Imagine, if you will, a world where your work life syncs perfectly to your personal life. Not only do you get your job done, you have ample hours left to start a rollerblading street team, build a canoe, and eat a ton of self-serve frozen yogurt.
It’s not a dream. Unlimited PTO is becoming more and more of a hit among the cool kids (aka Richard Branson, Netflix, Groupon… the list goes on).
Well, not everyone’s on board. SHRM cites that less than one percent of companies have the offering. But more and more are opting for the plan in order to make their workplaces more humane.
The tides of endless summer are coming in. Here at Namely, we go unlimited PTO. And you should too. Here’s why.
Roll-Over Days = Accrued Expenses
Unused days that carry over to the next year are just checks waiting to be cashed out of your company’s pocket. Drop the whole charade and have employees take the time they need. Plus, all those last-minute December scrambles to Tijuana are no more.
Life Is Unpredictable
The 24-hour flu strikes. A spur of the moment mental health day is in order. Someone shows up at your door with an enormous cardboard check (and the year is 1996). Unlimited PTO is a rare opportunity to tune your business to the unpredictable beat of your employees’ lives. It’s the most customizable schedule you can offer as a manager.
The Work Still Gets Done
Star employees are self-starters, expert time managers, and—above all—successful at their jobs. Why would they jeopardize their career by abusing your time-off policy? Aaron Skonnard, CEO of Pluralsight, mentions on Inc. that he has a harder time encouraging employees to even take vacation rather than them taking too much. Good employees are often do-gooders.
Top Talent Loves It
It’s not to say that unlimited PTO enters your company in an elite club (although you will be sent a golden key to an undisclosed spa). But the policy helps swipe top candidates from competitors during recruitment. For now, the policy is an innovative differentiator—in a good way.
Happiness Is the Best Policy
You’ve always wanted happier employees. But you’re always asking how? Endless PTO is joy in a bottle. And the results are in that happier employees work better. Which means you’ll be happier, and then profits will improve… it’s more than a win-win. It’s like a win³. And that’s just smart business.