The full form of PTO is "paid time off". It is a human resource management policy that provides employees with a pool of bankable hours that can be used for any purpose, including vacation time, sick days, and personal days off. In a large corporation, a PTO policy typically bundles employees’ personal days off, sick days, and vacation time in a single block of hours rather than specifying separate numbers of days allowable for each reason. PTO plans are used primarily in the United States, where there are no laws for minimum vacation time. The policy should also specify whether or not an employee can cash out unused PTO when leaving the company.