CloudTalk, a Slovak start-up, has introduced unlimited paid time-off: employees deserve our trust
BRATISLAVA, SLOVAKIA, February 18, 2022 /EINPresswire.com/ -- Today, more than ever, employees favour flexibility. An unlimited paid time-off is a benefit that offers just that. Many employers are already introducing it. Slovak start-up CloudTalk is one of them.
The trend of unlimited paid time-off (PTO) originates in the U.S. and is slowly spreading to other regions. In MetLife's Employee Benefits Trends study, it ranks as the top emerging work benefit. Among 2,600 employees, as much as 72% voted for the PTO.
Further, around 63% of people would turn down a job offer if it didn't include unlimited paid time-off. A labour market surely reflects this rising popularity, since Jobs board Reed reported a 20% hike in the number of new offers advertising PTO as a part of a benefit package.
Progress requires bold decisions
With the unlimited paid time-off there is no set limit on how many days of leave employees can take. Instead, they may use as many holidays as they need.
At CloudTalk, a telephony software solution provider, PTO was only introduced recently. "We have been discussing this for some time, because our employees often asked whether we would consider this modern trend", says Klaudia Nemčická, Head of the People Department at CloudTalk.
Since PTO is still a relatively new concept in Slovakia, it wasn't easy to decide on its introduction. Yet, the CloudTalk management believes that progressive companies need to take bold decisions. "We have been analysing in detail what results the unlimited paid time-off yielded at international companies, such as Netflix, GitHub or LinkedIn. We have noticed that the productivity and overall satisfaction of their employees increased significantly", comments Klaudia.
"That is why we have started 2022 having faith that this courageous change will be successful", adds Klaudia.
The unlimited PTO is not suitable for all companies
While many businesses seem to profit from introducing the unlimited paid time-off, for others this model did not pan out. In most cases where it failed, the problem was the strategy used and trust issues. One of the reasons may be that people start using the unlimited paid time-off for no reason or too often. The managers then have to deal with absences, often during the busiest months.
On the opposite side of the spectrum, there are people who don't use any extra paid time-off. They don't know how much they can afford to take. They don't want to lose their position or good reputation.
These failures are mainly caused by lack of instructions and guidance.
Freedom has to be built on rules
In order for it to work, PTO requires mutual respect between employers and the employees. It, therefore, needs an efficient implementation.
"This being unlimited paid time-off does not mean the concept has no rules. Rules, namely, don't always equal limitations. To make PTO work for us, CloudTalk has a detailed internal regulation on how our unlimited paid time-off model works. For example, it specifies exact rules on when and from whom time-off has to be requested", explains Martin Malych, one of the founders of CloudTalk.
Trust is the foundation
At CloudTalk we have considered all drawbacks of PTO and it could impact the company. "Naturally, we are aware that we are taking a big risk by introducing unlimited paid time-off. However, unless it negatively impacts the company results, we believe that employees deserve our trust", adds Martin.
It is CloudTalk's culture built upon a fair approach what constantly attracts fresh talent. Tens of new employees join the company each month. Currently, there are still more than 60 open positions.
The successful young start-up strives to be the ideal workplace for everyone looking for career and personal growth. The possibility of working remotely, free consultations with a communication coach or language courses can also be a plus.
The trend of unlimited paid time-off (PTO) originates in the U.S. and is slowly spreading to other regions. In MetLife's Employee Benefits Trends study, it ranks as the top emerging work benefit. Among 2,600 employees, as much as 72% voted for the PTO.
Further, around 63% of people would turn down a job offer if it didn't include unlimited paid time-off. A labour market surely reflects this rising popularity, since Jobs board Reed reported a 20% hike in the number of new offers advertising PTO as a part of a benefit package.
Progress requires bold decisions
With the unlimited paid time-off there is no set limit on how many days of leave employees can take. Instead, they may use as many holidays as they need.
At CloudTalk, a telephony software solution provider, PTO was only introduced recently. "We have been discussing this for some time, because our employees often asked whether we would consider this modern trend", says Klaudia Nemčická, Head of the People Department at CloudTalk.
Since PTO is still a relatively new concept in Slovakia, it wasn't easy to decide on its introduction. Yet, the CloudTalk management believes that progressive companies need to take bold decisions. "We have been analysing in detail what results the unlimited paid time-off yielded at international companies, such as Netflix, GitHub or LinkedIn. We have noticed that the productivity and overall satisfaction of their employees increased significantly", comments Klaudia.
"That is why we have started 2022 having faith that this courageous change will be successful", adds Klaudia.
The unlimited PTO is not suitable for all companies
While many businesses seem to profit from introducing the unlimited paid time-off, for others this model did not pan out. In most cases where it failed, the problem was the strategy used and trust issues. One of the reasons may be that people start using the unlimited paid time-off for no reason or too often. The managers then have to deal with absences, often during the busiest months.
On the opposite side of the spectrum, there are people who don't use any extra paid time-off. They don't know how much they can afford to take. They don't want to lose their position or good reputation.
These failures are mainly caused by lack of instructions and guidance.
Freedom has to be built on rules
In order for it to work, PTO requires mutual respect between employers and the employees. It, therefore, needs an efficient implementation.
"This being unlimited paid time-off does not mean the concept has no rules. Rules, namely, don't always equal limitations. To make PTO work for us, CloudTalk has a detailed internal regulation on how our unlimited paid time-off model works. For example, it specifies exact rules on when and from whom time-off has to be requested", explains Martin Malych, one of the founders of CloudTalk.
Trust is the foundation
At CloudTalk we have considered all drawbacks of PTO and it could impact the company. "Naturally, we are aware that we are taking a big risk by introducing unlimited paid time-off. However, unless it negatively impacts the company results, we believe that employees deserve our trust", adds Martin.
It is CloudTalk's culture built upon a fair approach what constantly attracts fresh talent. Tens of new employees join the company each month. Currently, there are still more than 60 open positions.
The successful young start-up strives to be the ideal workplace for everyone looking for career and personal growth. The possibility of working remotely, free consultations with a communication coach or language courses can also be a plus.
Barbora Pridalova
CloudTalk
+421 915 244 881
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