One of the recent trends popping up within corporations is the introduction of student debt relief programs—a straight-forward program with lots of benefits for millennials.
Ask any millennial, and an overwhelming majority will be signing up.
This benefit is great, but it is only a benefit for one generation in your employee community, not the broader employee base.
What about the baby boomers that have debt or need to put more away for retirement? Equality in your workforce is critical to creating an unbiased culture.
PTO Exchange launched a patented benefits platform that converts unused paid vacation time into tangible goods and services that matter most to them—a benefit for both millennials as well as the baby boomers!
Last year, PTO Exchange changed the standard by adding student loan merchants to its platform to allow for employees to utilize accrued PTO (paid time off) to pay down their student loans. The employer can even match that value to pay down the student loan or match those funds into the employees’ 401(k) plans.
PTO Exchange has developed a patented platform that allows employees to:
- Pay off student loans or tuition expenses
- Contribute additional funds to your 401(k) or retirement savings
- Fund your healthcare saving account or medical expenses
- Add to your vacation fund
- Give to nonprofits
- Transfer unused hours to a colleague in need
Addressing Multiple Generations
Corporations shouldn’t be offering programs that segment their employees based on age, gender, or position. No two people are the same and no two people have the same needs or are going through the same phases of life.
By offering flexible, self-directable benefits to the entire employee community, employee morale, feeling of equality, and well-being will increase throughout your organization.
It’s time for your “benefits” to have the flexibility that truly benefits all.
Learn more about flexible PTO benefits and how it can help your organization today.