A New Wave of Highly Differentiated Benefits: Manifold's Investment in PTO Exchange
Manifold Group is excited to announce our investment in PTO Exchange, a highly differentiating benefits platform that converts unused paid time off (PTO) into liquid assets for employees while limiting balance sheet liabilities for employers. With PTO Exchange, organizations can diversify their benefits offerings to meet the evolving demands of a multi-generational workforce that is accruing and not always using earned PTO.
“PTO Exchange is a game-changer for employers looking to retain and attract top talent, especially now during ‘The Great Resignation’ and for years to come. Along with a patented benefits platform, CEO Rob Whalen’s decades-long experience navigating corporate benefits programs demonstrates incredible thought leadership and drive. The Manifold team is very excited to support PTO Exchange and their mission to provide highly differentiated benefits.” — Matt Anarde, Founding Partner
Our decision to invest in PTO Exchange was influenced by their healthy business, effective channel sales and partnerships, and proven traction with their go-to-market strategy. Even more so, CEO Rob Whalen’s highly experienced management team has the depth of skills and aptitude to genuinely address the nuances of corporate benefits in a refreshing and engaging method.
Further, PTO Exchange delights and retains workers uniquely while limiting the employer’s liability posed by forfeited PTO.
For employers, a ballooning financial liability comes in the wake of data showing that only 54% of American workers utilize their eligible PTO, resulting in an annual forfeiture of $65 billion in benefits. COVID-19 accelerated this ballooning as work-from-home became commonplace amongst a vast majority of workers.
The few general approaches to PTO in America limit workers’ abilities to transfer their unused PTO into any economic benefit, adding to the already-present frustration of not feeling like they can detach from work or use their PTO in a meaningful way.
“PTO Exchange allows workers to truly transform their PTO into flexible benefits like contributing to retirement accounts, paying student loans, booking travel accommodations, donating to nonprofits and so much more.” – Matt Anarde, Founding Partner
PTO Exchange’s patented solution – the only solution of its kind in the US – allows workers to apply the value of their unused paid time off to a range of priorities that meets their specific needs, all while limiting the liability for employers. The PTO Exchange platform addresses and manages the multitude of state and federal tax laws and compliance requirements so employees can access this form of compensation without unexpected tax consequences.
Let’s forge the future together. Reach out to us at email@example.com to learn more about our investment approach.