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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  • Hi Bryan, I've worked with a company who offered this benefit. It was a great program! Employees were able to purchase up to 5 PTO days each year and the money was donated to 1 of 5 charities that they partnered with. It was a payroll deduction. 

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    • Corin Widmeyer 

      How is the program managed?  Through corporate payroll or benefits?  Also for the donation is that good will on behalf of the company?  Or is the money going direct from employee to Charity?  This is very interesting.  I would love to know more about how it is managed.  Thank you. 

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