What is a floating holiday and why is it different than PTO (Paid time off)?
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For my employer PTO is approved based on work place needs and first come basis. Only a certain percentage of employees can use PTO at the same time. Even though it’s a paid benefit.
We also get one personal holiday that, if we choose, can be assigned to a short list of less recognized holidays. This arrangement must be made at the start of year, but allows the employee to have that day off regardless of how many others have the day off. If the employee does not choose to assign that day to a holiday it is handled like a PTO request.
Both are paid.
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