Just wondering if anyone out there is already ultilizing a vacation accrual approach based upon an employees calculated years of service (based upon dates of hire/rehire)? If so, would you mind sharing your forumals and how its setup? TIA
Just wondering if anyone out there is already ultilizing a vacation accrual approach based upon an employees calculated years of service (based upon dates of hire/rehire)? If so, would you mind sharing your forumals and how its setup? TIA
FYI: I have a separate vacation accrual setup that does not interact with the Vacation pay taken. So, we do have to enter negative units to the accrual pay when someone takes vacation. If your PR person isn't detail-oriented, this can cause issues when they forget to do the negative accrual.
We accrue vacation weekly and give 80 hours for those with less than 5 years and 120 hours for those with over 5 years. This is what our formula looks like. It does not take into account if someone leaves and then comes back. In that case, the HR manager sets up a reminder in their calendar to change their accrual amount when they reach 5 years taking into account the number of months/years they carry over from their previous tenure with us.
Works great and automatically ups the accrual amount when an employee reaches their 5 year anniversary.
Hi RCousino,
Check out How do I set up a Vacation Pay Accrual? in our knowledgebase - there are example formulas that include both a probationary period and tiered accruals based on tenure.
Thansk!
I appreciate the response. Thank you! This does help, but it also begs another question for me, "if you accrue units (hrs) per pay period, how are accruals then handled for employees who are active, but may not receive a check in one week, but do the next? How would the system, in week 2, account for the make-up of accrual hours missed in week 1?"
This is helpful. Thanks for the response.
I've never had someone not work at all from one week to the next that is accruing. They are taking vacation or sick and so the accrual happens with those pays as well as their regular pay.
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