What is it Really Like to Have Unlimited PTO?
Join us on January 19 for a one-hour MAPCast on what many call unlimited PTO, but let’s call it what it really is though, discretionary time off. Many staff hear the term and think it’s a joke and after the initial shock, come the questions and the wonder from firm managers as to how to manage this kind of policy.
Traditional time-off policies consist of a set number of paid days off, which staff can use at their discretion. They accrue so many weeks of paid time off (PTO) per year, depending on their level and job tenure. Today, firms are questioning whether their current PTO policies match their culture. They trust their staff to get their work done and an “unlimited PTO policy” seems like a natural progressive fit for many. In this one-hour MAPCast, a panel of CPAFMA members will explain where their firms are with time off policies. Kim Fitzgerald, PAFM, Firm Administrator with Squire, Lemkin + Company, LLP will explain the due diligence she has taken in looking at various progressive PTO policies for her firm over the last few months; Jeanie Price, PAFM, Partner with DeLeon & Stang, CPAs & Advisors recently adopted a Discretionary Time Off policy and will review their implementation process and the reactions from both their staff and leadership; and Larry Sheftel, PHR, SHRM-CP, PAFM, Vice President-Human Resources with Aprio will share his support for their DTO policy and why their firm was one of the early adopters of the progressive policy.
This session will explain why metrics are a must to determine success of such a policy, the need for accountability and a people-friendly policy that works within the firm’s culture and why communication and technology must be in place well in advance. Other key factors include a well done transition plan including expectations. Participants will walk away with a draft discretionary time off policy as well as answers to frequently asked questions and a calculator showing how much a firm can save with a DTO policy.
During this session participants will learn how to determine the success of a discretionary time off policy, hear about the pros and cons to discretionary time off policies and figure out how to transition from a traditional paid time off policy to a more progressive discretionary time off policy.