Academic Practice
From the Human Resources Network eGroup
Quote of Note
"I converted our practice to PTO last year. There were additional costs that arose from this. When an employee terminates, you have to pay out the entire PTO, not just the portion you consider vacation. I also found that the "good" employees used more PTO for vacation time, meaning they didn't save the PTO that was previously sick time. I also found that employees who call in sick fairly often used up all of their PTO on sick calls very early in the year. Previously, if an employee was out of sick time, he/she was not forced to use vacation time; [it] went unpaid. What the PTO change did was front load the year with [paid] PTO.
"On approximately $1.7 million of annual staff salaries (no providers [included]), I estimated we incurred an additional $10,000 in expenses due to this change. Not a huge [percentage] of the total, but $10,000 is still $10,000!"
Inside Academic Practice
Education
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