The Advanced Benefits Tracking module greatly enhances and expands the benefit and accrual capabilities of the TimeIPS system.
Most benefit and accrual policies can be accommodated with the flexible rules and options provided.
Additional features include:
- The ability to create Accruals Groups to manage employee accruals.
Each Accrual Group contains a list of employees who will earn benefits based on the settings for the group.
- The ability to create additional benefit types, such as military leave, family leave, sabbatical leave, etc.
- The ability to create additional tenure levels based on how long an employee has worked.
Tenure Level Configuration:
- Option to start after a set amount of time or after a set number of cumulative hours are worked.
For example, a tenure level could start after 90 days from hire. Or, it could start after 160 hours worked.
- Option to grant benefits to employees each accrual period at a set amount, or based on hours worked in the period
with benefits earned pro-rated. For example, if 40-hour/week employees earn 1 hour of vacation per week,
30 hour/week employees would earn 0.75 hours per week and 20 hour/week employees would earn 0.5 hours per week.
- Option to set a limit on the maximum earnings that are possible per period. This is primarily used to cap the pro-rated earnings per week.
For example, in the arrangement above (40-hour/week employees earn 1 hour of vacation per week), and employee
who worked 50 hours could still be capped to 1 hour for vacation for the week.
- Option to set a minimum time (in hours) that must be worked to qualify each period. This is used to only give benefits accruals to employees
who work during the week. For example, employees who work less than 20 hours in a week may not be eligible to earn benefits that week.
- Option to limit the maximum number of unused benefit hours accumulated. This is used to stop employees from holding too much unused benefit time.
Since this can be set per tenure level, it provides the option to have this limit increase over time.
Benefit Type Configuration:
- Optional waiting period specified in days. Can be used in conjunction with the waiting period for the Tenure level to provide a waiting period
that requires both a minimum number of hours worked and a minimum calendar time to have passed since the employee was hired.
- Option to pro-rate partial periods. This allows employees entering a period to get a proportionate earning.
For example, an employee hired in the middle of a month would get half the month's benefit earnings.
- Option to have the use of the benefit count as hours worked for other benefit types. For example, while on vacation for a week,
an employee would continue to earn additional sick time.
- Selectable Accrual Intervals: Weekly, Monthly, Quarterly, Semi-monthly, Yearly, Never
- For Weekly, Monthly and Yearly, option to have accruals occur after a set number of such periods have passed.
For example, every 2 weeks or every 4 months.
- Option for accruals to start when the employee was hired, or at any date of your choice.