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September 12, 2011

Paid Holidays and PTO – What’s Going On?

Filed under: General HR Buzz1:00 pm

Have you ever wondered if your organization is competitive in their holiday offerings?  Maybe you have thought about changing from the traditional “vacation/sick leave banks” and using a Paid Time Off (PTO) bank instead.   Thanks to a survey by BLR and the HR Daily Advisor, we have some data to share with you.    Approximately 905 participated in the on-line survey.  First, the holiday breakdown:

  • Over 90% of respondents offer New Year’s Day, Memorial Day, Independence Day, Labor Day, and Thanksgiving as paid holidays
  • 81% of respondents will offer the Monday after Christmas (December 26), which also is Boxing Day
  • 65% of respondents offer the Day after Thanksgiving
  • In the 30% range are Washington’s Birthday/President’s Day, Good Friday, December 23, and Christmas Eve
  • And the bottom of the list (ranging from 1% to 14%) include Lincoln’s Birthday, Rosh Hashana, Yom Kippur, Columbus Day, Election Day, Veterans Day, Employee’s Birthday, other special day

It seems the trend to move to PTO is increasing as 58% of responding companies have PTO programs.  They reported that PTO time can be used for vacation, sick leave, and personal days, with 42% of the respondents including care for dependents.

Most of the respondents (78%) allow PTO days to be carried over from year to year with a cap of the number of days that can be accumulated.

  • 30% – Cap at 30-59 days
  • 28% – Cap at 20-29 days

If you have 5 years of service, 38% offer 11-19 days of PTO, and about 30% offer 20-24 days.

Source:  BLR, HR Daily Advisor


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