdown" ... 😂🤣😛
Nothing new here, many top firms do that.
Can't they force you to consume your accumulated PTO before implementing this ?
So since the LR date seems to be pushed that could be a good strategy for them
Make the date end of October
Force all the people you want to let go take their accumulated time off.
yes, balance to be paid out on Oct 18th
Yes confirmed
Is this confirmed?
I’ve heard of many companies who had unlimited PTO and actually went back to accrued because employees didn’t take enough time off. I think there may be data that supports this.
Not that the ELT care though.
Are they paying out the balances before implementing? I left CSCO on my own accord earlier this year (February) and had 240 hours of PTO, it made for a nice parting gift on that last day. My new company has Unlimited PTO, and I agree, it's mostly a trick to have employers not have to pay out. Also, there's more guilt to use PTO and you're sometimes compared to your peers on who is taking too much, etc. Even the handbook and managerial guides have suggested use which is usually in the 2-4 week window. It's pretty much all downside except for maybe someone who needs PTO shortly after starting employment.