Buying Vacation Time

Hello- I am curious if anyone has experience in the space of allowing employee's to buy vacation time each year? What does it look like? Do you have a cut off time each year they can do this? Do you payroll deduct their hourly/salary etc? 

Thank you!

Bryan

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  • Hi Bryan. My current Company allows team members to see PTO during open enrollment. I have seen PTO purchase at a previous Company during open enrollment, but I don't recall seeing PTO sell during open enrollment until now.  PTO payout is early in the following year. I like that there is a window and process with established deadlines during open enrollment!

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    • Bonita Martin Are folks allowed to buy time off for the year? We have had a few inquire about buying an additional week off a year, and wanting to have it payroll deducted. 

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    • Bryan Baumgardner at the Company that PTO can be sold, it cannot be bought. A different Company allowed employees to purchase PTO, also during open enrollment. Interesting that you could not buy and sell at the same Company! 

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  • I am interested in this concept. How big is your company Bryan?

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  • Right around 100 employees. Concept would be to essentially payroll deduct for the week of vacation. I think implementing wouldn't be that crazy, but would need some guard rails. 

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