The Time Off feature helps you manage everything related to employee leave in a way that is accessible and transparent to employees and managers. When creating Limited Time Off policies that are fixed, the accrual cycle needs to be set. For Limited Fixed Policies, the employees receive a certain amount of time off hours or days, and the accrual cycle determines when they accrue that time off.
There are three accrual options:
Calendar year (1st of Jan until 31st of December)
Custom date (customize when your fiscal year starts)
In this article, we will explain how to apply the different options to your time off policies.
Option 1: Calendar Year (January 1st)
This option allows you to accrue time off based on a calendar year, meaning from January 1st until the 31st of December.
If you select this option:
Head over to the Accrual settings tab and decide whether the accrual occurs on a weekly, biweekly, monthly etc. basis, or all at once at the beginning of the year.
Next choose the next accrual date, if applicable, for example, the first of the month.
Define how many leave days users accrue each cycle. In our example, users accrue 1.5 days per month, resulting in a total of 18 days per year.
Finally, decide whether employees should earn additional leave based on their tenure. For example, employees who have been with the company for more than one year may accrue 2 additional days a year.
In the example below, employees will receive 15 days per cycle, which means they will receive all their days on the 1st of January, all at once.
Option 2: Custom Date
For companies that don't follow a standard calendar year, you can set a custom date for your fiscal year, for instance, April 1st. Now, time off balances will reset based on the custom date you set.
If you select this option:
Head over to the Accrual settings tab and decide whether the accrual occurs on a weekly, biweekly, monthly etc. basis, or all at once on the custom date you set.
Next choose the next accrual date, if applicable, for example, the first of the month.
Define how many leave days users accrue each cycle. In our example, users accrue 1.5 days per month, resulting in a total of 18 days per year.
Finally, decide whether employees should earn additional leave based on their tenure. For example, employees who have been with the company for more than one year may accrue 2 additional days a year.
In the example below, users will receive 1.5 days every month, on the first of the month.
Option 3: The Employee's Work Anniversary Date
By selecting this option, users will accrue time off according to their anniversary date.
In the example below, if an employee is eligible for 20 days per year and their start date is March 5th, they will receive the 20 days annually on that date.
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