Create a PTO Policy
Before you start setting up Paid time off Policy, you must have already created a Paid Time Off Category. Here are instructions on how to set up a Paid Time Off Policy on the Knit Platform:
- Open the Time Off tab, click Policies on the top menu, and select Add PTO Policy in the top right corner
- The Setup a Paid Time Off Policy page will open. Select the PTO Category you would like to create a policy for from the PTO Category drop-down menu. On this page you can also view the policy's PTO category settings and see if employees will accrue time by hours or days.
- Select Save, you will then be directed to the Customize paid time off policy page. Enter a name for the PTO policy
Set up Policy Accrual Levels
- In the Policy starts in & Type fields, enter the amount of time an employee has to be employed by your company before they are eligible to begin accruing paid time off for this policy.
For example, if an employee is eligible to start accruing Vacation time after their 3-month probation, you would enter '3' in the Policy starts in field and you would select 'Months' from the Type drop-down menu
- In the Accrual Amount & Frequency fields, enter how many days of PTO the employee will accrue and the frequency of when the employee will receive their accruals. For example:
- If you would like your employees to accrue 1 day of Vacation for each month worked, you would enter '1' in the Accrual Amount field and you would select 'Monthly' from the Frequency drop-down menu
- If you would like your employees to receive 10 vacation days for the entire year, you would enter '10' in the Accrual Amount field and you would select either 'Yearly' or 'Anniversary' from the Frequency drop-down menu
- If you select 'Anniversary' from the Frequency drop-down menu, accruals will revolve around the employee's start date/work anniversary
- If you select 'Yearly' from the Frequency drop-down menu, accruals will revolve around the calendar year
Other Accrual Frequency options include Weekly, Bi-Weekly, Semi-Monthly & Monthly
- The options from Start On drop-down menu differ from the selection you make from the Frequency drop-down menu:
- If you select Weekly as your accrual frequency, you will be prompted to choose a day of the week
- If you select Bi-Weekly as your accrual frequency, you will be prompted to choose a start date
- If you select Monthly as your accrual frequency, you will be prompted to choose a day of the month
- If you select Yearly as your accrual frequency, you will be prompted to choose a day of the month from the On the drop-down menu
- From the Carryover Type drop-down menu, indicate if the time off policy has a carryover option by selecting either None, Unlimited or Up to...
- If you select Up to..., the Hours per year will appear. Enter the maximum amount of hours the employees can accrue in a year.
Setting up Additional Accrual Levels
If your employees are eligible for more vacation time after reaching an employment milestone, you can add an accrual level to the PTO policy, and their accrual rate will update automatically once they reach this milestone. To add another accrual level:
- Select the green "Add Accrual Level" button
- In the Policy Starts In & Type fields, enter the amount of time that has to pass before the employee starts accruing at this level
For example: An employee accrues 2 weeks of vacation per year, but after the employee's 2nd anniversary, they will start accruing 3 weeks of vacation annually:
- In the Policy starts In field, you would enter "2" and in the Type field, you would select "Years"
- In the Accrual Amount & Frequency fields, you would enter "15 days" and "Annually."