Paid Time-Off Banks: Can They Save You Time, Money, and Headaches?
|
|
You and your company’s managers know how frustrating it is when workers take unexpected days off. You either have to scramble to find temp help, push your staffs to pick up the slack, or risk missing critical deadlines and production quotas.
Companies can't stop people from missing work, but you CAN do something to control the "unexpected" part of these absences - and avoid the administrative hassle of trying to keep track of sick leave, personal days, vacation time, etc.
The solution: Paid Time-Off Banks – a system that combines all time off (sick days, vacation, personal days, etc.) into one "bank" that employees can use however they'd like.
Here's a fact that might surprise you: Two out of three employees who don't show up for work aren't staying home because they're sick. They're missing work to handle personal matters or because they just need a "mental health" day. In many cases, these missed days could have easily planned in advance – without the last-minute "I'm sick today … cough, cough" phone calls.
But PTO Banks aren't for everyone. While a PTO plan has advantages for both employers and employees, it also comes with its share of challenges. This program will give you the facts you need to make an informed decision.
|
Learning Objectives:
- Balance the gain for the organization (diminished time spent micromanaging the time of employees) with the gain for employees (added flexibility and privacy).
- Connect PTO banks with your recruitment and retention efforts by adding flexibility to your organization's "employer brand".
- Debunk the most common myths associated with PTO banks and understand the financial and personal realities behind them.
- Perform a financial impact review of a change to a PTO plan.
- Assess compliance issues regarding implementation.
- Manage employee relations issues associated with the change.
- Manage the downside of the equation (for example, employees who use all their days for vacation and then end up taking additional unpaid leave when they get sick).
- Determine when an employee's PTO crosses over into taking time off for a serious illness that is covered by FMLA.
- Determine if you're legally required to pay out all unused PTO days at termination -- and how employees can cash in, cash out, or roll over their PTO.
Click Here to Order |
|
Presented by:
Kevin P. Nussbaum
President
CBIZ Human Capital Services
Kevin P. Nussbaum, SPHR, CPA is the President of CBIZ Human Capital Services and founded the practice for the Firm in early 1993. Kevin has over 23 years of experience in the area of human resources. His areas of emphasis include expatriate compensation and designing innovative compensation, benefits, and general human resources programs for both taxable and tax-exempt entities. In working with organizations as a strategic partner in the human resources arena, Kevin has guided clients through complex issues related to compensation plan design, incentives and pay-for-performance, benefits analysis, succession planning, labor compliance and more.
Jennifer Berman
Managing Director, HR Advisory & Training Services
CBIZ Human Capital Services
Jennifer Berman, J.D., SPHR is Managing Director, HR Advisory & Training Services for CBIZ Human Capital Services. Jennifer is an attorney who has provided Human Resources Consulting services to companies and organizations since 1995. In 2005, Jennifer assumed national responsibility for all general HR Consulting Services provided by CBIZ Human Capital Services as Managing Director for the HR Advisory & Training Services group.
Jennifer is admitted to both the Illinois and Federal bars, and is a member of the Labor & Employment Law committees of both the American Bar Association and the Chicago Bar Association.
Click Here to Order
CDRom + Transcript (PDF) + Audio CD: $319.00
CDRom Only: $217.00
Audio CD Only: $199.00
Written Transcript Only: $198.00
Questions About this AudioConference CD? Call 1-800-431-7571
|
