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PTO
PTO is a benefit that allows employees to take time away from work while still receiving their regular pay.
PTO stands for ‘Paid Time Off’ and references paid time that an employer is required to provide to employees. Each country has different paid time off minimums, and companies are required to comply. Employers may opt to provide the minimum requirement as per local law, or they may offer above what is required. Companies will have a PTO policy that outlines how PTO is administered: how it’s accumulated, how it is to be used, and how it is applied for and approved.
Related Glossaries
Per diem
Per diem is a Latin word that means by (per) the day (diem).
Relocation
Relocation refers to the process of moving an employee from one geographical location to another, typically to support business needs.
Remote-first organization
A remote-first organization is a company that prioritizes remote work as the default work model.
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