To create a new time off policy, select the Time Off Policies page and follow these steps...
1. Select the '+ Create New Policy' button.
2. In the window that opens, document a unique policy name. You can also enter an optional policy description. Then select the 'Create time off policy' button to continue to the policy configuration settings.
3. If you want all new employees to be automatically placed into this policy moving forward, you can select the 'Mark as default policy' box.
4. Time Bank Allowance: In the time bank allowance section, you can configure how often employees will accrue time and on what date.
You will see each time bank listed that you can choose to use in your policy, currently you can choose to use a Vacation, Sick and PTO time bank and each bank can be set to accrue time differently. Select 'Manage' to the right side of each bank to open that banks configuration window.
5. While in the time bank allowance configuration windows, you can adjust the following settings for each time bank.
-Beginning Balance: Designate a beginning balance of hours in addition to the accrual of hours at the chosen frequency. Employees who are newly added to the policy will receive the hours stated in the beginning balance and will start accruing hours based on that time banks allowance settings.
-Accrual Frequency: Select how often you want time to accrue for each time bank. You can chose between weekly, biweekly, semi-monthly, monthly or yearly.
-Accrued Hours: Select how much time you want to accrue at your chosen frequency. You can input whole hours or time up to two decimal places.
-When Will Time Begin To Accrue: Select the date or day of the week you want time to start accruing for each time bank.
-Does Time Bank Allow Negative Balance: Configure if you want to allow employees to go into a negative balance or not with the selected time bank. If set to No, employees will not be able to submit any time off requests for the selected time bank if they are requesting more hours than they currently have accrued.
Note: If your company does not wish to use a specific time bank, be sure to put '0' for the amount of accrued hours and to not allow a negative balance. The time bank will still be visible for employees but will have a zero balance and employees will not be able to request time off with the specific time bank.
6. Accrual Start Date: Designate if you want employees to start accruing time immediately after their hire date or if a waiting period is required before new employees qualify to start accruing time. Be sure to have a employment start date listed in each employee's directory if your policy requires a waiting period.
7. Maximum Balance: This section allows you to determine when employees should stop accruing time, if at all. You have the option to select No Limit or add a custom maximum possible balance for each time bank.
8. Carryover: Customize how your company allows employees to carryover hours they have not used at the end of their benefit year. You may allow employees to carryover all unused hours, up to a specific amount or none at all. Additionally, you may allow employees to carryover unused hours up until a specific month.
9. Paid Holidays: You can customize the paid holidays on each policy. We set up default holidays for you to choose from but you may also add your own.
-Select the 'x' to remove any unused holiday.
-Select 'Add paid holidays' to add holidays or add a custom holiday.
10. Employees Assigned To This Policy: Add or remove employees from the selected policy from here. Select 'Assign employees to this policy' to get started.
- to add employees to the policy, select the '+ assign employees to this policy' button. Then go through the list of employees and select who you are adding in as you scroll. Or you may use the many filter options to quickly find the employees you want to add to the policy.
- You can also quickly assign or swap employees to different policies from the Time & Pay tab of the employees directory profile. Edit the time off policy section in the profile to quickly assign an employee to any existing policy in your account.
Note: Only account owners and admins will have access to create and edit time off policies.