So your business has grown enough that you have full-time employees and want to start offering benefits, including paid leave. How do you create a vacation policy that works for you, your business and your employees? There is no one-size-fits-all solution, but here are some things to keep in mind and tips to get you started.
Determine Benefits: Before setting a policy, you need to find out how much paid leave you will offer and how it will be collected by employees. Traditional companies usually offer two weeks of vacation after a certain service. But many modern companies fine-tune or end up changing the model that offers two weeks of vacation right off the bat, or even unlimited leave as long as the employee gets their job done. You want to choose something that meets your company's needs while providing an advantage that is attractive to employees.
Set your policies: Employees should be clear about how to officially apply for leave, whether and how much prior notice is required, and any limits for when or for how long they may be absent. You also need to establish rules about whether leave can be transferred, banked or traded, or whether employees must "use it or lose it." Finally, decide who needs to approve the leave and how that response will be communicated to the employee.
Manage your program fairly: If you can not afford to have too many employees at once, it is important to use a calendar system and set clear guidelines for vacation planning Everyone should have a chance to take important days off, and your systems should be neutral and equally enforced so that no employee feels that another is receiving special treatment.
Make a plan for coverage: When an employee is on vacation, is it acceptable for them to leave their job until they return, or does someone else need to fulfill their duties? Will the company be responsible for arranging the coverage or the employee? These are important questions to answer when taking a paid leave, so that your company does not suffer while your employees are away.
Encourage Time Off: The idea that a good employee is one who never spends all of their vacation is outdated. Research has consistently shown that employees who take time off and maintain a good balance between work and life are more productive, creative and happy in their work. In other words, employees who take vacations are actually better employees. Because of this, some companies actually give employees extra money to go on vacation. If you can not go that far, at least encourage your employees to use their paid leave and to really relax from work while they do so.
For any of your business insurance questions, call or contact Keller-Brown Insurance Services today.