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I have "unlimited PTO" at my office, which sounds nice, but what it effectively means is that you now have to police yourself, to determine whether or not you're taking off "too much." Which ends up meaning that the vast majority of employees take less PTO than they're entitled to (or if they were just given a set amount to take each year), because they're afraid of being seen as a slacker, or someone who is taking advantage of the PTO policy. Since there are no set guidelines, it means it's left up to you to decide how fearful of unemployment you are, and how much you let that influence your vacation days.
Out of "Unlimited PTO," I take about 7-10 days off a year 🙃
I have “unlimited” with the handbook specifically saying we’re to take at least four weeks a year, and it’s the first time in my career I’ve actually been getting time off because of it. Everywhere non unlimited it was never actually approved and I’d get a lousy check every year for it. You know what’s way better than money? Time off.
If you and your coworkers aren’t using your benefit perhaps you all should discuss it and work out reasonable minimums you all expect to take and then take it. And don’t judge your coworkers for taking any of it.