Since the beginning, our mission has always been simple: to help employees exchange their unused PTO for other forms of financial rewards.
Over 765 million vacation days go unused in America each year, and we understand the challenges of leaving money employees earn on the table. As employees are facing financial hardships brought on by economic volatility and financial turnover, employers are looking for alternative ways to alleviate their employees’ financial stress.
That prompted us to build PTO Exchange, an easy-to-use convertible PTO platform that helps employees translate PTO into other things of value—retirement accounts, loan repayment programs, travel awards, charitable causes, and more.
We are pleased to announce that we’ve surpassed a tremendous milestone—1 million hours of PTO exchanged on our platform, equaling $54 million, with 60% of those transactions happening since the start of 2023.
“We are excited about reaching this milestone because it validates what we thought when we created the category – employees need and want flexibility in the way they can utilize their benefit dollars to support their transitions and moments in life,” says Rob Whalen, Co-founder and CEO of PTO Exchange.
“By listening to our customers and employees, we can continue to innovate and develop new solutions on our platform to support our customers’ diverse workforce population and their ever-changing needs.”
Our platform balances the benefits space's two demands happening right now: the employer’s budget and the demand for better employee benefits.
We’ve worked with over 100 customers in various industries (including Easterseals MORC, Makeready, and Griffin Capital), offering them a scalable solution that addresses the varied needs of multiple generations in the workplace.
Through the platform, employees have addressed ongoing inflation challenges and put more than $5 million of pre-tax contributions toward their retirement and health savings accounts.
“PTO Exchange gave us a vehicle that is flexible to meet individual needs and supports our employee’s financial well-being,” says Aimee Bosma, Director of Total Rewards at Dayton Children’s Hospital. “In the past several years, it has been difficult for employees to utilize all our generous PTO hours. PTO Exchange allows our employees to still benefit from their PTO hours in ways that are meaningful for them. Partnering with an innovative company like PTO Exchange allows us to provide yet another exceptional experience for Dayton Children’s employees.”
Our work matters to real people living and working in our communities nationwide. We want to help them achieve more of their dreams and facilitate giving and sharing.
Here’s to our next million hours!
Published on Feb 29, 2024 by Rob Whalen
