Paid Time Off Bank

[Guest bevans]

I am currently researching Paid Time Off Banks and would like to come up with a cost analysis that shows the difference between the current cost to my company when employees use vacation, sick and personal time versus what our costs would be under a Paid Time Off Bank.

Has anyone handled a similar project, and if so, what resources did you use and how did you proceed with the costs analysis. Did you calculate the greatest exposure under your existing policy (i.e., did you assume that all employees used all vacation, sick and personal and then total the costs) and then did you do a similar calculation for the total number of days alloted under the Paid Time Off Bank?