In People by Wagepoint you can set up many time off policies, and employees can be assigned to multiple policies at once. Here are a few examples:
Setting up a Maternity/Paternity leave policy
Creating a sick time policy outside of a regular time off policy
Having a floating holiday policy outside of regular policy
Making an FMLA or bereavement policy available
Having multiple policies for your employees can help them understand the time off that's available to them outside of their normal PTO plan.