Converting to a PTO bank

[Guest lmrice]

My co. wants to implement a PTO bank. I'm aware that most companies decrease the total number of days the employee receives annually (sick, vac, holiday) when going over to a PTO. Is there an "industry standard" formula used for this? We currently provide 13 sick, 10 vacation, and 11 holiday - totaling 34 days. For example, would we provide 28 days vs. 34? We want to be fair, but also minimize our liability.

Thanks in advance for any help you can provide.

[Guest Lisa Nieman]

Our company utilizes a PTO system but it is based on hours worked. Hours worked per pay period are multiplied by a rate calculated for years of service. The maximum number of hours an employee can amass is 200. At that point, they start losing hours unless they use it. All holidays, personal days, vacation, etc. are taken out of PTO. They are required to take 8 hours if they miss an entire day that they would normally be scheduled to work. However, if they work part of a day and need to leave (even after 20 minutes), it's up to them if they want to use PTO to up their time to 8 hours (or up to 80). This system is a nightmare to administer because our time system does not calculate PTO this way so we have to resort to several procedures to get the correct totals to print from Access. Furthermore, because of this process, we are unable to print this total on paystubs. Every other week we include a spreadsheet with employee paychecks to let them know where they are at. Hope this gives you yet another look at what's being done.