Average Ratings 0 Ratings
Average Ratings 0 Ratings
Description
PTO Exchange is an innovative benefits platform that allows employees to convert their accrued vacation hours into cash assets that they can use for personal expenses and support the causes that matter to them. This unique offering provides companies with a compelling advantage that caters to the diverse needs of every employee within the organization. The platform seamlessly integrates with existing systems, empowering employees to take charge of their financial well-being. Unused PTO can be allocated towards various essential expenses such as Retirement Accounts, Student Loans, and Health Care Expenses or HSAs. Imagine being able to trade in some of your unutilized PTO to fund your next vacation—now that’s a reality. Additionally, employees have the ability to donate to over one million certified non-profit organizations, support meaningful causes, or assist colleagues who may be in need. This strategic approach not only helps to mitigate PTO balance sheet liabilities but also enhances talent acquisition and retention strategies. In essence, it creates a win-win situation for both HR and Finance departments, as they will both recognize the benefits of improved PTO offerings while simultaneously minimizing corporate liabilities. Furthermore, this initiative fosters a more engaged and satisfied workforce, ultimately driving organizational success.
Description
Enhance the financial well-being of your workforce by decreasing PTO liabilities while simultaneously boosting your company's cash flow. Sorbet’s innovative PTO cash-out feature empowers employees to convert their unused PTO into immediate cash, alleviating the financial burden on employers. This means your team can access their earned compensation precisely when they need it, all while keeping their monthly salaries intact. Notably, implementing Sorbet incurs no expense for your organization; rather, it offers a cost-saving advantage. In instances where employees opt not to cash out, your company faces no charges, but when they do, your savings increase! You can also monitor the anticipated value of your PTO liabilities over time, gaining valuable insights into both the financial and overall health of your organization. By allowing employees the autonomy to decide how best to utilize their PTO, you contribute to their financial stability. Supporting your employees in managing their finances and enhancing their quality of life can lead to improved morale, making it a mutually beneficial arrangement for everyone involved. This approach not only fosters a positive work environment but also reinforces the company's commitment to its employees' financial wellness.
API Access
Has API
No
API Access
Has API
Yes
Integrations
ADP Enterprise HR
No
ADP Workforce Now
Yes
Auth0
Yes
BambooHR
No
Deloitte Compliance Suite
No
Okta
Yes
Paylocity
Yes
SAP Cloud Platform
Yes
Workday Extend
No
Workday HCM
Yes
Integrations
ADP Enterprise HR
Yes
ADP Workforce Now
No
Auth0
No
BambooHR
Yes
Deloitte Compliance Suite
Yes
Okta
No
Paylocity
No
SAP Cloud Platform
No
Workday Extend
Yes
Workday HCM
No
Pricing Details
$1 per employee per month
Our flat monthly rate is based on a per-employee-per-month model
Free Trial
No
Free Version
No
Pricing Details
No price information available.
Free Trial
No
Free Version
No
Deployment
Web-Based
Yes
On-Premises
No
iPhone App
No
iPad App
No
Android App
No
Windows
No
Mac
No
Linux
No
Chromebook
No
Deployment
Web-Based
Yes
On-Premises
No
iPhone App
Yes
iPad App
Yes
Android App
No
Windows
No
Mac
Yes
Linux
No
Chromebook
No
Customer Support
Business Hours
No
Live Rep (24/7)
Yes
Online Support
No
Customer Support
Business Hours
No
Live Rep (24/7)
No
Online Support
Yes
Types of Training
Training Docs
Yes
Webinars
Yes
Live Training (Online)
Yes
In Person
Yes
Types of Training
Training Docs
Yes
Webinars
No
Live Training (Online)
Yes
In Person
No
Vendor Details
Company Name
PTO Exchange
Founded
2014
Country
United States
Website
www.ptoexchange.com
Vendor Details
Company Name
Shift Time
Country
United States
Website
www.getsorbet.com
Product Features
Benefits Administration
COBRA Administration
No
Claims Management
No
Deduction Management
Yes
Disability Insurance Administration
No
Employee Benefits Administration
No
FMLA Administration
No
FSA Administration
No
Flexible Spending Accounts
No
For Brokers
No
For Employers
No
HIPAA Compliant
No
Health Insurance Administration
No
Life Insurance Administration
No
Online Benefits Enrollment
Yes
Premium Billing
No
Provider Management
No
Retiree Administration
No
Retirement Plan Management
No
Compensation Management
Bonus Management
No
Compensation Assessment
No
Compensation Calculation
No
Compensation Plan Modeling
No
Compensation Statements
No
Employee Reward Programs
Yes
Incentive Programs
No
Organizational Charting
No
Salary Planning
No
Leave Management
Approval Process Control
Yes
Calendar Management
No
Employee Scheduling
No
FMLA Tracking
No
Leave & Absence Reporting
No
Leave Policy Management
Yes
Self Service Portal
Yes
Product Features
Financial Management
Budgeting & Forecasting
No
Cash Management
No
Consolidation / Roll-Up
No
Currency Management
No
Financial Reporting
No
Investment Management
No
Project Management
No
Revenue Recognition
No
Risk Management
No
Tax Management
No
Financial Services
Analytics
No
Branch Optimization
No
Channel Management
No
Compliance Management
No
Customer Engagement
No
Performance Management
No
Risk Management
No
Leave Management
Approval Process Control
Yes
Calendar Management
Yes
Employee Scheduling
No
FMLA Tracking
No
Leave & Absence Reporting
No
Leave Policy Management
No
Self Service Portal
Yes