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Cash-Out Programs Are Rare Among Hernando Businesses
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Published: September 3, 2008
BROOKSVILLE - Cashing in vacation time is uncommon in the private sector - but not unheard of, particularly in health care.
The companies that own Hernando County's three hospitals - Oak Hill, Spring Hill Regional and Brooksville Regional - allow their employees to accrue vacation days.
They are not required to use them before a certain date, although there often are limitations to how much vacation time a person can use at once. The standard is two weeks.
Health Management Associates, the company that owns Spring Hill and Brooksville Regional, also offers a "buy back" system for employees, said human resources manager Claudia Jack.
Employees are permitted to buy back - or cash in - vacation every quarter, but they must maintain a minimum balance of 40 hours.
"We have a very market-competitive benefits program," said Jack.
On the retail side, vacation policies are not as generous.
Full-time employees at the Wal-Mart Distribution Center in Ridge Manor earn one week of vacation after one year of service, two weeks after two years, three weeks after seven years and four weeks after 15 years.
"The rule is you have to use vacation within the year when it becomes available," said Wal-Mart spokesman Greg Rossiter.
For instance, someone who starts work May 1, 2008, will not earn 40 hours of vacation until May 1, 2009. That person would then have until May 1, 2010, to use it.
Such a policy is considered standard for full-time employees.
Publix, by comparison, has a similar policy, but does offer money in exchange for unused vacation.
Full-time employees are granted one week of vacation after one year, two weeks after two years, three weeks after 11 years and four weeks after 21 years.
Vacation time cannot roll over from year to year, but Publix does offer a "work-through vacation" policy. Basically, employees who have 80 hours of vacation may cash in half of it.
However, whatever vacation time is not used by the end of the year can be added to an employee's Christmas bonus, said Publix spokeswoman Shannon Patten.
Reporter Tony Holt can be reached at 352-544-5823 or wholt@hernandotoday.com.
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