Vacation policy
HollyatSouthEastBank
24 Posts
We have a vacation plan that gives new hires, 10 working days of vacation on the January following their hire date, (no matter when they hire in during the year, whether its Feb or Dec. The question is: Does anyone have a plan that would give the person hired in say Feb 15th a few days, before January 1st. So they don't work 10 months without vacation...(poor babies)
Comments
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[FONT=Times New Roman][B]302 VACATION BENEFITS[/B][/FONT]
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[FONT=Times New Roman][SIZE=3]Vacation time off with pay is available to eligible employees to provide opportunities for rest, relaxation, and personal pursuits. Employees in the following employment classification(s) are eligible to earn and use vacation time as described in this policy:[/SIZE][/FONT]
[CENTER][CENTER][FONT=Times New Roman][SIZE=3] [/SIZE][/FONT][/CENTER]
[CENTER][FONT=Times New Roman][SIZE=3]FULL TIME EMPLOYEE VACTION EARNING SCHEDULE[/SIZE][/FONT][/CENTER][/CENTER]
[FONT=Times New Roman][SIZE=3]YEARS OF ELIGIBLE SERVICE VACATION DAYS EACH YEAR[/SIZE][/FONT]
[SIZE=3][FONT=Times New Roman]1ST YEAR [/FONT][/SIZE]
[FONT=Times New Roman][SIZE=3]Hired January through June Five (5) working days during the current [/SIZE][/FONT]
[SIZE=3][FONT=Times New Roman] year to be taken anytime after 90 day new [/FONT][/SIZE]
[SIZE=3][FONT=Times New Roman] hire introductory period is over.[/FONT][/SIZE]
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[FONT=Times New Roman][SIZE=3]Hired July through December No days to be taken during the current year[/SIZE][/FONT]
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[FONT=Times New Roman][SIZE=3]Beginning January 1st of the next year, an employee is eligible for Ten (10) days to be taken at any time. This is based on accruing .83 days per month. Officers of the bank with the level of Vice President or higher are eligible for Fifteen (15) days to be taken at any time. This is based on accruing 1.25 days per month.*[/SIZE][/FONT]
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[FONT=Times New Roman][SIZE=3]ONE YEAR TO NINE YEARS Ten (10) days[/SIZE][/FONT]
[FONT=Times New Roman][SIZE=3]AFTER TEN YEARS Fifteen (15) days[/SIZE][/FONT]
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[SIZE=3][FONT=Times New Roman] PART TIME VACATION EARNING SCHEDULE[/FONT][/SIZE]
[FONT=Times New Roman][SIZE=3]YEARS OF ELIGIBLE SERVICE VACATION DAYS EACH YEAR[/SIZE][/FONT]
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[FONT=Times New Roman][SIZE=3]1ST YEAR[/SIZE][/FONT]
[FONT=Times New Roman][SIZE=3]Hired January through June The number of days during the current year[/SIZE][/FONT]
[SIZE=3][FONT=Times New Roman] will be equivalent to the average number of[/FONT][/SIZE]
[SIZE=3][FONT=Times New Roman] days worked over a one week period since[/FONT][/SIZE]
[SIZE=3][FONT=Times New Roman] employment. (90 day new hire introductory [/FONT][/SIZE]
[SIZE=3][FONT=Times New Roman] period applies).[/FONT][/SIZE]
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[FONT=Times New Roman][SIZE=3]Hired July through December No days taken during the current year.[/SIZE][/FONT]
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[FONT=Times New Roman][SIZE=3]ONE YEAR AND AFTER The number of days will be equivalent to the[/SIZE][/FONT]
[SIZE=3][FONT=Times New Roman] average number of days worked over a two[/FONT][/SIZE]
[SIZE=3][FONT=Times New Roman] week period during the most current year.[/FONT][/SIZE]
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[FONT=Times New Roman][SIZE=3]All employees are required to take at least one consecutive week (five consecutive business days) of vacation each calendar year. Additional paid vacation time can be used in minimum increments of 4 hours. To take vacation, employees should request advance approval from their supervisors. Requests will be reviewed based on a number of factors, including business needs and staffing requirements.[/SIZE][/FONT]
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[FONT=Times New Roman][SIZE=3]Vacation time off is paid at the employee’s base pay rate at the time of vacation. It does not include overtime or any special forms of compensation.[/SIZE][/FONT]
[FONT=Times New Roman][SIZE=3]In the event that available vacation is not used by December 31st of each year, employees will forfeit the unused time; the new vacation period begins January 1.[/SIZE][/FONT]
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[SIZE=3][FONT=Times New Roman]*In the event an employee leaves the bank for other than gross misconduct, the employee will be paid accrued but non-used vacation days at .83 or 1.25 as noted. Likewise, if the employee has used vacation days in excess of the accrued time, the employee’s final paycheck will be adjusted accordingly. [/FONT][/SIZE]
I like doing it this way much better than the way we used to do it; when I was hired in 1982 we had to wait until the one-year anniversary of our date of hire to have any paid vacation time at all.
The first of the month following their date of hire, they have 5 paid sick days to use during their first year, if needed. January 1, they recieve 10 days.
Year 1-4 = 2 weeks vacation (80 hours) -- VP and above = 3 weeks
Year 5-9 = 3 weeks vacation (120 hours) -- VP and above = 4 weeks
Year 10+ = 4 weeks vacation (160 hours)
Vacation begins to accrue immediately upon hire at:
1.54 hours per week for an ee with 2 weeks vacation
2.31 hours per week for an ee with 3 weeks vacation
3.08 hours per week for an ee with 4 weeks vacation
Although vacation begins to accrue immediately, ee not allowed to use vacation during first 90 days of employment.
Applies to both exempt and non-exempt positions.
Hope this helps.
Sharon