A Paid Time Off (PTO) is a bank of hours that can be pooled for any purpose. It combines all kinds of leaves like sick leave, vacation leave, leaves for a personal reason, medical leave, casual leave, etc. Some companies provide a fixed number of days per year, which are accrued at regular intervals.
Managing time off for employees on spreadsheets, manually recording all time offs, calculating their leaves, accruals, carry overs, etc. is a difficult task. It may lead to errors in calculations and payrolls and results in waste time and efforts. Some of the features of OfficeClip Time Off are:
View various categories of leaves with balance. Simply submit a time off request, and your manager will instantly be notified.
The Administrator streamlines the approval process by setting up an approver(s) for each user.
The manager will receive a notification or email alert for approvals and, with one click, approve/reject the time off's.
Employees can see how much leaves they have taken, how many are available, and accordingly plan for time off through web or mobile devices.
It allows you to view all your team's time off request in one place, instead of checking emails from different users.
Your team can see who is available or who is out of the office.
This Calendar view will help in the proper designation of work and allows the manager to plan employee time and manage project schedules.
Check details of employee availability through various Reports.
Management can view these reports to streamline work and make decisions on the delegation of work.
The supervisors or managers receive an instant notification when time off request is made.
The users also receive a notification if their time off is approved or rejected.
Accruals are the amount of vacation time that an employee has earned as per a company's employee benefits policy, but which has not been used or paid.
The accruals are usually accrued at a fixed rate every month or each working day. Employees can use them from their account, and some unused portion can be carried off to the future years.
For example, Tom accrues one day per month as personal leave accrued over a period of one year. This adds up to 12 personal leaves in one year. If all the leaves are not used up in the current year, Tom can move 6 personal leaves to the next year. At any point of time, Tom cannot accrue more than 20 personal leaves. All additional leaves will expire or are paid at the end of the year.
Create different types of categories for various time offs. Each category has a different set of accruals.
Accrual policies may vary from person to person, depending upon the years spent in an organization and designation.
The Administrator can view the time off history of all categories of time offs at a glance.
These accrual policies will give a clear idea about the leave management and will simplify the payroll process.
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