improve time off accruals with stratustime
DESCRIPTION
According to the Bureau of Labor Statistics, American employees are working 160 hours — or one full month — more each year than they were 30 years ago, and this additional job-related stress has contributed to absenteeism, lost productivity, and health issues that are costing businesses approximately $344 billion annually. Given this astounding news, it’s no surprise that US businesses are reforming their vacation and PTO policies to better support their employees, as happy, healthy employees lower turnover costs, affecting the bottom line. In this free webinar from nettime solutions, we’ll cover the best practices, methods and standards for time off accruals that are enhancing PTO policies nationwide, and show you how a customizable automated time and attendance platform like stratustime can provide workforce analytics and labor management solutions — all from your web-browser.TRANSCRIPT
Improve Time Off Accruals with stratustime
February 26, 2014
Webinar Presenters
Jennifer Spencer
Director of Marketing
Steven Garone
Technical Support
Representative
Webinar Overview
• Effect of Overworked Employees
• Traditional PTO vs PTO Banks
• Accrued PTO Liabilities
• Hourly vs. Fixed Time Accruals
• Managing Accruals in stratustime
• Q&A
Effect of Overworked
Employees
Nearly 50%
increase in
anxiety
disorders
117 million US citizens affected
Effect of Overworked
Employees
Effect of Overworked
Employees
$344
billion
annually
Popularity of PTO Banks
Quick Poll
What kind of PTO system does your
company use?
1. Bank Type PTO
2. Traditional PTO
3. Unlimited Time Off
4. Other/Not Sure
Bank-Type PTO vs. Traditional
PTO
Bank-Type
Traditional
Other System
Unlimited
PTO Bank Expectations
100% 98% 90% 74%
24% 11% 5%
Accrued PTO Liabilities
Accrued PTO Liabilities
500 employees @ $25 per hour
$112, 500 in paid out
PTO
Managing PTO Banks
Quick Poll
Which Methodology Does Your Company
Use?
• Hourly
• Fixed Time
• Not Sure
Hourly vs. Fixed Time Accruals
Accruals in stratustime
Different Plans, Different
Employees
Approval Workflow
Time Passed or Hours Worked
PTO Liability Assessment
Beginning or End of ANY Period
Pausing Accruals
Projecting Employee Hours
Customized Accruals
Balances and Anchors
Cancelling Requests
Accruals to Fit Your Company
Questions?
Improve Time Off Accruals with
stratustime
For more information,
call 800.561.6366 or
visit
nettimesolutions.com to
request a customized
demonstration of our
time & attendance
software.