What is VTO (Voluntary Time Off)?
Voluntary Time Off (VTO) is a type of leave used by companies to balance their staffing requirements with frequently changing workloads. Due to issues such as overstaffing during scheduled work shifts, companies allow extra personnel to take unpaid time off to save costs, as overstaffing would lead to large costs that will be incurred by the company.
Voluntary time offs have to not only be beneficial to companies, but should also give employees the opportunity to take time off without repercussions. Voluntary the off of done right can give employees an opportunity for work-life integration while bringing down costs for he company.
VTO is granted by companies to their employees without pay.
What is a Voluntary Time Off policy?
The Voluntary time off is accessible to any employee with a full-time worker status. However, cases may arise where employees the voluntary time off or unpaid leave which could lower their hours below a threshold maintained for a full-time role.
In order to prevent such a circumstance form taking place, companies can set up Voluntary time-off policies that can facilitate the employees to keep a hold on their benefits and gain promotions even after applying for voluntary time off.
What are the drawbacks of Voluntary Time Off?
- The choice of taking a voluntary time off can leave employees feeling confused or conflicted on whether to apply for one or to continue regular work and earn money.
- Choosing between one of the other can lead to a negative impression of the company and employer among the personnel that money is more crucial to them than the efforts of the employees.
What is the difference between Paid Time Off and Voluntary Time Off?
Companies that value social responsibility provide paid time off for employees to participate in community service projects. VTO does not interfere with sick or vacation time; it is an additional benefit to your regular PTO.