article thumbnail

10 Unique Extrinsic Rewards That Your Employees Will Love In 2023

Vantage Circle

Paid Time Off (PTO). Offering paid time off— or PTO— can be a great extrinsic reward for those companies. PTO is any time off that is compensated by an employer. This means PTO is every vacation time, sick days, bereavement, and jury duty are all PTO. Timely And Frequent Bonuses.

PTO 105
article thumbnail

What is Volunteer Time Off (VTO) and How to Use it?

HR Lineup

However, most organizations apply paid time off and ignore volunteer time off. VTO vs PTO. Paid time off (PTO) is a paid leave where the employee’s activity is not restricted. Therefore, you should formalize the time tracking process just like in PTO. Keep reading to understand the difference.

PTO 78
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How to evaluate the compensation plan?

HR Digest

Paid leave – holiday, vacation, PTO, sick, personal, bereavement, military pay, jury duty, etc. One that offers perks such as gym memberships and bonuses can help you upgrade to or maintain a healthy lifestyle. Employee assistance program. Retirement benefits – include 401(k)/403(b), pension plans, etc.

401(k) 82
article thumbnail

Regular rate calculation gets a makeover

Business Management Daily

Cash payments for unused paid leave, including paid sick leave. Discretionary bonuses. New examples of discretionary bonuses include: Bonuses to reward employees for coping with challenging or stressful situations (e.g., spot bonuses). spot bonuses). Bonuses for employee-of-the-month.

article thumbnail

10 Employee Incentive Programs to Engage Your Team

Achievers

Bonuses and raises. Rewarding employees with bonuses and raises can be incredibly powerful. employees prefer bonuses based on personal performance. Encourage them to take the paid leave they have ? only 35 percent of employees actually use all the PTO they earn ? Strike a balance with your policies ?

article thumbnail

7 secrets to managing Gen Z in a remote workplace

Insperity

Increase paid time off (PTO). Offer other, less common types of paid leave (for example, to support their volunteerism and continuing education). Offer other, less common types of paid leave (for example, to support their volunteerism and continuing education). Bonus tip: Be flexible. Summing it all up.