Does anyone have this at their work place? Yesterday we were informed we were going from PTO to FTO. Thoughts?
"Flexible time off"
- Thread starter pfgemployee
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That probably means different things to different organizations. Where I work that means you are working more hours today so you can leave early tomorrow. If that's what that means for you than that really sucks. Note that I get sick time and vacation in addition to the ability to flex time off.
- Mar 27, 2006
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Do you work in a place that is responding to the new overtime law?
https://www.fastcompany.com/3060032/heres-how-the-new-overtime-law-will-affect-you
By offering FTO, it could be that they are making sure employees aren't working more than 40 hours so as not to draw overtime.
Are they tracking the time? Do you have an FTO "bank" that is tracked and you can draw from?
As others have said, it really depends on the context. Some companies are trying to follow what Netflix did and get rid of their vacation policy all together. They basically say "take as much time off as you need provided you are getting your work done." It's essentially an honors system. A few companies have had great success with it, while others have had a colossal failure and had to go back to the regular, tracked vacation system.
Our office has PTO, but it's basically a flexible environment. You can get your 40 in however you want, but if you're not going to work 40 hours, then you make up the difference with PTO.
As others have said, it really depends on the context. Some companies are trying to follow what Netflix did and get rid of their vacation policy all together. They basically say "take as much time off as you need provided you are getting your work done." It's essentially an honors system. A few companies have had great success with it, while others have had a colossal failure and had to go back to the regular, tracked vacation system.
Our office has PTO, but it's basically a flexible environment. You can get your 40 in however you want, but if you're not going to work 40 hours, then you make up the difference with PTO.
I'll chime in here a little bit since I assume you also work at PFG.
The new FTO plan only covers exempt employees. Hourly employees still get PTO.
My personal opinion on it is that it will vary widely from department to department and pretty much ***** on people that have a lot of years with the company. On the other hand I understand why they didn't want employees banking 300+ hours of PTO.
The new FTO plan only covers exempt employees. Hourly employees still get PTO.
My personal opinion on it is that it will vary widely from department to department and pretty much ***** on people that have a lot of years with the company. On the other hand I understand why they didn't want employees banking 300+ hours of PTO.
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".
So why not just limit your roll over like every other company?
We were told that we had to work with our leader in advance to take time off. No bucket of time and no tracking.
That's what I had hoped they would do but they didn't.
That's what I had hoped they would do but they didn't.
PTO is vacation time that you get basically just for being there.
FTO how PFG is treating it is basically the same but it sounds like you have to put in the time (probably OT) in order to get that same time off.
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.
That's not correct. It has nothing to do with overtime or putting in time. In summary, if your work doesn't suffer and we have coverage, take time off.
So it's basically dependent on how agreeable your supervisor is?
My company has vacation time and flex time. Flex is used for time off requests from 24 hours to 2 weeks. If you have worked overtime that week and have to use flex, you don't get the OT rate on any hours you used flex on. Vacation time is for advanced planning and you get OT rates for extra hours worked even if you have vacation scheduled that week.
What if my workrate is already so poor that it can't possibly get worse? Loophole!
