SEATTLE–(BUSINESS WIRE)–#benefits—PTO Exchange, a trailblazer transforming the employee benefits landscape, announces a significant achievement: facilitating over 2 million hours of PTO exchanges on their platform, equating to over $100 million. This milestone highlights the demand for innovative HR solutions like convertible PTO, which cater to the diverse financial needs of today’s workforce.
«We’re redefining what it means to support the modern workforce,» says Rob Whalen, Co-founder and CEO of PTO Exchange. «Our journey reflects a commitment to innovation, ensuring that employees have the autonomy to navigate their benefits in a way that best fits their changing lifestyles, providing both security and empowerment.»
With a mission to create the largest and most comprehensive benefits ecosystem, BNFT has been a leader in convertible PTO for years. The company is continuously enhancing its integrated platform to meet the shifting needs of modern employees, offering cost-efficient, flexible benefits and significantly reducing employee turnover by an average of 54%.
PTO Exchange has collaborated with over 130 organizations, including Fairway Mortgage, SAC Health, Easterseals MORC, Makeready Hotels, and Griffin Capital, showing a marked increase in platform activities with 50.8% of transactions occurring since early 2024. As of today, the platform has helped over a hundred thousand employees manage economic challenges by directing over $10 million in pre-tax contributions towards retirement and HSA exchanges.
“We have partnered with PTO Exchange for two years to provide a vehicle that is flexible to meet individual needs and supports our employees’ financial well-being,” says Aimee Bosma, Director, Total Rewards at Dayton Children’s Hospital. “Our PTO plans are generous, and our partnership with PTO Exchange allows our employees to benefit from their PTO hours in ways that are most meaningful to them. In fact, it is now one of our most consistently utilized benefits! Dayton Children’s employees alone have exchanged over 25,000 hours to date.”
Supported by key integration partners such as ADP, UKG, Businessolver, NFP, and Transamerica, PTO Exchange / BNFT stands as the premier choice for forward-thinking benefit solutions.
“With seamless integration into hundreds of HRIS, Payroll, and Time Attendance systems, PTO Exchange’s toolset makes implementation straightforward,” says Whalen. “As we continue to enhance our platform, we’ve introduced Savings Exchange, Giving Exchange, and LPA Exchange, providing flexible and affordable benefit options. These new capabilities help our clients stand out in the market by effectively attracting and retaining top talent.”
ABOUT BNFT
BNFT is a comprehensive benefits platform for employees to unlock the full flexibility and value of their total rewards while providing HR teams with a low-cost and easy-to-use tool. PTO Exchange, LPA Exchange, and Savings Exchange are powered by BNFT, which brings innovative solutions via one platform. Companies will have the flexibility to design cost-effective benefits while also empowering their employees to choose the benefits that support them through their transitions. BNFT is SOC 2-certified and trusted by Fairway Mortgage, Howard Brown Health, Agile Defense, UCare, Praxis Engineering, STRATACACHE, and others.
Contacts
Kristen Grossi
talkTECH
[email protected]
