Offering your team time off is a great way to reward them for their hard work. You might want to create a policy for vacation, sick leave, or general paid time off. When you're creating your policy, one of the first things you'll need to think about is how often your team earns more time off. Keep reading to learn more about each accrual method.
If you choose to give your staff more time off per period, they'll earn a set number of hours each pay period.
For example, if your workers are paid biweekly and earn 5 hours per period, they'll earn 5 hours every two weeks. They can use that time throughout the year, but if their time-off balance reach zero, they'll have to wait until the next pay period to be able to take time off again.
If your team earns time off per year, they'll receive a set amount of hours each year. They'll receive this time in one lump sum on the day your policy starts over.
For example, if your team earns 130 hours per year, and you're policy starts over on January 1, they'll receive 130 hours each year on January 1.
If your team earns time off per year, they'll receive a set amount of hours each year on the anniversary of their hire date.
For example, if your team earns 130 hours per anniversary, and someone started on May 17, they'll receive 130 hours each year on May 17.
Per hours worked
If your team earns time off per hours worked, they'll receive a set amount of time based on how many hours they worked.
For example, your team might earn 4 hours of time off per 40 hours worked.
If you create a work-related policy, you'll be able to track how often your team works outside your office. You might use this to track when your staff is working at a client's office or goes to a conference.