A tool designed to determine the rate at which paid time off (PTO) is accumulated by an employee, often factoring in variables such as employment status (full-time, part-time), tenure, and company policy. For instance, a full-time employee might accrue PTO at a rate of 8 hours per pay period, while a part-time employee might accrue at a proportionally reduced rate. These tools can provide estimates based on different inputs, allowing employees to project their available PTO balance.
Accurate prediction of available time off is essential for both employees and employers. For employees, it facilitates effective planning of vacations and personal time, contributing to improved work-life balance. For employers, it aids in accurate payroll management and resource allocation. Historically, calculating accrued time off was often a manual process, prone to errors. Automated tools streamline this process, increasing efficiency and transparency.
