People Operations | Management

PTO Banks

PTO banks refer to policies that combine sick leave and vacation leave (and, for some employers, company holidays). They provide ease of administration by accruing and tracking only one accrued time off benefit.

Although PTO may be used for illness, a PTO plan must comply with the requirements of vacation leave policies. The rationale is that the PTO policy allows the employee the latitude to take time off that is not contingent on particular conditions. (Also see the discussion of   Kin Care.)