Hi Rahul Saini,
Every organization needs a leave policy that is tailored to its needs and culture. There are also statutory rules from the government that need to be taken into consideration. A good leave policy is simple, easy to administer, fair to all parties, and compliant with the statutory requirements. Employees need to be made aware of the Leave Policy.
Adding to this, a leave policy has the following components:
1. Different leave types an employee can avail
2. Various rules for each of the leave types
3. Weekend policy
4. Holidays list
Organizations have the following types of leave apart from general holidays:
1. Earned leave (EL) - also called as privilege leave (PL)
2. Sick leave (SL)
3. Casual leave (CL)
4. Leave without pay (LWP)
5. Maternity leave (ML)
6. Paternity leave
7. Compensatory Off
From the employer's perspective, there is a lot of thinking and work that needs to be done if we are to professionally handle Leave Management. We can break up the activity into a variety of sub-concerns:
1. Leave policy design (different leave types and leave rules)
2. Granting of leaves (increase leave balance of employees by certain amount of days)
3. Tracking leaves taken (quantum of leave days, when, and the reason)
4. Year end activities such as lapsing leave, automatic leave encashment, and carry forward of leave balances
5. Providing leave information to employees such as leave card balances and leave details
6. Preparing MIS reports
7. Leave analytics such as absenteeism, top leave takers, or leave liability, etc.
To get a hands-on experience on all these features, you may signup here:
https://www.greythr.com/signup/