Unlimited paid time off (PTO) has quickly become one of the most popular benefits in the modern workplace, with companies like Glassdoor, Dropbox, and General Electric getting lots of attention around their unlimited policies. So what is unlimited PTO and how can companies create a policy that maximizes the benefits for everyone? We’ll dig into the ins and outs of implementing an effective unlimited vacation policy.
If there’s such a thing as a human resources boogeyman, this is it. There are few things that strike fear into the hearts of HR leaders quite like open enrollment, or the sliver of time employees have to select their benefits each year. While your actual enrollment period rarely extends beyond a few weeks, behind-the-scenes planning can take as long as six months. Adding insult to injury, 50 percent of employees will rate your efforts as average or worse.
Company culture has become the most important factor in attracting and retaining employees, so it’s more crucial than ever to offer perks that resonate. As more companies restructure their benefits offerings, many are turning to creative perks to showcase their culture, attract prospective employees, and increase employee happiness.