Has your company implemented a policy as part of your PTO program that allows employees to cash-out their unused/accrued balances? If so, we'd love to hear the parameters you use, your implementation process and the overall reception by employees.
Here are some specific questions we have:
- Is there a minimum or maximum PTO hours cash-out?
- Is there a minimum remaining PTO balance required?
- How often do you offer the cash-out? Once a year, twice a year, at each employee's anniversary, etc.?
- Is there a minimum amount of seniority for employees to be eligible?
- Do you allow rollover of unused PTO dollars into 401k or profit sharing accounts?