Time to rethink PTO? How to convert employee hours into other benefits

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HR teams are trying to navigate one of the most difficult economic environments they’ve ever faced. Surging inflation, snarled supply chains, and an extremely competitive labor market are all forcing companies to reassess how they do business, and the HR department has a vital role to play in this process. One of the most effective ways to increase productivity and avoid disruption is to focus on the development and maintenance of a healthy workforce.

Now is the time for HR teams to reaffirm their commitment to their entire workforce. This commitment means supporting employees at every level of the company with compensation and benefits packages that meet their unique needs, financial assistance to help them get through this period of inflation and looming recession, and flexible work arrangements. After two years of working remotely, employees are demanding greater flexibility than ever before; they want to be treated as individuals with their own priorities and concerns. Companies that recognize this fact will have a decisive advantage over their competitors.