Paid Time-Off Banks: Save Your Business Time, Money, and Headaches

Tuesday, July 18, 2017 at 1pm ET           Duration: 90 minutes

When you’re employees take unexpected days off it can be frustrating at the very least. You’re left either scrambling to cover their work, or risking missed deadlines, unmet quotas, and broken promises. And when the problem gets out of hand, it can severely damage productivity, performance, and revenue.

Companies can’t stop people from missing work, but you CAN do something to minimize the “unexpected” part of these absences – and avoid the administrative hassle keeping track of sick days, personal days, and vacation time.

It’s called the Paid Time-Off Bank. (more details below)


WHY ATTEND

High-performing organizations are increasingly making the switch to a PTO “bank” system that combines all time off (sick days, vacation, personal days, etc.) into one group that employees can use however they’d like (with a few caveats, of course).

Plus, PTO Banks offer a cost-effective competitive edge in the hiring market. Companies who offer a chunk of PTO to potential employees, rather than rattling off a laundry list of types of time off, are often seen by candidates as more flexible and contemporary.

But warning: PTO Banks aren’t for every workplace. While a PTO plan has advantages for employers and employees alike, it also comes with its share of challenges, both legal and practical.

This program will give you the facts you need to decide if it’s time to switch to a PTO Bank system.

LEARNING OBJECTIVES

You’ll learn how to: 

  • Balance the gain for the organization (fewer surprise absences, diminished work load from micromanaging time off) with the gain for employees (added flexibility and privacy)
  • Evaluate the total potential impact to your organization on every level and in every department.
  • Connect PTO banks with your recruitment and retention efforts by adding flexibility to your organization’s “employment brand”
  • Debunk the most common myths associated with PTO banks and understand the financial and personal realities behind them
  • Evaluate up-and-coming trends in time off, like sharing PTO and unlimited PTO
  • 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 of their PTO for vacation and then get sick)
  • Determine when an employee’s PTO crosses over into FMLA
  • Determine if you’re legally required to pay out all unused PTO days at termination - and options for allowing employees to cash in, cash out, or roll over their PTO

ABOUT THE SPEAKER

Jennifer L. Berman is an attorney who has provided Human Resources Consulting services to organizations since 1995. Jennifer was the Managing Director for the HR Advisory & Training Services group of CBIZ from 2005 through 2009. In April, 2009, Jennifer established OAU Consulting to address HR issues challenging organizations in a new economy. Jennifer has extensive experience consulting to middle market clients in a wide range of industries, including technology, real estate, government, construction services, agriculture, publishing, manufacturing, education, distribution, energy, advertising, banking, professional services, travel, graphic arts and not-for-profit. Jennifer received her law degree from DePaul University College of Law and her undergraduate degree from Newcomb College of Tulane University. Jennifer was admitted to both the Illinois and Federal bars in 1994 and received SPHR certification in 2001. Jennifer has been a featured speaker, commentator and panelist for national, regional and local associations, organizations and publications including MSNBC, Wall Street Journal, New York Times, WGN, San Jose Mercury News and the Chicago Tribune.

Certification

This program has been approved for 1.5 recertification credit hour(s) through the HR Certification Institute (HRCI) & Society for Human Resource Management (SHRM).

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Participation in the live webinar + Full MP4 Recording. For recording, choose digital download or CD-ROM by mail.

Event Package

Event Value Pack

Participation in the live webinar + Full MP4 Recording + Audio-only MP3 recording. For recordings, choose digital download or CD-ROM by mail.

What You Get With Each Option close

Live Recording

Live Only

Participation in the live upcoming webinar

Recording

Recording Only

Full MP4 recording of webinar, including Q&A. Choose digital download or CD-ROM by mail.

Live and Recording

Live + Recording

Participation in the live webinar + Full MP4 Recording. For recording, choose digital download or CD-ROM by mail.

Event Package

Event Value Pack

Participation in the live webinar + Full MP4 Recording + Audio-only MP3 recording. For recordings, choose digital download or CD-ROM by mail.

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