Partner of the Week: PTO Exchange
PTO Exchange helps increase employee engagement and retention, builds loyalty and allows companies to stand out in a competitive job market all while reducing balance sheet liabilities and strengthening culture and community. The PTO Exchange platform caters to employees’ individualized needs and different transitions in life (retirement accounts, student loan repayments, charitable donations and more) – offering choice and flexibility to control the value of their PTO based on their own priorities.
We are excited to announce PTO Exchange as our Partner of the Week, where we highlight one of our unique PlanSource Marketplace Partners and the value they bring to the benefits industry. We recently sat down to discuss their unique employee benefits and how they support financial wellness accessibility within the benefits industry.
What makes your company unique in the benefits space – what key benefits do you provide to employees?
PTO Exchange is a cloud-based platform that helps employees unlock the full value of their paid time off all while providing a flexible tool for HR and Finance. Each employee can gain access to an up-to-the-minute view of their entire PTO balance and can swap accrued PTO amounts for benefits that fit their lifestyle. Whether it’s adding funds to retirement savings, vacations, student loans or charitable giving, PTO Exchange allows employees to reclaim the true value of their earned time off.
What industry problems are we solving with our partnership for HR teams and/or their employees?
Over 1 trillion dollars of unused PTO is wasted each year in the United States due to outdated benefits policies that don’t fit the evolving needs of employees. As employee retention and talent acquisition become increasingly competitive, our platform allows employees to access a traditionally under-utilized benefit, all while helping employers stand out and reduce balance sheet liabilities.
What is one thing your company is doing to innovate your product/offering to change the industry?
Since our inception, PTO Exchange has put an emphasis on the multigenerational workforce. We know it’s hard to install benefit programs that are meaningful for everyone. Our solution is simply re-imagining the ways that PTO (a benefit that nearly every employer already offers) can be used so that employees can elect options that matter to them based on their particular circumstances. Choosing between different benefit programs is hard enough as it is. PTO Exchange is an innovative platform that puts the decision back in the hands of the employee.
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