CoxHealth to invest $2.7 million in a paid time off fund for employees
CoxHealth will begin offering two weeks of paid time off to employees when unable to work due to COVID-19 confirmation or exposure.
“We made this decision for the benefit of our employees who may be affected by COVID-19, as we want to support them in this time of uncertainty and we feel it’s the right thing to do,” said Steve Edwards, president and CEO of CoxHealth.
If 10 percent of the health system’s employees utilize the benefit, it will result in a $2.7 million investment by the health system. Funding for the benefit will come from a variety of sources, including from the annual employee banquet, which has been cancelled in light of COVID-19 concerns.
However, the vast majority will come from operating revenue from CoxHealth and flow through the CoxHealth Foundation’s Employee Assistance Fund, which has existed for decades to help support employees in time of need.
The funds are available to employees in the following categories:
• Employees who are confirmed to have COVID-19.
• Employees in multiple and extreme high-risk categories.
• Employees who are put off work because of possible exposure.
• Employees who need to care for a family member because of a COVID-19 diagnosis.
The benefit will be available to full and part-time benefits-eligible employees across the health system. This fund is being established in addition to existing ETO and sick leave programs.