Personal days and holidays

dmnicol12857 · February 2004

We are a small organization with approximately 90 employees. I am trying to do a survey of smaller financial companies that are open 6 days a week. What type of personal days do you offer per year if any? Are full and part time employees eligible? How many sick days do you pay per year? Are full and part time employees eligible? This year with Christmas falling on a Saturday are you giving each full time employee an additional personal day. Currently, we have no personal days and 6 sick days. Part time employees will receive pay if a holiday falls on a Saturday and it is a regular scheduled work day.

WO · February 2004

My company is not a small financial organization so not a good comparable for you. However I will offer one recommendation if you are considering changes to your paid leave policies.

Create a personal time off policy vs vacation/sick leave policies. Move away from sick leave and why an employee is absent to allowing X amount of days per year to use as needed for any personal reason. Your supervisors and managers will eventually thank you.

dmnicol12857 · February 2004

Thanks for your reply. That is what I am trying to accomplish and I totally agree!

hrbanker · February 2004

We are a financial institution with 150 employees. We moved from vac/pers/sick to Paid Time Off several years ago. Employees accrue PTO on a monthly basis. At the end of the year, any remaining days change to Carried Time Off (CTO). This is for accounting purposes, as that must be accrued as a liability.

I'll be happy to FAX or e-mail you our PTO policy if you like.

dmnicol12857 · February 2004

If you would email that to me it would be great [email]dmnicol@1stConstitutionbank.com[/email]

I really appreciate your help.

gismo · February 2004

Good morning, I would also like to set up a PTO policy instead of vac/sick time. Would you mind e-mailing your PTO/CTO policy to me as well. I appreciate your time. My e-mail address is [email]cschreter@plainscommerce.com[/email] Thank You

Dutch2 · February 2004

Dear HRBanker:
We have a very similar situation. We have around 125 employees in six branches and are also considering going to PTO program instead of the vacation and sick time we have used for many, many years. Our biggest concern is that the majority of our employees have the maximum amount of sick time we allow saved. Of course you will always have the few that seem to maintain a zero balance. Since the majority of our employees have the max. I estimate that it will costs us a bunch of dollars unless we have some type of CTO progras as well. If you do not mind, please send me your current program. Email address: [email]humanresources@callawaybank.com[/email] or fax to 573-592-6306 attention Human Resources.
Thank you so very much,
Dutch2

Elle · February 2004

We are not a financial company but we are pretty small, 26 employees. I just eliminated personal/sick/vacation time and lumped them together and now call them paid time off (PTO). I created a policy for the PTO and included procedures on how to actually utilize them and how they are earned. We give 1 wk of PTO after 90 days of employment (trial period) and then on their anniversary date we grant 3 weeks (what was 2 wks of vacation and 1 wk personal/sick time) and they have until their next anniversary date to use that, if not, they can rollover up to 1 wk into the following year.

Hope this helps, good luck!!

Roberta · February 2004

Do you realize that now with your Paid Time Off policy that you will have to pay any terminated employees for any unused accrued PTO with their last check? By staying with individual sick and vacation time, you only had to pay for vacation time at termination. Sick pay does not have to be paid out. And you will have to pay employees accrued time regardless of when they could take it, if they terminate prior to using it.

Elle · February 2004

Can I create a policy that only pays out a certain amount of those hours?

blw · February 2004

I believe this is a state regulated issue - whether or not accrued vacation/PTO has to be paid. So, check your state regulations and see whether you can do it.

That is why we have maintained separate balances.

2445428 · March 2004

In the state of Louisiana, accumulated vacation time must be paid at termination of employment. That is why we changed our policy to 2 types of PTO; 1 is vacation paid leave and it must be used by the end of the year or it is lost, and the other is personal paid leave which is accumulated at 7 hrs a month. Our personal paid leave can accumulate and roll-over up to a maximum of 630 hours. Personal paid leave does not have to be paid at termination.

Hope this helps.

Personal days and holidays

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