Tag Archives: motivating employees

Time is money

For Employers, Time Is The New Currency

With all the cost cutting employers have had to do during the recent recession to stay afloat, it’s comforting to know that a key employee benefit near and dear to everyone’s heart has survived — paid vacations. According to a WorldatWork research report, Paid Time Off Programs and Practices*, a majority of U.S. employers still offer paid time off. In fact, three out of four survey respondents say it’s necessary to offer paid time off programs and do so in traditional and non-traditional ways.

Three types of paid-time-off programs:

Traditional system — Gives employees separate allotments for vacation, personal and sick days.

PTO banks — Workers receive a pooled number of days off that can be used as needed (generally excluding fixed holidays, jury duty and bereavement).

Unlimited leave – Employees can take as many days off as needed.

The United States is among the minority of countries in the United Nations with no guarantee of paid leave for workers. The WorldatWork study found that a majority of U.S. employers offer it as a key employee benefit even if they are not mandated to do so. With the focus of the Obama Administration and Congress on expanding access to paid leave programs, the research shows that employers recognize the competitive advantage of offering paid time off and believe in continuing these programs, in good times and in bad.

Other key findings:

A vast majority of employers provide paid sick leave.

The average number of paid sick days in a traditional system is nine.

PTO bank systems do not distinguish between vacation and sick time.

Employers offer an average of nine paid holidays each year.

Amidst pay cuts and wage freezes, time is emerging as the new currency, and it’s nice to know employers remain committed to rewarding and motivating employees with paid time off.

*Published in May 2010, data for the WorldatWork Paid Time Off Programs and Practices survey was gathered from Feb. 17-March 5, 2010. Of the 1,036 responses, 37 percent came from companies with 5,000 or more employees.

Avnet's Roy Vallee On Leadership

Avnet’s Roy Vallee On Leadership

Thirty-seven years ago Roy Vallee was stocking shelves at a small electronics distribution company in Los Angeles. That small firm has grown up to become Avnet, Inc., a Fortune 500 firm located in Phoenix, Arizona. Avnet is one of the largest distributors of electronic parts, enterprise computing and storage products, and embedded subsystems in the world. And Roy Vallee is the CEO and chairman of the board. One morning recently, marketing professor  Antony Peloso sat down with Mr. Vallee to talk about Avnet, his leadership style, and how to motivate employees — even in a far-flung global operation. Professor Peloso leads the Marketing Professional Sales and Relationship Management Initiative, which fosters strong relationships between students who are headed for careers in sales, marketing faculty members and corporate partners. The goal is to build professional sales capabilities and advance the profile and status of the sales function. And now let’s hear what Mr. Vallee has to say about one the toughest jobs of leadership: motivating employees. (26:42)

The podcast no longer works, please check the wpcarey website for the transcript.