Feb 28, 2023
Paid time off (PTO) is a common benefit that employers provide for employees, allowing team members to accrue PTO each pay period and use it for sick time, vacation, appointments, and more.
While some companies allow employees to roll over accrued PTO, many others require employees to use the PTO they have accrued within a certain timeframe – if not, any unused PTO hours are then forfeited. In fact, over $65 billion in unused PTO is forfeited each year - an astounding amount.
Fortunately, there’s a solution that can help team members ensure their unused PTO isn’t wasted, and instead goes towards a good cause: helping fellow employees in need. Let’s look at how donating unused PTO to disaster and hardship relief funds works and why it’s so beneficial to team members within your organization.
Establishing a disaster and hardship relief fund for your employees has never been more important due to the many unforeseen financial struggles that people face in the world today. In the aftermath of a natural disaster or personal hardship, your organization needs to be able to help impacted team members rebuild and recover from the potentially devastating impact. A relief fund can boost morale and allow for your employees to donate and contribute directly to the support of fellow team members.
One of the main advantages of launching a relief fund with Emergency Assistance Foundation (EAF) is the flexibility team members have when it comes to donating. With our relief funds, team members have a variety of ways they can contribute to the fund, including donating their unused PTO.
This is made possible through our partnership with PTO Exchange—a benefits platform that allows employees and team members to self-direct the value of their unused PTO for other needs and causes, like relief funds. Through this platform, individuals can contribute their unused PTO to disaster and hardship relief funds, greatly expanding the donor pool and the sustainability of the funds. In times of need, providing more options for giving helps amplify existing relief funds and support fundraising efforts.
This flexibility allows team members to help their peers even if it is difficult to donate money due to budget constraints or other financial obligations - instead, they may have unused vacation days, sick time, or other PTO that they can donate. This not only helps team members in need, but can also create a sense of community and foster a spirit of giving.
By establishing a fund with us today, your organization can assist members of your team affected by natural disasters and other hardships. Relief fund grants can help impacted individuals pull through difficult times and start on the path toward recovery. If you’d like to learn more about how your organization can help your team during difficult times, you can review additional information about how a fund works or contact us today. We look forward to helping you make a difference for those who need it most!