Company-specific variable paid days off
A vacation and leave plan/package will often consist of several elements such as:
Public holidays
Company-specific fixed paid days off or special days
Company-specific variable paid days off
This article explains how to add company-specific variable paid days off to a vacation and leave plan using the day bank.
What are company-specific variable paid days off?
Company-specific variable paid days off are days off that:
are earned continuously (e.g. annually or monthly)
are not tied to a specific date
can be taken freely by the employee
They are always linked to a balance and can, for example, be senior days or other company days.
Unlike fixed days off, which are set on a specific date, variable days can be used flexibly.
When should you use the day bank?
Use the day bank when:
employees earn days continuously
the days can be taken freely
a balance is needed
Do not use the day bank when:
the days are on fixed dates – in that case, use custom registration types.
Setting up a day bank with earning
Go to:
Setup admin → Modules → Day bank
1. Name the day bank
Choose a name that describes the purpose, for example:
“Senior days”
“Company days”
“Days off”
The name applies to the entire day bank and functions as one combined day bank – not several separate banks.
Optionally, name the minus day the same as the day bank, since employees will select this when they want to take a day off.
2. Set up earning for the day bank
Fixed earning of the day bank balance is set up via policies, where you enter the desired number of days and the time of transfer.
You can give different employee groups different earning, as this is managed through their policy.
3. Give employees access
Go to the employee's master data card
Activate Day bank
Note that the default label "Day bank" will change to the name you set up in the module settings.
Once the employee has access to the module, the balance will be visible and the employee can start using it right away.
When the employee registers days off, they can see:
number of days available
number of days being requested
number of days left if the registration is saved
Important rules
The balance can go negative (the system will show a warning)
Weekends and public holidays do not count towards usage
The day bank is a single combined balance for all types of days
If the day bank is to be used by all or most of your employees, it's a good idea to activate access to the module as a default setting for new employees.