Paid time off, or leave, across vacation days, sick days, and holidays is an important component of an employer's benefit package in Connecticut. The rules for paid time off, or leave, differ by company size and may change at the state level. Designing the appropriate plan for your unique employee group might help improve retention and recruitment.
The first element to consider is whether you want to provide a consolidated leave plan or not. A consolidated leave scheme provides one sum of time for staff to take off. Workers who do not have unified leave plans frequently use several separate leave policies for distinct reasons. Consolidated leave packages are becoming increasingly popular among businesses in Connecticut (39%).
A paid time off, or paid leave, plan combines both sick and personal days into one account. This gives employees more options and the employer greater control. At five years of service, Connecticut employers had an average of 23 days of leave in a consolidated plan vs. 16 vacation days after five years of service. The average for consolidated plans is 26 days at 10 years while the average for paid vacation is 19 days.
Paid vacation is offered by the majority of employers, either as part of a consolidated leave plan or as a separate policy. Employers in Connecticut provide paid vacation 85 percent of the time. This might be industry dependent, such as an hourly employee at a retail store vs. a technology firm. Download our Mployer Insights report to learn how your benefits compare.
Holidays are an important part of a leave package and will differ by company size and sector, such as retail versus manufacturing. 33 percent of businesses provide their employees with fewer than six paid holidays. 55% offer between 7 and 10 paid holidays, while 26% give more than 10 paid holidays. New Year's Day, Independence Day, Labor Day, Thanksgiving, and Christmas are commonly included as core holidays, which may be expanded to include Veterans Days, Memorial Day ,and other occasions. It is up to the employer's discretion.
Download your free Mployer Insights report to see how your firm's paid time off plan compares to those from businesses with a similar structure and size in Connecticut. Understanding how your policy stacks up against organizations like yours may be beneficial when it comes to recruiting new talent and retaining current staff.
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