What vacation vesting schedule do you use for new hires?
PPG is evaluating its current vacation vesting schedule and would like to ensure we are competitive in the current market. What vacation vesting schedule do you use for new hires? Does this schedule differ if a new hire holds a Ph.D.?
- Emily Gluvna, Human Resources Manager Research & Development
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Chris DeSoiza, Senior VP Research, Milliken & Company
Our Vacation vesting schedule is listed below. It is consistent for BS, MS and PhD’s and applies to those hired out of school. We will/have negotiated different schedule for experienced hire’s but it does not exceed the max listed below (e.g. we could negotiate 4 weeks of vacation when they start) - 0 to 4 years 80 hours (2 weeks), 5 – 14 years 120 hours (3 weeks), 15 and more years 160 hours (4 weeks)
Mike T. Gallager, Head, Innovation & Business Growth Services, Covestro
We offer new hires 3 weeks-vacation in their first year prorated to their start date. (e.g. one that starts July 1 receives 7.5 vacation days for the starting year, then 15 for the next). We do not treat starting PhD’s differently. There is no official policy regarding when vacation time is vested. With new hires, it is of course important not to allow vacation time to disrupt training and orientation. We leave it to the employee’s supervisor to approve vacation time.
David Williams, Manager, Human Resources, The Timken Company
Timken’s US vacation vesting is as follows:
<5 years 10 days
5 to 9 years 15 days
10 to 24 years 20 days
25+ years 25 days
This is no different for PhD hires; however, we will consider increasing one’s vacation entitlement based on previous experience.
Director, Large Consumer Products Company
Our annual vacation schedule for all functions in the corporation is as follows:
- 0-2 years of service: 2 weeks
- 3-11 years of service; 3 weeks
- 12-24 years of service: 4 weeks
- 25+ years: 5 weeks
Director Level and higher gets an extra week above those rates up to 5 weeks total. There is no difference based on degree, function, discipline, etc… Vacation time is accrued straight-line throughout the year, but can take when needed. Credit or debit, year to date, is calculated when the employee leaves the company. We do not allow carryover of vacation days.
Marcie Zaharee, Mitre Corporation
We have a very simple system which does not matter by rank or degree with the exception of level 7 (director). Instead it is by years of service.
13 days of vacation on day 1, 8 holidays. Vacation total remains for 3 years, then you get 1 additional day in year 4, 5, and 6. After year 6, you get 1 additional day of vacation every other year with no cap. 3 weeks is achieved at year 5, 4 weeks at year 14, 5 weeks at year 24, 6 weeks at year 34, No difference for a Ph.D.
We fully vest vacation from the get-go for all staff, which is earned pro-rata during the year.
Pro-rated each month. No difference if PhD.
If employed between Jan 1 and Jun 30, a new employee in their first year is granted 2 weeks vacation. If employed between Jul 1 and Nov 1, a new employee in their first year is granted 1 week vacation. After Jan 1 the following year (2nd calendar year of employment), the employee is granted 3 weeks of vacation. The entitlement is not dependent upon degree or position, although, under special circumstances, department directors may get approval for a variance to this policy.