The Coronavirus outbreak in 2020 is on everyone’s mind. HR and senior leaders of companies large and small are striving to strike the right balance of caution. If there's a silver lining, this just may be the time to strengthen internal and external community for important stakeholders.
HR and senior leaders of companies large and small are striving to strike the right balance of caution and preventative measures for employee health along with the needs of the business and customers. After all, businesses exist to serve customers – such as hospitals, health facilities, food stores, and other necessities that can’t be put on hold. Workers throughout the economy continue to show up everyday to serve others.
As HR and senior leaders continue to review their plans during this time of uncertainty, it is paramount that the employees that serve customers be supported to the greatest extent possible. Some may need additional time off to care for family. Some may be furloughed involuntarily due to slower demand and run out of sick days and paid time off (PTO). This ultimately can lead to missed paychecks, cash crunch, and some financial hardship.
At PTO Exchange, we’ve helped companies through times of need similar to today’s Coronavirus scare. We have a technology platform that allows and facilitates giving and sharing PTO amongst employees who need it.
An Opportunity to Strengthen Community
One of our customers experienced a similar situation during Hurricane Irma in 2017. As you may recall, Hurricane Irma was a Cat 5 Hurricane that impacted Puerto Rico and the Gulf Coast of Florida especially hard. At the time, it was considered the most powerful hurricane on record in the open Atlantic region outside of the Caribbean and Gulf of Mexico. Ultimately, more than 7.7 million homes in Florida were left without electricity - approximately 73% of the homes in the entire state.
This particular customer is headquartered in St. Petersburg, FL and the vast majority of employees were impacted by the storm. Many were running out of vacation and sick leave. The employees that were hardest hit were the rank and file front line to their business. The CEO used our platform to give three weeks of his unused PTO to support his employees. His contribution - three weeks of PTO at his pay rate - was able to support a large portion of those employees that did not have the savings or time to weather the immediate challenges thrust upon them.
After the storm, word got out into the employee community that it was the CEO that gave his time to those in need.
Needless to say, the employees were astounded.
The CEO later told me that our sharing platform helped define and strengthen the company’s culture and loyalty, and created the ability for everyone to support one another.
Especially during times of crisis, it’s important that companies become caring communities and every employee becomes family. Allowing employees to share their PTO internally and externally is one additional way to reinforce and strengthen community. Our sharing platform makes it possible to share with others inside the company who need it or to donate the monetary value of PTO to over 1 million national and local non-profit organizations, which often serve as the support backbone during these challenging times. The PTO Exchange platform enables everyone in your company to support one another.
Take good care,
CEO, PTO Exchange
Published on Mar 12, 2020 by Rob Whalen