Are you mixing floating leaves with PTO and offering your employees a long list of paid holidays? PTO or paid time off are such leaves that do not involve any loss of pay for the employees. It includes sick, marriage, casual, and other leaves a company offers employees throughout the year. 

However, floating holidays may differ from one company to the other. At some organizations, employees can choose from the list of government, religious and cultural holidays; at others, these are optional holidays. Read further to know more about determining PTO for your company policy.

6 Factors that Determine PTO Policy for Your Company

Here are some of the factors that help determine the PTO of your organization:

Cultural and Religious Observances

The cultural and religious diversity of your organization needs special consideration while determining PTO holidays. You need to respect and recognize the religious observances of various employees to foster and accommodate an inclusive work environment. So, before deciding on PTO, research the major religious festivals that your employees celebrate and ensure providing them with the opportunity to celebrate them seamlessly.

Employee Feedback and Surveys

You can gather feedback and run surveys to seek input from employees before deciding on the PTOs. Involving your employees in this decision-making process provides you with better insights into the significance of the holidays for them. Moreover, your employees feel heard and valued when you include and engage them in deciding the PTO. 

Business Considerations

Besides personal and cultural considerations, you should also balance the holidays as per your business’ operational needs. While allocating PTO, you should evaluate its impact on work schedules, customer service, deadlines, etc. So, you should plan to ensure adequate staff are working to meet your business requirements and maintain productivity during holidays. To manage the PTO effectively, you need to create the perfect balance between business goals and employee needs.

National and Public Holidays

Governments and institutions frequently recognize public holidays as important days for the entire population. Most citizens celebrate these holidays, and employees get opportunities to relax. Christmas, New Year’s Day, Independence Day, etc., are among some of them. So, you can include these public holidays in PTO so employees can participate in national celebrations and traditions. 

Current Events

You don’t have to follow a rigid PTO policy over the holidays. It can be adaptable and dynamic to consider the present social environment. For instance, in response to the Black Lives Matter campaign, Zenefits declared Juneteenth a permanent PTO starting in 2020. The number of companies including this day in their PTO holiday list has increased by 11% in 2022 from the first year (2021).

Local and Regional Observances

In addition to national holidays, it is essential to acknowledge local or regional observances that might be significant to your employees. These can include regional festivals, historical commemorations, or specific cultural celebrations. Being aware of and granting PTO for such occasions demonstrates your commitment to recognizing the diverse backgrounds and traditions of your workforce.

Final Word

So now you know how to determine which holidays should be included in your company’s PTO policy. PTO allocations should be guided by inclusivity, fairness, and the well-being of your employees, ultimately contributing to their satisfaction and productivity. However, you can contact us if you need further assistance in this regard. You can also go through our blog section to clearly understand PTO and related concerns.

Reference Links:

https://www.businessnewsdaily.com/15834-which-holidays-deserve-paid-time-off.html

https://www.hrresolutions.com/blog/holidays-pto-an-employers-guide/

https://www.freshworks.com/hrms/floating-holiday-vs-pto-heres-everything-you-need-to-know-blog/