The phrase “time off” can put a smile on the face of almost anyone with a job. When you place the word “paid” before it, the smile gets broader and the daydreaming begins. There is another word that, when included at the beginning of the phrase, may be the most powerful yet. That word is “unlimited.”
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Unlimited paid time off (PTO) is a concept that is reaching more employees today than ever before. It’s another aspect of a work culture that is increasingly flexible, a way to attract the best and brightest (and perhaps the most difficult to impress) in the workforce.
Although unlimited paid time off seems like a fabulous dream for employees, it may be viewed with the fear and trepidation more akin to a nightmare by employers. Is it all it’s cracked up to be? What are some of the reasons it works—or that it doesn’t?
Debbi Davidson, CCP, GRP, and Marina Galatro, PHR-CA, SHRM-CP, both from Willis Towers Watson (WTW), know the answers. Davidson is national practice leader, HR partner, and Galatro is senior HR partner consultant at the firm.