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Unlimited sounds great in theory, but I remember reading that most employees with this benefit end up taking less PTO than those with conventional policies. I'd rather have the clarity that comes with a set number of days, like I have currently. Buyback would be a great plus, our PTO doesn't roll and there's no buyback, so I have to use it or lose it each year.
I don't trust "unlimited" PTO. I think it's a trick. It sounds like you can just call in and say you're not coming in anytime you want to -- in effect, get paid for staying home. If you take advantage of this open-ended benefit, look for the administration to find a reason to fire you. There's no such thing as a free ride. Our company only buys back unused PTO hours if you leave the company before using them. We cannot accumulate them from year to year. The purpose of time-off is to relax and recharge your batteries. You can't do that if you hoard your vacation days in hopes of a big payday when you leave or retire. The purpose of your job is to perform functions necessary for the success of the company and the customers it serves. You can't do that if you aren't at work.
Obviously it's not possible in every industry or for every company, but I’m all for self-managed or unlimited PTO! It gives employees a much better WLB and helps everyone avoid burnout. But a set number of days with buyback options could be nice for those who don’t need as much time off. What do you think works best?
I would never want to be at a company where it is unlimited because I feel like that further puts your manager above you in direct control of the time you have outside of work and if there’s a bad relationship there it can go south real fast.
I really like the buy-back option. I use it a lot at my current job.
Pro
I would love a buy-back program. While I try to spread out my PTO throughout the year, sometimes projects and responsibilities pop up that require me to be onsite. If I could cash in those days at the end of the year, I wouldn't mind. Instead, I end up taking 2-3 weeks off at the end of December.