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Flex time and comp time are two different things in my work place. Comp time is a bank of hours I earn instead of getting payed overtime, and flex time is shifting hours around within a pay period but you still get your normal total number of hours within the pay period.My sisters employer is going to this as well. They had been not paying OT so by doing this they don't have to give them a raise or pay them OT but they get "Flex time" what I interpret as what used to be known as "Comp Time".
Do you work in a place that is responding to the new overtime law?
If you have everything up to date and you have no outstanding tasks, you're essentially irrelevant, no?
I'm just going to chime in to say that this makes me really glad to be self employed. Carry on.
At its core, it's supposed to be about trusting your employees. It's supposed to be a sign that the management of the company trusts everyone to act like adults. If you abuse it and take off every week without getting your work done, then you shouldn't be there. Again, this is theory.
Others have already identified the struggles with this...it comes down to getting that message to everyone in the company. So, if your boss understands it differently than the HR dept, then you could get hosed.
Virgin just issued a "no vacation policy" within the last month. What they screwed up is the letter from Richard Branson essentially said "this is so you can take off as much time as you need. As long as you are up to date on all your projects and you don't have any outstanding tasks, you can take time off." Who can really say that ever? If you have everything up to date and you have no outstanding tasks, you're essentially irrelevant, no?
Flex time and comp time are two different things in my work place. Comp time is a bank of hours I earn instead of getting payed overtime, and flex time is shifting hours around within a pay period but you still get your normal total number of hours within the pay period.
At its core, it's supposed to be about trusting your employees. It's supposed to be a sign that the management of the company trusts everyone to act like adults. If you abuse it and take off every week without getting your work done, then you shouldn't be there. Again, this is theory.
Others have already identified the struggles with this...it comes down to getting that message to everyone in the company. So, if your boss understands it differently than the HR dept, then you could get hosed.
Virgin just issued a "no vacation policy" within the last month. What they screwed up is the letter from Richard Branson essentially said "this is so you can take off as much time as you need. As long as you are up to date on all your projects and you don't have any outstanding tasks, you can take time off." Who can really say that ever? If you have everything up to date and you have no outstanding tasks, you're essentially irrelevant, no?
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Everyone in my area has over 10 years except me so they all would use 5 weeks a year of PTO. How are my co-workers going to feel if I take 9 weeks off next year (I wouldn't)? What about the guy in my area that has worked for the company for 25 years and is always involved in big projects. How is he going to feel if he feels like he can only take 2 weeks?
Who ever just has one project going on at a time? I always have multiple things going on. Not sure I'd ever have any time where all my tasks are completed. Definitely prefer PTO.I look at it more like this: I have project X to do. Project Y is on the horizon but isn't able to be started until next Wednesday. I finish project X today at noon. If I want, since I have my project completed and no outstanding task, I can take off at noon today and take off Monday and Tuesday. Not irrelevant, rewarding to people who get their stuff done.
I was talking to some people last night that are having to make this switch. It sounded like with FTO there was no longer a bank of time and you could just take time off whenever as long as your supervisor approved and your work was getting done. Seems kind of nice on the surface, but I think its probably just a way to cut an additional benefit from people. The company will see huge savings from people that have large banks of PTO cashed out when they leave employment.
PTO has been eliminated for folks who reach a certain level where I'm at.
They don't accrue PTO. If you need time off then you just take it. So the bank doesn't have that unpaid liability sitting on the books.
I tend to not take days off. It was nice getting a good check when I left my job. Looks like those days are ending