Each company is different and needs some customization. With LeaveBoard, it's easy. To add a new time-off policy, you need to follow these actions:
In this way, you might add a time off type to track WFH, Travel, Parental, or even Working from the office.
Our system works with annual accruals. This means that at the beginning of the fiscal year (by default Jan 1, however, this can be changed), all employees' allowances will be reset to their yearly values, which can be configured at the company and employee level.
Note that with our recent allowance earned function, you can identify what is the number of vacation days, any employee is having as if that value has been accrued on a monthly basis. This function is particularly used for compliance reasons, and also to determine the actual number of days available for an employee that is leaving the company, on a particular date.
The system works on annual accruals for all the employees, and the accrual/reset date is the start of the company's fiscal year, not the hire date of each employee. With LeaveBoard, you can access an HR analytics dashboard, where you can see all the hire dates of your employees, the years in service, and in how many days the next year in service will take place.
If your business using such a leave policy, we recommend switching to one that starts on a fixed date (for example, Jan 1) for all employees, and you will be able to follow much more accurately the annual leaves of your staff, monitor the allowances, and remove errors in leave calculation. When switching from this policy to annual leave and starting to use LeaveBoard, we recommend first calculating the remaining days of each employee for the ongoing year till Dec 31 into a spreadsheet and the general allowance that each employee gets at the beginning of the year. Once you have these two time off variables, creating a new company account on our HR system and setting the employee allowance will be very easy.
You might be interested in how to edit a leave policy or modify employee allowance.