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Special Accrual policy

  • 27 May 2024
  • 2 replies
  • 27 views

Dear Community,

 

I need support to set-up a special accrual policy for annual leave: We reward extra entitlement based on tenure, we have to follow the rules below:

Standard: 14 days/year

- After a completion of 1 year of service: 15 days

- After a completion of 3 years of service: 17 days

- After a completion of 5 years: 19 days

- After a completion of 7 years: 21 days

 

How can I set-up this in the system?

Thank you so much for your quick help in advance!!!!

best regards, LegoMD

2 replies

Userlevel 6

Dear @LegoMD 🤗

Thanks for posting in our community. Happy to have you here. And apologies on the delay to get back to you on this one 😥

You can grant extra entitlement based on tenure while setting up your Accrual policies. On the 5th step “Tenure-based rules” You will have the option to set how many extra days an employee gets each year:

In this case, you will go for the Recurring reward type, as days will be given each year. Here you will be able to chose an End point as well.

If you've chosen an accrual year start date that doesn't coincide with the employee's work anniversary, you'll need to establish a time for granting rewards.

You have two options here. You can either give the reward at the start of the accrual year following the employee's work anniversary, or on the actual anniversary day. If you opt for the second choice, you have the flexibility to prorate the reward in the first year it's granted, depending on the anniversary date.

 

I hope you find this information useful 💡

Best 

Fernanda

 

 

 

 

 

 

Userlevel 2
Badge +4

Dear Fernanda,

 

many thanks for your reply!!!

However in the meantime I took the One-off reward type and so I could set-up the rules according to our requirements mentioned above: 

I wish you a great day and best regards, LegoMD

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