Vacation accural

Spartacus

I need some help. I am trying to modify our vacation policy to reflect our desires. We currently give a full week after the first year, 2 weeks after the second year and so on. We need to modify our policy to reflect time earned by the amount of time (hours) an employee has worked. We have had some extended leave of absences and need to determine what may be fair in the future in regards to holding back vacation days that are not earned. Is there an accepted formula for vacation days earned verses hours worked?
I will take any good advice that you have.

HR in CA

Our policy states that x amount of hours are earned each pay period. If the employee misses more than a week during any pay period, then they get a pro rated accrual for the pay period. If the employee does not work the entire pay period, then no accural. I hope this helps!

Spartacus

[font size="1" color="#FF0000"]LAST EDITED ON 03-26-04 AT 03:15PM (CST)[/font][br][br]OK, great. I also received a great email with some attached policies from their company and it really helped. Thanks again.

Sandy

The system we have is set up as Paid Time Off (or PTO for short). Hours are earned for hours worked by all employees. We also include overtime for hourly employees. For those that work less hours in the year, they earn less vacation, for those that work more, they earn more.

For salary employees they earn based on 8 hours days. They are allowed to take up to a half day off without requiring the use of any PTO and still get paid for the full day.

A standard formula was created based on the number of days the company wanted to give it's employees. We lump all days off in one formula (vacation, sick & personal days). The formula changes at 5 years & 10years.

We currently have a cap of 1 1/2 times your annual accrual that can be kept in your "bank" of hours. If you would like our formula, please let me know.