Co-Founders: Adam P. Gordon and Ulises I. Orozco
Fifty five percent of full-time employees in the US do not use all of their paid time off (PTO). As a result, there is more than $300B in payroll liability weighing down the balance sheets of US corporations. The cost of not taking time off is compounded by employee burnout, which negatively impacts job satisfaction, engagement, happiness, loyalty, and productivity.
Florida-based PTO Genius is on a mission to help companies and employees do more with their existing PTO benefits. Their proprietary software offers unique features that include financial wellness, access to emergency funds, and smart vacation planning, all powered by a company’s existing PTO policy.
PTO Genius’ financial wellness feature enables employees to make the best financial decision based on their priorities. Older employees can easily convert and self-direct accrued PTO into a retirement account, millennials thinking about starting a family can direct PTO dollars into a 529 college savings plan, and Gen Z employees can pay down their student loans, all through the PTO Genius web or mobile app. “Employees who are stressed about their financial condition are both less productive and in worse financial shape than other employees,” notes Adam P. Gordon, Co-Founder of PTO Genius. “To that end, PTO Genius helps employees keep financial stress at bay so the core emphasis can be focused on enhancing productivity at work.”
In the last 12 months, 60 percent of households suffered financial shock, and 41 percent of them do not have enough savings to cover a $2,000 emergency.
To address this concern, PTO Genius offers employees instant access to the cash value of the accrued time off to save them from financial shocks and difficulties and give them peace of mind at work.
Concurrently, PTO Genius emphasizes vacation planning to reduce the frustration caused due to excessive work. Through its vacation planning program, the company allows employees to plan vacations during non-disruptive or favorable times for their company and pay for those vacations with their accrued PTO, resulting in a more refreshed workforce.
By covering areas such as retirement, vacation planning and student loans, the company introduces KPIs and metrics which did not exist before. This valuable information helps the company enhance engagement, happiness and loyalty at work. Moreover, PTO Genius’ features help clients minimize carry-overs and last-minute leave requests.
On the implementation front, PTO Genius configures its solutions based on the client’s company culture, paid time off policy, and features that the clients want to make available for employees. The company’s easy-to-use solution can be seamlessly plugged into the client’s existing human resources information system or leave management system. If the client does not have one, they can simply use PTO Genius’ leave management feature.
At a time when the war for talent is at its peak, especially in industries such as technology, banking, and health care, PTO Genius offers the right solutions to drive employee engagement and talent retention. “Our solutions work equally well for those firms who strive to be the ‘best places to work’,” says Gordon.
PTO Genius maintains a client-centric product focus and an efficient feedback mechanism to stay connected to their requirements and user experience. Currently, the company is developing a mobile app that caters to employees on the go. It is also focused on enabling more ways for employees to utilize their PTO. Geographically, the company is looking forward to moving into Canada and other countries soon.