CTalk“You have to make sure that your employee benefits plan is recession-proof”
“You have to make sure that your employee benefits plan is recession-proof”
As inflation occurs around the world, and fears of a recession rise, Sorbet Co-Founder and CEO, Veetahl Eilat-Raichel, discussed the need to disrupt Paid Time Off
“We don't quite know what this next period of time is going to look like. I think in periods of uncertainty, you have to make sure that your employee benefits plan is recession-proof,” explained Veetahl Eilat-Raichel, Co-Founder and CEO of Sorbet. The solution connects with company systems to analyze the usage and consumption of PTO (Paid Time Off).
She continued: “One of the things you are going to try to avoid is anything unpredictable. One thing people don't necessarily understand about paid time off is the accrued aspect. When people don't take time off, it just accumulates and accumulates, and actually balloons with increases in pay. When you then have to either downsize or become more efficient and let go of people, which very often happens, that’s when you realize that these payouts that you have to give to your employees could actually be very expensive. I would encourage HR professionals to actively look for ways they can mitigate that in advance.”
One of the biggest challenges of PTO in a post-Covid era is balancing the work and personal lives when working from home. “It is a completely blurred line, and our lives are a lot less clear and clear cut than they used to be… so this entire universe needs to get disrupted significantly which is what we are trying to do with our solution.”
You can watch the entire exchange in the video above.