PTO, Inc., the company revolutionizing the employee benefits industry, rebrands to BNFT. The new name reflects the company’s evolving mission and platform—to deliver innovative benefit solutions that support the whole employee while supporting bottom-line costs, creating win-win solutions for employees, HR, and the CFO.
Over the past 11 years, BNFT has not only been the first of its kind in the convertible PTO space but has also led the category for flexible benefit offerings. The company is building a better benefit ecosystem for employers and their employees with its PTO Exchange and LPA Exchange product offerings, with additional exchanges to be released in the near future—all powered by one seamless platform that integrates with payroll systems and banks.
“As our products, platform, and vision of the company have grown along with the value we are delivering to our customers and their employees, the PTO, Inc. name no longer portrays our mission,” said Rob Whalen, Co-founder & CEO. “Since the beginning, we have believed that benefits should be flexible, portable, and owned by the employees who have earned them. As the multi-generational workforce has grown, so has their diverse needs, reflected in benefits from student loan assistance, childcare, fertility support, eldercare, emergency savings, and overall life planning.”
Companies need to rethink total rewards and go beyond traditional methods to meet their employees where they’re at. The sum of the products powered by BNFT will give companies the flexibility to design cost-effective benefit solutions that support their employees through their transitions in life. This will ultimately help companies increase employee engagement and reduce turnover, as BNFT has already helped reduce turnover across all industries by an average of 54%.
BNFT works with hundreds of companies in various industries (including Easterseals, MORC, Makeready, and Griffin Capital) and has exceeded over 1.4M hours of PTO exchanged on its platform, equaling $67M. With integration partners like ADP, UKG, Businessolver, NFP, Transamerica, and many others, BNFT has become the trusted platform for innovative benefit solutions.
Along with the new company identity and vision, BNFT has come full circle with the release of its mobile app, which will support the web platform and all the exchanges. The app is now available on iOS and Android.
“We’re truly revolutionizing the employee benefits industry and are excited to continue building out additional exchanges that provide value to our customers and their employees,” said Whalen.
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