U.S. Healthcare Organizations Offer Valuable Time Off
With the holiday season in full swing, many employees are looking forward to spending quality time with their friends and family. Whether traveling or spending time at home, time off packages continue to be a valuable asset to U.S. employees. The 2009 Compensation Data Healthcare results found full-time employees with 0-4 years of service are typically given 21.5 paid time off days, while part-time have 14.8.
Over 75 percent of healthcare providers offer paid time off packages (PTO) to employees. PTO plans group all paid absences together, including vacation, sick and personal days. The 2009 Compensation Data Healthcare results found full-time employees with five to nine years of service earn 26 days. Comparatively, those with over 20 years of service have 31.5 days on average.
Compensation Data Healthcare also reported 96.2 percent of companies allow carryover of PTO days, and 80.3 percent place a limit on the number of days that can be carried over. The maximum number of days allowed for full-time employees is 38.7 days, compared to 33.7 for part-time.
Many healthcare organizations offer additional time off through extended illness banks. Extended illness banks allow individuals to donate a specified amount of time to a ‘bank’ annually. Employees can later withdraw time if they become seriously injured or ill and have used their available time off. The time off available varies by years of experience with a maximum annual accrual averaging 17.1 days for full-time employees and 14.8 for part-time. Some organizations, less than 20 percent, allow employees to use these days off for family sick leave.
About the Survey
Compensation Data 2009 Healthcare contains data on over 200 industry-specific job titles and more than 250 benchmark titles ranging from entry-level to top executives. Data is collected annually from employers across the country. The results provide a comprehensive summary of pay data, benefit information and pay practices with an effective date of January 1, 2009.
Compdata Surveys is the nation’s leading compensation and benefits survey data provider. Thousands of U.S. organizations provide data each year ensuring the reliability of our results. Compdata Surveys has been providing comprehensive data at affordable prices to organizations from coast to coast since 1988. For further information about the compensation and benefits surveys, contact Amy Kaminski at (800) 300-9570.