Accessible to Admin, Account Admin and HR Partner.
As a company, your time-off policy is different and unique from the rest based on your company rules and regulations. There are different leave types like sick, earned, etc., whose balances are fixed or tenure based. Whatever your policy is, Freshteam's Time-off Policy creation can help you set it in simple steps and get you in the going.
To know how to create a time-off policy in Freshteam with a fixed balance, click here.
If you want the balances to be tenure based additions, read on to know how to set it in Freshteam.
As you create your policy and set the time off balance, you can choose whether it is a Fixed Balance or Tenure Based Addition.
If you choose Tenure Based Addition, you can set the balance reward rules in the Policy Rules Section after saving your Timeoff Type and setting your Holiday & Workweek options. See the image below for reference.
Now, let's look at a scenario where we set up the tenure-based accrual for a better understanding of how it works.
As you can see in the above video, you can add days to the existing balance as the years of employment completion happens. The rule is simple and straightforward to set.
Once you have set the rules, view the Final Tenure Summary to check once and make any changes you want to the rules.
After you are done, save the policy and map the teams you want to it.
Voila! You are done.