Yes, we do "summer hours" now year-round! 🙂 Started as summer hours, then we had to keep it because no one wanted to go back!  Most folks are now taking a 30 min lunch, instead of an hour, makes it easier to get your time in Mon-Thurs.  Fridays are flexible, some leave at noon, 1:00, 2:00... but just knowing you're not stuck in the office until 5pm on Friday, is the BEST.   And yes, we matched our PTO and Holiday pay to the new schedule.  If you want to take a Friday off, only have to use 4 hours PTO.  Same for paid holidays, if the holiday falls on a Monday, everyone gets 9 hours holiday pay, if it falls on a Friday, you only get 4 hours holiday pay.  I promise, it will be a huge moral boost!  

We did summer hours for many many years at Strategic HR just like this, before I retired. I'm happy to talk to you about the pros and cons and any other issues you may be facing from our years doing it. Feel free to email me to schedule a call Robin@HR-BA.com

I have worked at Companies who have worked 9 hours Mon-Thurs and 4 hours on Friday, as well as 4/10 schedule.  A flexible schedule like this is a fantastic and free benefit, and I have seen it as a retention tool as well! PTO is used to cover the missed normally scheduled day of work, so the concept does not change, but the number of hours needed for a day off will change. The challenges that I have seen are with holiday pay and covering Friday afternoons if the business needs staffing during normal business hours Mon-Fri. For holidays, you just need to think ahead and plan. If 8 hours of holiday pay is provided for July 4, communicate in advice if you will adjust your work schedule during the week. If coverage is needed on Friday afternoons, a rotation schedule or Tuesday-Friday schedule can be created for coverage.