PTO Exchange is a benefits platform that enables employers to turn unused paid time off (PTO) hours into liquid assets for employees, which can then be converted into retirement savings, student loan repayment, travel awards, donations to charitable causes, and more. PTO Exchange provides a flexible solution to help organizations maximize employee benefits and minimize the loss of accrued PTO.
How does PTO Exchange work?
The platform integrates with employer HR systems to track and manage unused PTO balances. Employees can choose to convert their unused PTO hours into a range of options including:
- 401(k) or retirement plan contributions
- Student loan repayments
- Travel vouchers or experiences
- Donations to charitable organizations
- Other financial wellness opportunities
This approach helps companies address the challenge of unused PTO accrual while giving employees meaningful and personalized benefits.
Who uses PTO Exchange?
PTO Exchange’s platform is used by organizations across various sectors aiming to modernize their benefits offerings and increase employee satisfaction. Some customers include:
- Spencer Hospital
- SAC Health
- Easterseals
- Fairway Mortgage
These organizations leverage PTO Exchange to provide more value to their workforce and to streamline PTO management.
How was PTO Exchange started?
PTO Exchange was founded by Rob Whalen (Co-Founder / CEO) and Todd Lucas (Co-Founder / CTO), along with Rob Schwend (Vice President of Product and Integration), Josh Reinhard (Vice President of Sales), and Steve Armstrong (Vice President of Finance and Operations). The founding team brings expertise in software development, HR technology, and employee benefits, shaping the platform’s focus on innovation and usability.
What makes PTO Exchange stand out?
PTO Exchange is recognized for its unique approach to employee benefits, turning a traditional liability (unused PTO) into an asset that supports employee financial wellness and personal goals. The company has gained media attention from outlets like Bloomberg News, The Washington Post, Fox Business News, HR Executive, SHRM, and GeekWire for its innovative solution.
For more details about their mission and team, see the About page.
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