Download BambooHR PTO Requests

Performance reviews also up year over year, says report Paid time off (PTO) requests across the world reached a four-year high in January 2024, according to new data from BambooHR.Its latest Workforce Insights Report revealed that the first month of the year saw 56% of employees globally making PTO requests.This follows an increasing trend of PTO requests annually, going up an average of 11% globally since 2019, according to the report. It noted, however, a growing gap of unapproved PTO requests across the world.Despite PTO requests increasing annually, approvals only went up nine per cent since 2019. By month, only 49% of PTO requests are getting approved despite the new high in requests.In the US, only half (51%) of the 32% of PTO requests filed monthly are getting approved. By industry, the finance and non-profit sectors saw the highest PTO requests in February.Source: BambooHR Performance reviews also upMeanwhile, the number of employee performance reviews is going up 15% annually, with January 2024 seeing 28% more completed reviews than the same period last year."Most employees just completed a review cycle, as reviews typically happen in the winter (November–January) or summer (June and July)," the report said.In the US, there are only five peer reviews for every manager review, much lesser than the average of 17 in other countries.Source: BambooHR Anita Grantham, Head of HR at BambooHR, said the data indicates how employees value work-life balance and direct feedback more than before."Managers looking to retain talent will need to take a closer look at what staffing needs they have and if increasing PTO and performance feedback is possible," Grantham said in a statement."The workforce isn't shy about asking for these things. I think we'll only see this trend continue and organisations will have to increasingly embrace those values to attract the new generations entering the workforce."Global turnover downThe findings come as global turnover decreased by 25% from February 2023 to February 2024, according to the report.It also found that hiring went up 27% between December 2023 and February 2024, with recruitment outpacing turnover through January and February. Job openings went up 54%

For PTO requests, the platform’s data showed.By contrast, in February, the finance industry had the highest proportion of PTO requests to employees, followed by nonprofits, according to the data. When employees take time off, they return energized and focused, which, in turn, benefits employers and customers, an exec previously said. Business leaders can set the example by taking time away themselves to fully unplug, the exec recommended.Performance reviews also peaked this January, compared to last year, according to BambooHR. Although, this is the time when most employers have just completed their winter review cycle (November through January), the report noted. To prepare for the June/July review cycle, HR pros may want to consider developing a culture of continuous feedback, which can assuage unease about the process and get workers and managers on the same page about expectations and deliverables, experts have said. The workforce isn’t shy about asking for PTO or feedback, BambooHR’s Grantham said. “I think we’ll only see this trend continue, and organizations will have to increasingly embrace those values to attract the new generations entering the workforce,” she noted.

Packets Expertly efficient onboarding features Gain a support system you can rely on. While our HR software helps you optimize and support your workforce at every stage of growth, our Customer Support Heroes also provide the same award-winning level of care no matter the size of your business. We’re with you every step of the way. Free learning courses and educational webinars Product Pulse product update video series and archive Customer Support available through email, phone, and chat Yes, you can also have seamless payroll runs. When everything from time-tracking and PTO management to benefits and payroll lives inside BambooHR, you put separate-system nightmares to bed forever. With our fully powered and integrated platform, you get: Faster, more accurate payroll runs Smarter, smoother workflows A more intuitive compensation experience How to Get the Quick Hire and Shorten Time-to-Hire Learn how shortening your time-to-hire impacts ROI and helps you compete in the hunt for top talent. Learn More 5 Payroll Pain Points Solved by BambooHR Running payroll in BambooHR just makes life easier. Here are the specific pain points we solve. Learn More Meet Anne Seebach See how the head of people and culture at a growing company like yours took recruiting to the next level with BambooHR. Learn More

Simplify your HR tasks from hire to retire. Take the first step with our Essential HR Checklist. Get Started Find everything you need to manage your people in one convenient place. Hiring & Onboarding Quickly find, hire, and onboard the best talent with a powerful applicant tracking system and proactive onboarding tasks. Payroll, Time, and Benefits Track hours, manage benefits, and run payroll accurately and seamlessly. No more data double entry or manual approvals. Employee Experience & Performance Develop a thriving culture with tools for feedback, satisfaction, and performance. HR Data & Reporting Discover data that works for you. Stay organized through in-depth reporting and insights driven with your employees at the center of it all. Save time and money with our award-winning software. Feel the love! Your experience is at the heart of everything we do—when you succeed, we succeed. “BambooHR changed the way HR delivers value to the business. We can now collaborate with other departments and be secure in metrics like headcount, pay rate, and PTO accrual.” Basudha Bhattari-Johansson | VP HR & Sustainability | Probi | 185 Employees “I love just being able to go to one place for everything. We have consolidated many systems into BambooHR, and the goal is for our employees to never need to leave BambooHR.” Josh Franklin | HR Program Manager | CTI, Inc. | 350 Employees "Every person at BambooHR is helpful and kind, and that means a lot. As someone who is chasing down problems all the time, having