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Benefits August 28, 2003
Employers Turn To Paid Time Off In Lieu of Vacation
August 28, 2003 (PLANSPONSOR.com) - Paid time off
plans have begun to take precedence over the segregated paid
vacation idea.
Reported by Eric Hazard
Workers with less than one year of experience received 13.24 paid time off days, compared with only 6.28 days of paid vacation. Further, as tenure increases so does paid benefit days, culminating with 10 or more years experience receiving 25.30 paid time off days and 18.65 paid vacation days, according to a Society of Human Resource Managers survey.
After those with less than a year, 16.58 paid time
off days and 10.53 paid vacation days were given to those
workers between one and two years experience, followed
by:
- Two to three years – 17.40 paid time off days; 11.01 paid vacation days
- Three to five years – 18.55 paid time off days; 12.02 paid vacation days.
The survey was conducted from August 5-12 and is based on the responses of 341 randomly selected HR professionals. Paid time off is defined as a benefit where sick leave, vacation leave and personal days are combined in one plan.