Switch to PTO nearly eliminates sick days

The 350 employees who work for nine Monarch Bank branches in in Virginia call in sick no more than a collective 10 days a year. That wasn’t always the case. Until five years ago—when bank execs combined sick leave and vacation time into a use-it-for-anything paid-time-off (PTO) bank—each employee was far more likely to use all of his or her 10 paid sick days rather than forfeit them.