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PTO
PTO is a benefit that allows employees to take time away from work while still receiving their regular pay.
PTO stands for ‘Paid Time Off’ and references paid time that an employer is required to provide to employees. Each country has different paid time off minimums, and companies are required to comply. Employers may opt to provide the minimum requirement as per local law, or they may offer above what is required. Companies will have a PTO policy that outlines how PTO is administered: how it’s accumulated, how it is to be used, and how it is applied for and approved.
Related Glossaries
Midmarket
Midmarket, or Middle Market, is defined as a segment of businesses.
Performance review
A formal assessment in which a manager evaluates an employee’s work performance.
W2
A W2 is a tax form used in the United States to report an employee’s annual wages and the taxes withheld from their paycheck.
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