Recruiting Trouble? Try Adding PTO.MGR Accounting Recruiters in
Not long ago an employer made the comment that they had filled a position that had been difficult to fill, and they had added an extra week of PTO in order to close the deal. That conversation sparked the idea for this post.
PTO, or paid-time-off, is one of the easiest benefits to improve; however, it’s not something that many employers think about when in the hiring process. However, PTO is a benefit that has high value in the eyes of today’s employee yet has minimal hard costs to the employer.
Some of the objections to changing a PTO plan, and thoughts on each, could be:
- “It’s expensive” – Actually it isn’t expensive in the form of hard dollars. Unless you pay out unused PTO at some point, there really is no hard cost to the additional time off. And if you do have a PTO pay-out option, that is something you could consider altering as well – perhaps only paying out a portion of the time, or increasing the carry-over allowance to negate any extra costs.
- “People only care about money” – Not true in today’s market! As long as the position has a reasonable salary level for the duties involved, employees tend to value flexibility more than additional income. No one would turn down a raise, but their expression lights up a whole lot more when you grant them extra time off.
- “But our customers won’t be serviced well” – Also not necessarily true. It’s possible to set the expectation that the job must get done regardless of whether or not an employee is at the office. If someone wants to take time off and knows they must take care of the customer as their first priority, they will find a way to do both.
- “If I do it for one, I have to do it for everyone” – Maybe, maybe not. You should be careful treating employees differently, but there are ways to have multiple levels of paid-time-off plans. In my opinion, the better choice though is simply to extend the benefit to everyone, thereby increasing overall morale instead of possibly creating a feeling of unfair treatment.
- “But I need people here, quality will suffer, etc.” – There again, probably not. As long as you have other policies in place to maintain your service quality, the company will likely operate smoother. Happier employees tend to do a better job servicing customers. As long as the quality remains and customers are happy, you are likely not to notice the additional time out of the office.
There are possibly many more concerns about increasing paid-time-off for employees, but the reality is that it rarely causes issues as long as other customer-focused policies are in place. And in today’s market, even just a few additional days of vacation can make a huge difference in whether or not you land the best candidate available for your open position.
I wish you the best in your business and in all your searches.
Mark Goldman CPA