Managing Employee Time-Off Efficiently

TimeOff

Among the most fundamental employee issues that human resources has to manage well is paid time off. Most large companies with several thousand employees, follow the conventional paid time off format which includes vacation and sick time, however smaller companies may sometimes follow different formats. Keeping track of time off, if not done well, can be an expensive proposition for a company. In spite of this, a number of companies still track time off the old fashioned way- manually. Besides being complicated and time consuming, it is also inefficient. While there are a number of time management software solutions out there, it is best to choose one that offers all aspects of time tracking and compliance.

Most labor laws favor leave policies that meet state-specific compliance regulations so it is important for companies to choose a time tracking system that has this capability. Well managed time off can lead to greater efficiencies, less unscheduled absenteeism, more value about flexibility of time by employees and greater employee work-life balance. The paid time off approach is one of the human resources strategies that have seen success in recent times. There have even been suggestions around creating additional value around it so that employees can use it for their 401k.

Some other categories of paid time off include bereavement time, jury duty and military leave. Many organizations believe that publicizing this unique benefit helps employees to appreciate the company more. As far as choosing the right time off software, the higher end ones allow employees to get a single view of usage and balance and allow managers to conveniently approve or disapprove time off requests with a single click.

Accurate time off data is crucial for effective payroll processes and, if data collection is conducted manually, it often results in overpayment or underpayment to employees. This is not a good situation for professionally-run companies and could result in potential lawsuits. This is also true for companies who use archaic time management methods such as punch cards, paper timesheets or spreadsheets. Current statistics indicate that many mid-sized companies rely on this method of collecting time off data for their employees. Not surprisingly, one of the unpleasant results of this method is ‘time theft’.

A challenge that some companies face when it comes to effectively and accurately administering leave requests is volume. Each employee makes a variety of leave requests annually and ensuring that they’re all accounted for correctly often becomes very difficult. There are a number of variables that are involved such as employee category, job type, usage of time off till date, etc. These add to the approval/non-approval process and can slow things down. Staying on top of the process becomes difficult.

Effective workforce management is what differentiates a good organization from an average one and automating simple tasks can lead a company to success.

Avatar
ABOUT THE AUTHOR
Replicon
Replicon provides award-winning products that make it easy to manage your workforce. With complete solution sets for client billing, project costing, and time and attendance management, Replicon enables the capture, administration, and optimization of your most underutilized and important asset: time.
Get started today.
Set up a free trial based on your business needs. Start Free Trial

Global Compliance Desk – Karnataka, India

India: Karnataka Government Permits Shops To Remain Open 24/7  On January 2, 2021, the Government of Karnataka issued a notification that allows all shops and commercial establishments in Karnataka, having…Read More

Want Real Solutions That Help You Manage Expense Tracking in Real-Time? We’ve Got Them.

A comprehensive expense tracker can provide your organization with clear insights into how corporate time and dollars are being spent and help you identify unnecessary costs, strains, time-wasting activities, and…Read More

Project Leaders: Here Are 3 Signs Your Remote Project Managers Are Overwhelmed with Technology

Overwhelmed project managers. They are not hard to find. And if you look closely, you’ll probably find a few right within your organization. As it is, project management is stressful…Read More

Consulting firms: 4 ways to improve billing & get paid on time

At the end of the day, your consulting firm relies on the assumption that a good percentage of clients will honor their payments promptly and accurately. In the professional services…Read More

5 Ways to Improve Service Delivery in Your Organization

In a highly competitive market, service-based businesses need to capitalize on any opportunity to set themselves apart from their (often very similar) competitors. While implementation, system details, and service management…Read More

Demystifying the millennial workforce: 5 tips from Trunk Club’s Andrew Anderson Devine

Time magazine labels the millennial generation the “most threatening and exciting generation,” infamous for “narcissism [and] its effect: entitlement.” In the workplace, the perception of the millennial workforce is no…Read More
  • Polaris
  • Time & Project Insights
  • Time & Projects Solutions
  • Replicon Products
  • Replicon Users
  • Cloud
  • Corporate
  • Professional Services Management
  • Shared Services Management
  • Time and Attendance Management
  • Customer Feature
  • Time Intelligence
  • Industry News
  • Global Compliance Updates