Unlimited paid time off
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Anonymous
Pretty sure areas not following GAAP would have made the news.... And why is the vacation stupid? |
Anonymous
| Many states (including Virginia) do NOT require companies to pay out accrued leave when someone leaves the company. We have a company policy that if you leave, you don't get paid for your unused leave. So the unlimited leave approach isn't necessarily an accounting scam. Where it gets tricky is in situations like maternity leave. We don't pay maternity leave - people use their saved up PTO first. Not sure how that would work in a company where you can take unlimited paid leave. I guess all maternity leave would be paid? |
Anonymous
I work for a company with "unlimited" leave. Maternity leave is definitely not paid, LOL. We all wish. When someone goes on maternity leave, it is a totally different class. She (they don't offer paternity leave) will get a certain number of weeks paid at 100% depending on how long she's been at the company. I think it is 2 weeks if you're there between 1 - 4 years, 3 weeks for 5 - 9 years, 4 weeks for 10 - 15 years, 5 weeks for 15+ years or something similar to that. Then onto Short Term Disability. Maximum leave is 12 weeks as protected by FMLA, although I have known cases where highly-valued people worked out longer leaves with their direct manager (I have heard of up to 6 months - unpaid after STD runs out). I don't really know how they square that up with the "unlimited leave" thing, but I guess it's because a manager would never voluntarily approve 12 weeks of leave at one time, but they legally are required to allow it. Supposedly they're reworking their schedule to allow people to take PTO to make maternity leave paid (not actually extend it), but I haven't seen details on that and not sure how they would work it since PTO isn't tracked so even if they gave a guideline as the starting point, they wouldn't know how much had been used. |
Anonymous
Ok. Whatever you say. Because everything big companies do is always fully transparent 100% of the time. 
It's stupid because they never knew at any given time what their liability for owed vacation time was. If someone left they had to rely on honesty. Which kind of gets back to the GAAP thing, you know? |