Sick Leave

HollyatSouthEastBank

Does anyone have a sick leave policy that includes a buyback program? Can you share how it works? I looked at the one in the HR policies on this website, but looking for more ideas.

We now let them accrue 12 days per year. We are thinking about adding a maximum number of days you can accrue. We have long term disability that starts after 90 days, but we would like to offer a way to encourage employees to not just blow their sick days because they have them.....

ACU Frank

At the end of the calendar year, employees are allowed at their option to cash any sick time over 160 hours, at a 50% rate. They are required to cash in any sick time over 320 hours - that's the most we allow to carry over.

Our disability plan kicks in after four weeks, so we want to encourage employees to have at least enough to bridge that... hence the 160 hours.

NaeNae55

We only have a PTO plan, but we allow buybacks on it. Employees are allowed to do a buyback once per calendar year. Employees must have a minimum of 160 hours in their bank to do a buyback, and has to buy PTO in 8 hour increments. Buy backs are paid at 50%, and the employee must leave a balance of 80 hours in their bank.

HollyatSouthEastBank

How many days do your employees accrue each year with your PTO plan?

NaeNae55

0-1 Years 144 hours 276 max
1-3 Years 192 hours 368 max
3-14 Years 232 hours 445 max
15 or more 272 hours 521 max

Our PTO plan includes what used to be sick, vacation, and 2 days of personal leave. 6 days of holiday pay are handled separately.