How to Track PTO?
We all love vacation days, right? The perfect time to unwind, spend time with family, take a trip, or relax. The thing is, for managers and employers, hearing: “I’m on vacation from tomorrow” may be the start of a stressful period. They know that with one employee gone for a few days, the challenge is not only to fill his position but also to make sure the whole team works the same way it usually does.
Many companies use outdated methods for tracking paid time off, like informal emails, one-on-one discussions, Excel spreadsheets, or post-its. Poorly tracking your paid time off will cost you and your business a lot of money.
PTO tracking should be as carefully treated as the financials of your organization. We strongly recommend you waste no more time and start using paid time off tracking software. Below, we will present a short guide for you to follow in your quest for your company's adequate PTO tracking software. We will also explain what such a tracker is, what value it can add to your organization, and convince you to implement one as soon as possible.
What is PTO tracking software?
A PTO tracking software is an automated leave management system designed to simplify your organization's approval workflow. By tracking paid time off, managers will have a clear view of who is and who will be in the office, who is supposed to replace them, and for how long. It's also useful for the employees because they have it clear who is the manager in charge of handling the leave requests. A PTO software is also great because it allows implementing custom leave policies for every company's needs, and the employees have easy access to them.
Why does your company need a PTO tracking software?
It allows for a centralized process - since all leaves are securely stored in one place, you will benefit from a more stable flow.
Almost all PTO trackers offer flexibility because they can be accessed and used anytime, anywhere, and from every device (on the web, mobile phone, laptop).
You save valuable time by forgetting about a long flow of approval, including a supervisor, manager, and HR staff. A PTO tracker will keep all records up-to-date, and with a few clicks, you will check every information you need.
Cost reduction is a significant advantage. You will save a great deal of money by cutting down on manual intervention and physical paperwork. You will also save money indirectly by making better decisions regarding staffing and scheduling.
Productivity is a big YES since you will spend less time reviewing leave requests and more time focusing on strategic matters as a manager or business owner.
Transparency is also an upside: creating customized leave policies for your organization will tell your employees that you are sincere and open.
How to customize your leave policy in a paid time off tracker?
Here is a short checklist you should use in customizing a PTO tracking software for your company:
- Clearly state the standards of eligibility for employee paid time off (for example, if seniority is a plus in acquiring extra days or not);
- Specify the maximum days' employees are entitled to take as PTO;
- Specify and explain the accrual method;
- Present the approval workflow for every team and employee and implement a simple PTO request form;
- State if partial days off are allowed and if yes, how to be handled;
- Present the methods of payment afferent to all types of leaves.
What should a great PTO software offer you?
A paid time off management software should first make you forget about PTO tracking spreadsheets, prone to human error, and can waste a lot of admin time.
Let’s check out the main characteristics you need to search for in a PTO tracker app to streamline your PTO management:
- Easy to use for both employees and managers, user-friendly;
- Customizable policy settings;
- Automated accruals;
- Simple approval flow;
- Automatic updates and notifications;
- An interactive calendar that shows possible conflicts of PTO;
- Multiple integrations;
- HR reporting.
PTO tracking can reduce costs in your company and decrease conflicts by supporting managers in handling the time-off requests and all other leave of absence demands. So, get rid of spreadsheets, saved emails, colored post-its, and embrace technology! PTO management software will bring you various advantages that will turn into money.
Check this free guide: 7 Aspects You Need To Know Before Buying Cloud HR Software For Your Business