Audio Conferences

  January 23, 2008 at 02:00PM ET

On any given day, nearly one in 10 employees is unexpectedly absent from work—costing employers hundreds of thousands of dollars a year, and creating a paper trail nightmare for HR.

And, while there's no way to completely eliminate unscheduled absenteeism, a recent Harris study confirmed what many HR professionals already know: that Paid Time-Off (PTO) banks are the most effective tool available to help control unplanned absenteeism.

According to a recent Harris survey, illness accounts for only 35% of unscheduled absences. The other 65%? Family Issues (21%), Personal Needs (18%), Entitlement Mentality (14%) and Stress (12%).

PTO Banks combine all time off—sick time, holidays, mental health days and vacation time—into a pool employees can use as they wish, when they wish.

Employers that have switched to PTO programs report easier administration, fewer last-minute no-shows, true cost savings, improved morale and greater ability to attract and engage talent—all while providing their employees more flexibility in taking time off.

To learn more, join IOMA for this comprehensive look at all the pros and cons of instituting a PTO program at your organization. In just 90 minutes, our expert panel will cover:

• The main differences between traditional time-off arrangements and PTO banks
• Case studies on implementing and communicating the benefits of a PTO bank
• How traditional sick days-off translate into bankable days (hint: not 1-for-1)
• Carryovers and cash-out options—especially in states that require payment on unused vacation and personal time at termination (such as California and Illinois)
• How short-term disability integrates with PTO Banks
• How to identify when an employee may be taking time off for a serious health condition that is covered under the Family and Medical Leave Act (FMLA
• What happens if an employee is out of time-off days and a hardship situation arises
• How PTO banks can aid in recruitment and retention by providing employees with the more flexible leave time programs they are demanding
• The most common myths associated with PTO banks and the realities behind their use

FEATURED FACULTY

Terry Garrison
Senior Consultant, Health and Productivity Practice
Watson Wyatt Worldwide

Terry is a health and productivity expert who provides a wide variety of strategic consulting services in all aspects of absence benefit design, statutory leave, workers compensation, employee productivity, and strategic planning with clients. She has extensive experience working with both employers and providers to design and implement absence management programs in the U.S.

Bob McKenzie
President, McKenzieHR
The Potential of People

Bob McKenzie, SPHR is President of McKenzieHR, and a human resources expert. His firm provides a wide range of human resources service for companies with 50 to 3,000 employees. Mr. McKenzie always recommends that his clients utilize a Paid Time Off program and has been responsible for the oversight of the implementation and administration of Paid Time Off programs for a large number of his client companies.