Unlimited PTO?!?

[Loo.wii]

I was just offered a position at a company with unlimited PTO. Does anyone have any experience working at a company with this benefit? Whats the catch? Ive seen that this sort of benefit is common for companies in my industry but this would be my first time having this benefit afforded to me.

thoughts?

 

[isItFallYet]

My company changed to unlimited about 5 years ago. Most end up taking less, but I take much more!

 

[Roosterstraw]

Can you please explain what this even means for us blue collar folk??

 

[isItFallYet]

It means that you don’t accrue PTO weekly/monthly/annually. Most of the time it’s tied to a bonus of some sort (utilization/efficiency). For me, as long as my job is done, I can take as much time as I want.

 

[roadrunner]

The catch? The catch can be all the belly-aching management can do when they "feel" you've taken enough time off already, like 3 weeks...

 

[Loo.wii]

The catch? The catch can be all the belly-aching management can do when they "feel" you've taken enough time off already, like 3 weeks...

Before this the company standard was 5-7 weeks so I figured I’m good until then

 

[Loo.wii]

Can you please explain what this even means for us blue collar folk??

Even though the boss makes a dollar while I make a dime. I get to poop on company time

 

[Firestone]

Where do I apply to get your job, sounds pretty sweet

 

[Poser]

I interviewed for 2 jobs with unlimited PTO.
Ask how much time the people in comparable roles are taking, under what conditions PTO aid rejected and tell them what your expectations for PTO are. Don’t be conservative.

“I typically take 4 days off every sept for a hunting trip, another 10 days in Oct and 2-3 in November. I also take a few random powder days off during the winter, a 7-10 day vacation in the spring and augment all holiday weekend by 1-2 days. Of course, other days come up as well, but you can expect me to be firmly OOO for about 25-30 work days annually. Any issue with that?”

Set expectations and see what their response is. Then ask that you would like to see a guaranteed amount of days in your offer.

 

[Loo.wii]

It means that you don’t accrue PTO weekly/monthly/annually. Most of the time it’s tied to a bonus of some sort (utilization/efficiency). For me, as long as my job is done, I can take as much time as I want.

That’s the way it was conveyed to me too but it seems to good to be true

 

[Poser]

Can you please explain what this even means for us blue collar folk??

A rather new trend that can be awesome or terrible. The downside is that if you get laid off, there’s no PTO payout. Similar perks that are being offered by companies offering unlimited PTO:

-Gym membership
-Monthly stipend for personal development (books etc) of about $150
-“Heads down” Fridays with no meetings
-3 day weekend once a month for “mental health” days. Use the Friday for whatever best benefits your well being.
-100% health benefits from day 1
-100% remote from day 1

 

[madgrad02]

My company did that a few years ago... most of the folks in the leadership roles had been there for some time and salaried. I was up to 7 or 8 weeks of paid time off. Though I still take off, I'd be willing to bet it's not near the total I (and my peers) took when there was a running total on each pay stub. But at long as I get my work done and my team isn't on fire, I'm free to take FTO (flexible time off) as needed

 

[CodeMonkey]

Unlimited PTO is a way to allow the company to no longer list accrued PTO as a liability, therefore making the company look better financially.

Edited for clarification: this is because they don't have to pay out your saved up PTO when you leave the company.

 

[IdahoBeav]

Can you please explain what this even means for us blue collar folk??

It means that you must meet your production quota, but you are able to open up shop and work any time of the day you like, and you can supposedly take unlimited "time off".
I don't have have unlimited PTO, but with my accrual rate and comp time, I get as much as I need/want. I advise the blue collars to not get jealous of white collar PTO. I am almost never able to completely drop work without at least responding to emails and returning phone calls about once per day while on vacation. It sucks having to climb to mountain tops to get cell signal in the backcountry or drive down to the local town when there is no signal in base camp. I would love to be able to take a week-10 day hunting trip without any communication with my work colleagues.

 

[wmr89]

Personally, I would decide how much time I would typically be given off (4-5 weeks for me) and record it and use it every year. No carryover, no pto pay out, and no use it lose it incentives to make you take it, so my understanding is that typically companies come out ahead.

 

[eltaco]

As mentioned above, the general idea is:
- there’s no PTO payout if you’re terminated or retire out. That can be a substantial benefit depending on your tenure. Surely it’s a considerable savings for the company.
- Statistically people actually end up taking less PTO when hours aren’t flashed in front of them on a recurring basis.
- The idea that you can take off as long as you’re getting your job done is only beneficial when your workload can be completed in a reasonable amount of time. If you have constant deliverables and a backlog of work… it’s tough to argue that you’re caught up and it’s reasonable to take off for an extended period.
- If you’re not caught up on work and taking significant amounts of PTO, seems likely that is held against you. I’d definitely be sure you understand the expectation. “Unlimited” most definitely does not actually mean “unlimited”.

 

[Fowl Play]

I was just offered a position at a company with unlimited PTO. Does anyone have any experience working at a company with this benefit? Whats the catch? Ive seen that this sort of benefit is common for companies in my industry but this would be my first time having this benefit afforded to me.

thoughts?

I would definitely do my due diligence to talk to some of the employees to see how this “perk” is actually treated within the company.

Some are great, and as long as you get your work done. No one is truly tacking how much PTO you are taking.

Other companies, the “work your ass off” culture is so strong that most people are scared to use it and actually wind up using less.

Offer to take some of the people you will be working with to lunch and find out.

 

[cnelk]

Accrued PTO payout can hamstring a company’s budget if lots of people quit at the same time

Unlimited PTO alleviates that possibility

 

[Pro953]

It’s interesting in concept, but as noted above it’s crucial to have the right company culture.

My honest perspective is that it’s actually an accounting thing. As mentioned before PTO accrual is a major financial liability for many companies. Even is you cap it, they are big checks to write when employees leave with a decent balance.

For a small/med size company everyone carrying a couple weeks of PTO quickly becomes a 2-300K liability. Give everyone “unlimited” PTO and that balance sheet liability goes away.


Sent from my iPhone using Tapatalk

 

[eldeuce]

Been at this "benefit" for more than a decade. Corporate doesn't have to pay a whole team of employees to track, and they no longer have a huge stack of money in their "accounts payable" at tax time. Don't worry, it's not really unlimited and you'll probably have more work because of it. You still have to get your job done, and you will be reprimanded/fired if you abuse it. I take about 4 weeks a year, which is what most at my tenure, position do at this high-tech company....