What all companies should consider when creating a paid time off policy.
Giving your employees enough vacation days and paid holidays is one of the easiest ways to increase the productivity and morale at your company. Since payroll is already a fixed expense every month, giving your employees the time off they need to relax doesn’t come with a big cost. When creating your holiday time off program, keep these guidelines in mind.
Vacations and Holidays
Paid vacations and holidays are the backbone of any employee benefits package. Allowing your employees the time off to relax with their friends and family will ensure that they are able to head back to work more productive. While the paid time off holidays that you offer at your company will vary, there are six main holidays that almost all companies have off, including New Year’s Day, Memorial Day, Fourth of July, Labor Day, Thanksgiving, and Christmas.
While there are several items that are included under social responsibility, the two most common are jury duty and bereavement. It can be very difficult to get around paid time off for jury duty based on the law. The second most common is bereavement, or allowing time off for the death of a family member. While bereavement is optional, it should always be an option for employees to help them cope with the grief and stress of losing a loved one.
The Family and Medical Leave Act
None of the above benefits are included in the legal requirements that all companies face under the Family and Medical Leave Act. Under the rules of the act, all employers who have 50 or more employees are required to provide 12 workweeks of job-protected, unpaid leave for specific medical and family reasons.
For help creating the right paid time off policy to benefit your business and employees, contact HR Solutions & Brokerage in Lakewood, Colorado.