Developing a Personalized PTO Plan for Your Business

Developing a Personalized PTO Plan for Your Business

PTO Plans

 

PTO Plans

According to United States Federal law, employers are not required to provide paid time off to their employees. However, many employees and workers feel that it is preferential to work at a company that offers PTO in some form. If given a choice to sign on with a company that does not offer PTO, potential employees may choose to explore other options if they are available. A good PTO plan boosts morale and encourages potential employees.

When constructing your company’s paid overtime plan you will find there are relatively few laws governing how it should be put into place. On the one hand, this is a good thing because it allows you to be flexible in the development of your plan and find something you feel works for your company on an individual level. However, it can also be overwhelming as there is no clear guide or structure to follow when setting up a PTO plan. This article will serve as a guide to help you as you start to think about developing a unique PTO plan for your company.

 

Types of paid time off

PTO Categories

Generally speaking, there are two distinct types of PTO available to employees. The first type of paid leave is a long term and designed to provide employees with relief and support while dealing with major events in their lives. This includes pregnancy, death of a family member, major injury, or legal obligations such as jury duty. This category of PTO is designed with the understanding that it will only be used once or twice over the course of an individual’s turn of employment. As such, setting up a structure and guidelines for this type of paid time off is relatively simple and straightforward.

A second type of PTO is more varied. It is designed to provide for short term absences. These are the kinds of things that crop up suddenly and need to be dealt with. This includes things like holidays, sick days, vacations, and personal time. Generally speaking, the idea is to provide workers with a set number of days and allowed them to choose which situations are a valid use of their allotted PTO.

Because of the first category of paid time off is so straightforward and the second category is so varied most of the suggestions listed below will be relevant only to the second category of PTO.

 

PTO Bank

PTO Banks

One method of increasing popularity is to provide each employee with a single block of all purpose PTO days to pull from. This is referred to as a PTO Bank, since days are “stored up” and then withdrawn at the employees discretion. This is useful for a number of reasons. For one, it is straightforward and efficient requiring little regulation and management.

In addition, it allows employees a level of discretion. The employer need not embroil themselves in the lives of their employees and the workers, in turn, do not have to feel that they must justify themselves to their employer by divulging personal information which they might otherwise prefer to keep to themselves.

Using this method, as long as a worker is responsible in their use of PTO they can apply their time off to any situation that arises without having to explain their motivations or personal situation. It is also good for the employer because it takes judgments and personal feelings out of the equation. If an employee has no paid time off left in their bank than they cannot use it, no matter the situation. It creates an efficient and reliable system on which to determine individual PTO requests.

It creates a sense of equality and fairness among employees and reduces the number of false sick days, which occur when workers are given a set number of sick days which they do not use for their intended purpose.

 

Use PTO

PTO Payouts

It is also important to consider whether acquired days of PTO should be paid out or carried over if gone unused for long periods of time.

Typically a payout is received when an employee leaves a company. If the employee did not take advantage of their allotted PTO then the amount that would have gone to cover their time off is returned to them in a bulk sum. Depending on the employee, this can result in rather large payouts to individuals that are no longer working at the company. However, it also reinforces good attendance since employees who operate under a “use it or lose it” type of system are more likely to take days off that they do not need.

Choosing which categories and methods to use is a decision that each workplace will have to make on its own. However, this article hopefully provides some good ideas to help you build a base for your new PTO structure.

 

 

Article provided by NECHES FCU, an Equal Employment Opportunity Employer.

Neches FCU is a Texas credit union and has a courteous and attentive team of professionals ready to provide services to our members.
When its doors open at any of the several service outlets, the core aim of “Ultimate Member Satisfaction” becomes the sole focus for every staff member. They are well-known for a personal, dynamic and enthusiastic work atmosphere, delivering a memorable service experience, and where clients are known by name.
Neches FCU has approximately $438 Million in assets with over 45,000 members. Neches Federal Credit Union is recognized by members and the business community as one of the top credit unions in texas and an actively involved partner, helping our Family, Friends and Community!

The Unstoppable Personality in Modern Entrepreneurs

The Unstoppable Personality in Entrepreneurs

Unstoppable Personality
Unstoppable Personality

Motivation and Personalities

There are two very contrasting types of personalities. It has been noted that one particular type of personality is unstoppable when it comes to being an entrepreneur. There is the type A personality and the type B personality. It has been claimed that there are at least 12 reasons that a type A personality will prove to be unstoppable. There are some interesting contrasts that are associated with the two groups of personalities.

Type A personality

About Type “A” personality

These are the entrepreneurs who simply can’t be stopped. Some of the traits that a type A entrepreneur will possess include the following:
* Lofty goals
* Highly motivated
* The ability to go after anything that they desire

Type B personality

 

About Type “B” personality

The type B personality has some very different personality traits. These traits contrast the type A personality. The type B traits include the following:
* A laid back style
* A lowered level of self-motivation
* They can operate at a low stress level

The Type “A” Entrepreneur

There are several reasons that the type A Entrepreneur simply can’t be stopped. The following are some of the reasons. The following are the reasons that the type A entrepreneur will be unstoppable. These include:

Career is a priority

*The type A personality often makes their career a number one priority:

This is a personality that is known to make their careers the main focus of their lives. Their relationships and personal lives come second to career. This may mean that the social interaction may have a significant drop. The type A may be willing to sacrifice for the overall good of their career and business goals.

*The type A may find it difficult to turn off their work mode:

The type A personality does feel more at ease and comfortable working as opposed to shutting down and relaxing.

*The love of a to-do list:

The type A personality loves to create a to-do list. This enables them to attack every task on a one by one basis. This leaves the type A with the ability to figure out exactly what items need to be done next.

*Very timely:

The type A personality is always on time. They will show up and expect everyone else to also be on time.

*Time is not to be wasted:

Type A’s do not waste any time. Procrastination is not within the vocabulary of the type A personality.

Everything is possible

*Everything can be done:

A type A does not accept the idea that something cannot be done. The type A’s are certain and confident that anything can be accomplished.

*The perfectionist:

Less than perfect is not acceptable to the type A personality. Persistence will get every job done.

*They will plan and reach their goals:

The type A’s will have defined goals that have a start and a finish. A solid plan will be followed and incorporated.

Be a Problem Solver

*Problem solvers:

The type A personality has a firm belief in their own abilities. This is why they are considered to be great problem solvers. They will come up with workable solutions

*Passionate in every way:

The type A personality will find something that they are passionate about. They will then devote much tune and energy to the projects that they are passionate about. Hard work and deep feelings equals passion.

*Efficient:

The type A personality is also very efficient. This is because they are always on time, perfectionists, will not waste time, and are constantly planning. This equals efficiency in every way.

*A strong and solid focus:

The type A personality will give 100 percent focus to everything they do. They have the ability to block out any distractions that might interfere with their creativity. A laser focus will get every job done.

Unstoppable

 

The Unstoppable

The entrepreneur who is a type A personality may just be considered unstoppable in many ways. Building a company can be done by this entrepreneur. The above reasons are what makes the type A personality tick. This is the type of personality that does have the ability to be a great entrepreneur in every way.

Personality Traits of Entrepreneurs

 

The Interesting Personality Traits

There are so many interesting personality traits that make the type A personality thrive and succeed. The type A personality does face insecurities and frustrations like everyone else does. This personality will deal with all of the bumps in the road. This is a personality that chooses to stay focused and reach their goals within the world of entrepreneurship. The intriguing personality traits make the type A personality very interesting and unstoppable.

Hopefully, this article provided some valuable insights for you.
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