People are increasingly paying more attention to how their jobs affect their health. They want a healthier work-life balance that includes more paid time off (PTO) and are willing to change jobs to get paid sick days and more vacation time.
Paid time off refers to planned time away from your job where you still receive pay. Your employee handbook or contract will outline how many hours you have and how this time is earned or accrued.
Your vacation time is the number of PTO hours or days you can take off from your regular work schedule. Companies usually try to offer paid and unpaid vacation time to their employees.
PTO and vacation time are often used interchangeably but are two different types of time off that your employer can offer. What you receive depends on the structure of the company.
What About Unlimited Paid Time Off?
Unlimited PTO is another benefit that some employers have started to offer. This trust-based structure allows people to take time off when they need it. However, there is no cap on the number of days an employee can take.
Although one study found the pandemic prevented 92% of Americans from taking vacations, eligible employees weren’t using their PTO long before the pandemic hit.