Colorado Springs, CO, February 07, 2019 – XTIVIA has adopted an innovative Honor-Based Paid Time Off (PTO) Policy as a high-impact strategy for attracting and retaining top talent, increasing job satisfaction, and empowering employees while reducing oversight expenses, financial liability for accrual payouts and scheduling conflicts. Additionally, the company’s core values include innovation, long-term relationships, and passion, which are supported by adopting this policy. A lack of work-life balance is reported to be a significant reason why employees leave jobs; yet a survey by HR association WorldatWork indicates fewer than 1% of companies adopt honor-based, or flexible, PTO policies. XTIVIA has elected to be in that 1% category.
The concept of honor-based PTO originated in Silicon Valley as a startup perk to attract talent. Surveys show that flexible PTO is the third most popular employee benefit, after health insurance and 401K plans, and is more desirable than vision / dental insurance and professional development.
“Our company is known for innovating technical solutions; we thought our benefits package should pace leading-edge innovation as well. Since we tend to attract high-performing ‘workaholics’ who love their work, our goal is to support them in sustained peak performance demonstrating our trust, mutual respect and commitment to their work-life balance,” says Dennis Robinson, CEO of XTIVIA.
Sometimes referenced as a “permissive time off policy” that supports a “Results-Only Work Environment,” an honor-based PTO policy requires a high degree of autonomy, manager maturity and documentation of a clearly written policy.
“We felt that our benefits package needed to reflect what our company stands for because our power is in our people. By putting our policies behind our values, XTIVIA continues to be an innovator that values our employees and their families,” stated Ori Ben Zvi, Chief Financial Officer of XTIVIA.
Within the flexibility afforded by this policy, XTIVIA will require employees to take at least 10 days off annually.