WHAT IS PAID TIME OFF? AND WHY YOU SHOULD USE IT BEFORE YOU LOSE IT

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Paid time off is a policy in some employee handbooks that provides a bank of hours in which the employer pools sick days, vacation days, and personal days that allows employees to use as the need or desire arises. Upon employment, the employer determines how many paid time off hours will be allotted per year.

Paid time off may have another effect, though. If your sick days, personal days, and vacation days all draw down your bank of free time, you may be less likely to take a day off when you are a little under the weather.

Saving paid time off can work well for you if your employer lets you hold on to all your unused days. But a new survey found that companies are less and less inclined to let you do that. Just 9 percent of employers allow employees to cash out unused vacation time when they leave their jobs.

But with fewer employers allowing carry-overs of unused time, you have less and less reason to save it. After all, if you can’t use the time later, why wait?

Read More: http://goo.gl/9N5bJG

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