Get This: Some Companies Offer Unlimited Personal Time Off! Here’s the Catch: Survey Says Perk is Among Minority of Employers
Want more vacation time? As PTO (paid time off or personal time off) requests kick into high gear at your employer, chances are several employees may be counting their days to ensure every moment is spent. Even if they need a mental health day for a staycation, time is typically tracked and accounted for, and prudently used.
Well, this piece in today’s New York Post got us thinking. How sweet would it be to have unlimited PTO? For instance, ZocDoc, the NYC-based online medical appointment Web site, offers unlimited PTO. This includes vacation, personal and sick days without an old-fashioned accrual system.
Don’t get too excited. The piece pointed out last year’s survey by the Society of Human Resources indicated only one percent of businesses across the country actually offer this perk to its employees.
In addition to ZocDoc, some companies in the small minority include Gilt Groupe, Netflix and Fab.com. From their point of view, it’s a nod to entrepreneurship as ZocDoc’s director of people told the newspaper it’s not unlike the company’s core values of “acting like an owner of the company, and using your personal time like you would use the company’s time.”
Employees need to be responsible about wielding such power and it sounds like there may be some stipulations such as team members having to give notice to their managers as soon as possible and being responsible by not jetting away during any ol’ time. They should check the team and company calendar to ensure it’s not conflicting with an inappropriate time, and yes, they should also get proper coverage during their absence.
The only drawback we can see occurs when you actually leave an employer with this golden policy and revert to an employer with a brick and mortar policy as in 10 or 15 days per calendar year. Hmmm.