View Time Off Statement, Accruals, Lapsed Time off, Time off type and Time off event pertaining to each time off type
More often than not, it is a case of a treasure hunt as employees uncover the types of time off that they are entitled to. Redirected to their respective HR Partners or juggling between multiple internal portals to uncover their available leaves .
With every organization doubling down their focus on employee experience, it becomes really imperative for the organisation to make their employees well aware of their time off policies. How are their leaves getting accrued, what are the different events that are associated to one's time off activities, what are the different Time Off that one can avail, why was there a lapsed event on the time off earned & how is it getting boiled down to that one number which indicates their current time off balance. Questions like these are to be answered day in and day out by the HR business partner.
Also, it becomes a very cumbersome process to get oneself acquainted with the ins and outs of their time off policies. To break through such error prone tasks and come out as efficient while delivering the information pertaining to one's time off, Freshteam introduces Time off statement, a comprehensive time off statement, that gives employees all the information they need pertaining to their time off.
Accessing time off statement
In order to view one’s time off statement the user must do the following:
1. Go to Time Off on the right side navigation tab and hover over the same
2. Click on Employee time off from the time off selections
3. On the Employee time off page click “View Time Off Statement”
Below GIF demonstrates the same
Understanding Time Off Statement
Your Time Off Statement has a “Time Off Type” dropdown field that comprises different time offs that are available for your employees, based on organizations policy. Below Image shows the same
Each “Time Off Type” comes with various details pertaining to employees' time Off. The new time Off statement encapsulates the information around every Time Off event that defines an employee Time Off. Different Time Off event that are described below:
Accruals Credited: Event which corresponds to Time Off that an employee has earned but not yet used. This time off is then carried over to the next year or is paid out when an employee leaves the company. As a company, how many days are allowed to be carried forward is made of several combinations of teams, departments, regions and so on. Freshteams’ Time Off statement and its details makes it easy for employees to view their Time Off and how accruals work based on their respective policy.
Time Off Lapsed: Event that corresponds to Time Off that got lapsed due to exceeding the max cap on the Time Off type. The capping on Time Off Type can be defined while creating the policy. Similarly for Time off lapsed, through Time off statement and its details, employees can look through, how the policy accommodates lapsing of time off
Balance adjusted: Time Off event, through which the admin can add or deduct a time-off balance for the employees in their company
Time Off Requested: Time Off event indicating a Time Off that an employee applied for.
ew Policy assigned: The start of the new policy at the time of assignment of it to newly onboarded employee or when new policy gets applicable due to expiration of the existing policy
1. Created on: The date when the time off event took place (includes accruals & Lapsed time off event)
2. Time Off event: The type of time off event for which the time off was applied (includes accruals & Lapsed time off)
3. Dates Applicable: Applicable dates for which the Time-off is applied/ taken
4. Days: Total days for which the time-off was taken (includes Time off lapsed & accruals)
5. Balance: The remaining number of days in one’s time off post time off event
Below image shows how Time Off Statement accommodates Accruals that got credited as well as the Time Off that got lapsed.
In order to understand your Time off better and why it is the way it is, the Time-off Statement elaborates your organization's time off policy and how it works for different Time Off Types. In order to view details for different time off types, simply click on “View details” on the Time off Statement itself, as shown in GIF Below
Below Image walks through time off details for Earned “Time Off Type”
Details corresponding to the Earned Time Off type are elaborated. Based on the Policy set in the example, the following are the details:
Accrual Schedule: Explains the cycle of Time Off type assigned to the employee
Accrual Rules: Provides information on rules that are defined while assigning the Time Off to the employees.
Minimum Balance: What is the minimum Time Off Type that can be kept by employee
Maximum Balance: Maximum cap on the number of days that an employee can withhold at any given point in time for a particular Time Off Type.
Balance Policy: Provides information on what is the maximum amount of Time Off that can be carried forward by the employee for a given Time Off Type
Additional Rules: If there are any secondary rules that are to be followed while applying for Time Off
With the New Time Off Statement it becomes easier for the employees to keep a track on how Time off works corresponding to their policy. It brings more visibility to employees while understanding their Time Off and keeps HR and employees from falling through back and forth communication which takes up most of their productive time.
While the Time Off statement gives employees the power to understand and be well informed of the Time Off Nitty Gritty, how and what leads to accruals, lapsing with respect to employees/ region policy, but that's not it, there's more to it. With the new Time Off module, employees can plan, chart and manage their time-off activities for a future date. Click here to understand more.