May 13, 2019 · All About Leave | PTO Management,
To setup leave types, there are many options available. Here are some important ones:
- Leave Type Name: Public name to identify the PTO/Leave policy
- Description: Optional field to explain the details of the leave type. You can also include references and examples here.
- Accrual Details:
- Accrual Threshold (Weeks): Minimum number of weeks an employee should be in the company, for this policy to take effect. An employee can be assigned to this policy as part of their onboarding, but the policy will not be available to the employee, until the “accrual threshold” time has passed from the joining date.
- Annual Accrual Rate (Hours): Maximum number of hours that an employee will earn in the course of a year under this particular leave type.
- Accrual Type:
- Continuous Accrual: Employees will earn time progressively and proportionatelly as the year goes by.
- Accrual at the beginning of period: Employees are entitled to the full/maximum number of hours defined under the “annual accrual rate” at the beginning of the period.
- Carryover Details:
- Carryover (Percentage): Percentage of remaining balance at the end of the period than can be carried over to the next period. This is also called “Rollover Percentage”.
- Maximum Carryover (Hours): Maximum number of hours that can be carried over to the next period. This is also called “Maximum Rollover”.