Of 360 large and small organizations recently surveyed, 17% currently use paid-time-off (PTO) banks; 13% are considering them. Eighty-six percent of those with PTOs report that the programs meet their objectives, which include reducing unscheduled absenteeism and giving employees more flexibility and personal responsibility.
Among organizations with PTOs, unscheduled absenteeism --
Stayed the same 16%
Among organizations with PTOs, cost of total time off --
Stayed the same 25%
Source: Hewitt Associates, Lincolnshire, Ill., 1994.