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Paid time off (PTO)
What is a paid time off (PTO)?
Paid time off (PTO) is the time off for which an employee receives kompensaciya, the amount of which is calculated in accordance with labor legislation. In some countries, the amount paid depends on the average salary for a certain period rather than on the salary for a particular month.
The right to paid leave is legally guaranteed for full-time employees, while freelancers and independent contractors typically do not receive PTO unless specified in their contracts.
The number of vacation days is set by national or regional legislation. Some countries have a uniform standard (e.g, 28 days in Russia, 20 days in the UK), while in federal states, the rules may vary by region.
Companies usually make up vacation schedules. This is needed to balance workloads and prevent staff shortages. However, employees may also request time off outside of the planned schedule with managerial approval.
Many organizations use HRM systems to track PTO, automatically calculate payments, and manage leave requests. This facilitates the process of managing vacation schedules and makes it transparent for both employees and management.
Still keeping holiday records in Excel?
Automate leave approvals and payout calculations with HRsync’s HRM system.
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Soft skillsMental health at workHR processesHiring processProfessional developmentSoftware as a service (SaaS)HR management softwareBackground checkTalent acquisitionNew employee introductionHourly employeeContinuous performance managementAbsenteeism policyDirect reportsBehavioral interviewBehavioral competenciesPerformance improvement planFloating holidayTermination letterJob evaluationOffboardingDisability leaveSick leaveLeave of absenceTime trackingHoliday payAgile methodologyOrganizational chartEmployee experiencePaid time off (PTO)Onboarding processZero-based budgeting (ZBB)Job dissatisfactionNepotismIndependent contractorMetricsLoyalty of employees (eNPS assessment)Cross-functional teamsMatrix organizationTurnover rateVacancy rateCompetencyHoliday accrualCompensationCore competenciesKey workerKey Performance Indicator (KPI)Employee classificationEmployee directoryCareer siteCareer growthCareer pathCareer plateauWorkforce planningArtificial intelligence in HRHuman resources information system (HRIS)Intellectual propertyEmployee Net Promoter Score (eNPS)Employee life cycleRevenue per employeeHarassmentJob instructionDocument management in HRVoluntary benefitDisciplinary proceduresDisciplinary actionBusiness partnershipHR dashboardHybrid work modelBusiness agilityFlexible working hoursExit interviewEmployee burnoutOne-on-one meetingsRecruitment funnelEmployee engagementInternal recruitmentVirtual HRVertical organizationWellness programsGross incomeGross amountGross wagesEmployer brandEmployee benefitsSick leave payWell-beingHR business partnerEmployee databaseBuddy systemOutstaffingOutsourcingHR auditAssesment centerUpskillingHR analyticsJob analysisTraining needs analysisWorkforce utilization analysisWorkforce availability analysis
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