In present-day business, there is a plethora of paid and non-paid leaves available to employees. Non-paid leaves include sick, annual, maternity, casual, compensatory and paternity leave. With all these different types of leave compensations to handle, the Human Resource department is always occupied with a relentless list of employees requesting and granting leave. This process is often exhausting as it takes too much time and resources to manage it.
Managing employee leave may feel like an inevitable workload for an overworked HR department. Doesn’t it? Striking a clear-cut balance between a satisfied, motivated team and a successful organization can be tricky. However, an effective leave management system ensures your business runs smoothly without any hassle.
Here is how you can leverage your company's leave management system in a more efficient and cost effective way.
Types of employee leaves in India
Many Indian companies offer various types of leave, paid or unpaid, so their employees can have a healthier work-life balance. Though the details may differ from one company to another, office leave types are nearly the same throughout the world. Moreover, many companies offer additional benefits to their employees in form of additional leaves. Let us divulge into the different types of office leaves that exist.
HR Leave Management System
Wallet HR provides a leave management system, also known as LMS, which is a module that assists companies to easily and accurately allocate, monitor and permit leave. This also allows employees to request and keep track of their leaves. Based on the number of days given within a certain period of time, the system automatically computes the necessary allocated leave based on the company's leave policy.
Why is a leave management system important these days?
Leave management is a fundamental part of any organisation. As the organization grows in size, we must ensure that the employees are compensated well in terms of their leaves. Below are some of the important features of the leave management system.
We must ensure smooth functioning of the company's operations even if an employee is on a prolonged leave. Based on the availability of resources, the leave tracker helps the admin to approve or reject leaves.
It is important to maintain a record of all paid leaves taken by your employees during a particular time period. State statutory requirements require the maintenance of such records in every organisation.
It provides a comprehensive view of the leave trend and how it impacts the overall business operations. It allows them to submit an online leave application. On the basis of these reports, you can draw meaningful conclusions and, if necessary, take corrective measures.
It’s crucial to record the leaves taken by employees and outstanding balances to create & maintain a leave policy. In addition to this, the record also provides the employees with a way to keep track of their leave balances and entitlements.
Purpose of leave management in an organization
The primary purpose of the leave management system is to track leave and pay employees for the time they have spent in the organization.
Calculating leave entitlements and payments will be less complicated if leave and holidays are tracked accurately. This way, you'll avoid having to pay backdated leave to your employees or even paying a fine for backdated leave.
In addition, it helps to properly plan your team members' leave and avoid frequent unplanned leaves. Planning ahead will ensure you have adequate cover when an employee is on prolonged leave as opposed to scrambling at the last minute. These risks directly have severe effect on the company's productivity in meeting its goals and deadlines.
Using an efficient leave management service or software will help you to keep a track of leave in easier and accurate way. Management will spend less time on monitoring and responding to leave requests and the system will maintain accurate company-wide records, so you can easily check leave totals and demonstrate legal compliance.
Knowing that your employees are getting the right amount of leave will increase their trust and confidence in the business. As a result, employees are happier and more engaged, which ultimately results in productivity and success for the company.
Organizing your business is also important to your employees. The remaining team members may have to cover extra work if leave is poorly managed and many people taking leave at the same time can lead to chaos at workplace. Poor leave management could make you liable for a greater amount of damage if the leaves are not paid out correctly.
Employees can check their balances on leave and request leaves electronically through this sophisticated leave management system. This increases transparency and reduces paperwork for employers.
Having a work-life balance promotes good health at the workplace, reduces stress, and eliminates unscheduled days off. The absence of an employee can create a significant difference in any business if it is not tracked properly.
You may not know how many days your employees take every year and how much that impacts your business if you don't have the tools to accurately track leave, especially sick leave.
A right leave management system can give you much better insight into leave patterns across your business, so that the company operations do not suffer even when an employee is on a planned extended leave.
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