Holiday Leave Vacation Policy example



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OFFICE OF THE Days 20.8 23.4 26.0 28.6 LEGISLATIVE FISCAL ANALYST SICK WHAT IS AND VACATION LEAVE VERSUS PAID TIME OFF P A I D T I M E O F F (PTO) Paid Time Off (PTO) is a single compensated absence pool that streamlines traditional annual and sick leave and allows employees to use all leave hours for either vacation or when they are sick.. current accrual) minus 70 (assumed PTO accrual) = 72 hours  Accrual difference in hours between PTO and sick leave: 104 minus 60 (assumed PTO accrual) = 44 hours  Average state worker hourly rate: 21.48 an hour  Number of state workers (benefited, core workforce): 16,555 We calculate the productivity savings of PTO as follows: PTO Accrual Difference Hourly Pay Rate Number of Employees Usage Rate In this case the productivity savings equals the sum of sick leave productivity savings and annual leave productivity savings, calculated as follows: Annual Leave Productivity Savings= 72 21.48 16,555 83.8 = 21,455,600 Sick Leave Productivity Savings= 44 21.48 16,555 58 = 9,074,900 or 21,455,600 + 9,074,900= 30,530,500 If state employees were to receive 130 hours of Paid Time Off instead of the current annual leave and sick leave accruals, the State could expect to realize approximately 30.5 million of additional productivity.

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