Automate accrual tracking for improved accuracy and consistency
Employees need a break from work every once in a while to stay healthy, productive, and engaged. That’s why organizations like yours offer paid time off (PTO) in the form of vacation days, holidays, personal time, sick time, and more. While PTO is an important benefit for attracting and retaining top talent, tracking time-off accruals manually can be a tedious and error-prone process. The time and effort associated with manual calculations, spreadsheet-based record keeping, and responding to employee inquiries can place a heavy administrative burden on managers and human resources (HR) staff.
If accruals are not tracked properly, you could be setting your organization up for some serious headaches. Inaccurate tracking can cause managers to approve paid time off that employees haven’t legitimately earned. It can lead to scheduling challenges that impact productivity and service levels. It can even result in employee grievances and litigation for unfair time-off practices. And if state law or company policies mandate payout of unused PTO when an employee terminates, accrual inaccuracies can add up quickly and hurt the bottom line.
PayNortheast's accruals solution can help. Our powerful solution, an integrated service included in our payroll application, automatically calculates and tracks each employee’s accrued time off based on your organization’s specific rules, policies, and regulations. Automated accrual tracking eliminates manual errors; supports fair, consistent policy enforcement; and gives employees and managers instant visibility into current status to speed and simplify time-off requests and approvals.
Accruals that work the way you work
With our accruals solution, you can calculate and track accruals based on your organization’s specific policies. Set up benefit accrual profiles to determine the rate at which an employee or a group of employees accrues time off, including vacation, personal time, sick time, and more. Track accruals based on user-defined criteria such as hours worked; seniority; grade level; and attendance, performance, and/or wellness points. Create carry-over settings to specify whether an employee can carry forward accrued time, how much, and for how long. Automatic enforcement of policies and regulations minimizes your compliance risk while driving fair, consistent treatment of employees across the organization.
Streamlined processes improve efficiency
Our accruals solution gives clients on our timekeeping platform immediate access to accrual balances for submitting or approving time-off requests. Employees can check their accrual balances — by PTO category — via web or mobile app to make sure they have earned time off available before making a request. When managers receive an employee time-off request, they can instantly view accrual balances and approve, modify, or reject the request accordingly. Notifications automatically alert managers when employees exceed established accrual thresholds.
In addition, clients using our payroll system can display accrual balances directly on employee pay statements.
Visit our website or contact us today to learn more.
631-306-4929 Ext.3
hello@paynortheast.com
Komentáře