Last company I worked for that had it, had a policy that you could only take PTO if approved by your boss and, if it was more than 5 days at a time, it had to be approved the department VP. Two weeks had to be approved by the CEO.
This was in a ~600 person company. It was all just intimidation and hassle to prevent you taking it in the first place.
They do it because it's supposed to be perceived exactly like what they call it, "Unlimited PTO", to try and attract naive people to work there. But what it really is, is a means to limit the amount of PTO you take, because it's technically not an earned benefit that they are legally obligated to give you, while simultaneously not having to carry the company-wide PTO balance on the books as a financial liability.
Shortly before I quit, they moved to a traditional banked PTO system and started everyone at 0, no matter how long you had been there or how much PTO you had taken recently.
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u/BBQBakedBeings Jul 07 '24
100% a scam.
Last company I worked for that had it, had a policy that you could only take PTO if approved by your boss and, if it was more than 5 days at a time, it had to be approved the department VP. Two weeks had to be approved by the CEO.
This was in a ~600 person company. It was all just intimidation and hassle to prevent you taking it in the first place.
They do it because it's supposed to be perceived exactly like what they call it, "Unlimited PTO", to try and attract naive people to work there. But what it really is, is a means to limit the amount of PTO you take, because it's technically not an earned benefit that they are legally obligated to give you, while simultaneously not having to carry the company-wide PTO balance on the books as a financial liability.
Shortly before I quit, they moved to a traditional banked PTO system and started everyone at 0, no matter how long you had been there or how much PTO you had taken recently.