{ "media_type": "text", "post_content": "EY moves to unlimited PTO and adds a bunch more holidays. Your move, KPMG. ❤️❤️❤️", "post_id": "5f7c806822a876001a97133d", "reply_count": 115, "vote_count": 109, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

EY moves to unlimited PTO and adds a bunch more holidays. Your move, KPMG. ❤️❤️❤️

likefunnyhelpfuluplifting
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Unlimited PTO is a cost cutting measure. Everyone knows they need to use their limited PTO before it expires, so taking vacations doesn’t feel weird. On unlimited, it can be heard to gauge what is acceptable and people err on the side of not using it as much. Studies found people take PTO less when it’s unlimited compared to limited You also don’t get paid out PTO when you leave, so you’re missing out on ~1 months salary

likefunny

As an HR consultant, this is absolutely a cost cutting measure. It reduces the cost associated with a termination, which is already quite expensive when factoring in lost productivity of new hire, training time, recruiting costs, severance payments, etc. The other benefit is an employee's mindset shifts from I MUST take my PTO before it expires, to I CAN take PTO. This results in employees taking less PTO and ultimately creating more revenue for the company.

likesmarthelpful
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So you don’t get paid out PTO when you leave....unlimited pto is a bad thing

likefunnysmart

A1 you should take a vacation

likesmart

We don’t want this

likefunnyupliftinghelpfulsmart

Unlimited PTO = Biggest scam ever

likesmart

Biggest scam ever only after....bottled water that sells for $10 at airports

like

Unlimited PTO is a terrible thing. In a way I'd say we have unlimited PTO already because I don't remember the last time I used all 20-25 days we get annually.

likeupliftingsmart

Think 20-25 days is standard at Big 4

Joke’s on you, EY.

likefunnysmart

Jokes on is at KPMG as we follow suit. And you know we will!

like

Unlimited PTO means no PTO. If you quit now, you won’t be able to cash out the PTOs you have accrued.

likesmart

KPMG changed the PTO policy this year. I’ll keep our limited PTO and two week shut downs per year.

likesmart

C2 - correct that’s what I meant by mandatory PTO.

Why do people treat vacation as a termination benefit? PTO is not a deferred comp plan. Manage your work and take the time off to recharge during the year, even while working from home.

likefunny

There is a reason that defined PTO is carried as a liability on the books. It is because it *is* part of formal compensation, so the company must carry enough liability to cover that compensation. Ergo, with the liability gone, so is a portion of compensation. "Undefined PTO" is exactly what P1 says, PTO becomes less well defined and there is an air of flexibility about it that causes people to have less respect for that time off. Especially if, like me, you tend to take more staycations.

like

Trust me they’ll tell you can take all you want but between hitting your utilization targets, getting your work done, and getting approval you’ll take just as much PTO as you always did. But when you leave the firm the firm has to pay you zero dollars because you have no PTO accrued

likesmart

Exactly, saying « go ahead, it’s unlimited » but then to keep measuring almost every decision with an eye on metrics like chargeability, utilization etc, they’re setting up clear incentives for the workaholic wlb

likesmart

So EY screwed people over. Unlimited PTO is a scam, they don't owe a pto payout when you move. Only a matter of time D does it now

like

Unlimited PTO is only good for employers, never good for employees

like

No! It's a trap!

like

Is EY paying you out of your accrued PTO? If not, they just took money away from you

like

Yes they do. I got nice PTO $ plus sign on at kpmg. Those were the times...

So now EY doesnt have to pay for PTO if you leave and have unused PTO. They will also likely have to model a “suggested” PTO in your annual utilization metrics.

likesmart

Only hurts the employees. Studies show this model results in reduced usage and clears a large liability from the balance sheet. They wouldn’t be doing it otherwise!

likesmart

Not only is the payout gone, but studies seem to suggest an unlimited PTO model leads to employees taking fewer PTO days as well

like

I always laugh when I see people get excited about unlimited PTO...

likesmart

It sounds cooler to say « unlimited » rather than « PTO subject to workload, peer pressure and a case by case approval »

likesmart

Yeah I hope they don’t do that

like

To me it doesn’t seem like a fair system. What if one person has a supervisor that allows them to take PTO every Friday as long as their responsibilities are met and person that has a supervisor that is nickel and diming every request

like

Lol that’s cute D6...

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