Paid Time Off
The purpose of paid time off (PTO) is to provide you with flexible paid time off from work that you can use for needs like vacations, personal or family illness, holidays, doctor appointments, school, volunteerism and other activities of your choice.
When you first start at Novant Health, you will be provided a lump sum of PTO equal to your weekly scheduled hours.
For example, if you are:
- Part-time scheduled to work 24 hours per week, you will be provided with 24 hours of PTO.
- Full-time scheduled to work 40 hours per week, you will be provided with 40 hours of PTO.
In addition to the lump sum PTO you will receive, beginning the first day of the month following your date of hire, you will accrue PTO each pay period according to the following schedule.
Accrual based on 40-hour work week
"Annual number of days" assumes 26 pay periods of PTO accrual.
Months of service
Hourly accrual rate
Annual number of days
|12 ‐ 23||8.92||0.111538||29|
|24 ‐ 59||9.54||0.119231||31|
|60 ‐ 179||10.47||0.130875||34|
|180 or more||12.00||0.150000||39|
First 11 months of employment
During your first 11 months of employment:
- You will accrue PTO at an hourly accrual rate of .080800 to adjust for the lump sum PTO bank you receive at the time your benefits become effective.
- The number of days you will accrue is based on the number of pay periods you accrue PTO, subject to the new hire benefit waiting period rule.