Mission to Grow: A Small Business Guide to Cash, Compliance, and the War for Talent
Asure
133 episodes
3 months ago
Welcome to Mission to Grow, the podcast tailored for small business owners seeking practical insights, compliance-oriented content, and expert advice to navigate the complexities of HR and beyond. Hosted by Mike Vannoy, a seasoned business professional with a vision for rebranding and leveling up. Join us every Thursday as we delve into the world of compliance, productivity, and management strategies to empower owners and managers of midsize companies.
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Welcome to Mission to Grow, the podcast tailored for small business owners seeking practical insights, compliance-oriented content, and expert advice to navigate the complexities of HR and beyond. Hosted by Mike Vannoy, a seasoned business professional with a vision for rebranding and leveling up. Join us every Thursday as we delve into the world of compliance, productivity, and management strategies to empower owners and managers of midsize companies.
Unlimited PTO: The Positives and Negatives of Unlimited Paid Time Off - Mission to Grow: A Small Business Guide to Cash, Compliance, and the War for Talent - Episode #119
Mission to Grow: A Small Business Guide to Cash, Compliance, and the War for Talent
1 hour 2 minutes
1 year ago
Unlimited PTO: The Positives and Negatives of Unlimited Paid Time Off - Mission to Grow: A Small Business Guide to Cash, Compliance, and the War for Talent - Episode #119
How can implementing an unlimited PTO policy empower employees and foster autonomy, while ensuring managers maintain productivity and set clear expectations for team success? In this episode, we dive into the evolving concept of unlimited PTO and its implications for both employees and employers. Our guest explores how this policy can empower employees, foster autonomy, and enhance work-life balance. At the same time, we address the challenges managers face in implementing and managing this policy, such as setting clear expectations and maintaining team productivity. The discussion touches on the social contract between employer and employee, the importance of clear communication, and the critical role of HR policies in ensuring smooth execution.
Takeaways:
Social Contract in Employment: The foundation of an unlimited PTO policy is built on trust and transparency between the employer and employee, aiming to create a mutually beneficial relationship.
Empowerment through Flexibility: Unlimited PTO can level the power dynamic, giving employees autonomy over their time, which in turn fosters a sense of importance and engagement in the workplace.
Challenges for Managers: Without the structure of traditional time-off policies, managers must clearly communicate expectations and manage workloads to ensure team productivity doesn’t suffer.
Policy Implementation is Key: Unlimited PTO policies require a well-thought-out framework, including blackout periods during peak business times and clear approval processes.
Training for Success: Managers must be trained to handle unlimited PTO, understanding how to manage workloads, maintain team morale, and avoid favoritism.
Non-Exempt vs. Exempt Employees: The implementation of unlimited PTO varies between exempt and nonexempt employees, with special considerations for overtime and job-specific tasks.
HR’s Critical Role: A successful unlimited PTO policy hinges on having strong HR foundations in place—such as detailed employee handbooks, accurate job descriptions, and formal performance management processes.
Quote of the Show:
“If you're managing your time and saying to yourself, if I get X, Y, and Z projects done, I feel like I can take a week's vacation next month…. I think that empowers your employees.” - Mary Simmons
Mission to Grow: A Small Business Guide to Cash, Compliance, and the War for Talent
Welcome to Mission to Grow, the podcast tailored for small business owners seeking practical insights, compliance-oriented content, and expert advice to navigate the complexities of HR and beyond. Hosted by Mike Vannoy, a seasoned business professional with a vision for rebranding and leveling up. Join us every Thursday as we delve into the world of compliance, productivity, and management strategies to empower owners and managers of midsize companies.