When employers think about how to handle their employees’ earned, unused paid time off some traditional options come to mind. They include forfeiture (i.e., use it or lose it), carryover (i.e., roll it into the next year), cash out, or some combination thereof. As employers continue to adjust to new workplace realities created by COVID-19, greater attention is being placed on employers’ paid time off setups and how they can be used to attract and retain talent, stand out among competitors, and generally reflect company culture.

During this episode of “Take It or Leave It,” Rob Whalen, co-founder and CEO of Seattle, WA-based PTO Exchange, joins co-hosts, Josh Seidman and Meg Toth, to discuss how his company’s software affords employers an alternative approach for handling earned, unused paid time off. Through PTO Exchange’s software, employees can convert the value of their unused paid time off hours into other tangible priorities, such as life planning (retirement funds), education (student loans), philanthropy (offering days to a co-worker or charitable causes), and more. Join us to learn more about PTO Exchange, including different plans available to employers, how its software operates, the impact of state and local paid leave mandates on the software, integration with payroll and timekeeping programs, and international employment law considerations.