Vacation Policy for Compensation Package - MyAssignmenthelp.com

Question: Discuss about theVacation Policyfor Compensation Package. Answer: Four Items related to vacation leave pay to be addressed in the policy to ensure compliance with employee standard Vacation policies need to be identified as a part of the total compensation package offered to an individual employee working for an organization. The four major vacation leave pay policy that an organization in Canada needs to follow are: Vacation pay based on base pay: Canadians are entitled to get a minimum two weeks of vacation and the employees are entitled to a pay of 4% of their regular wages earned in last year including bonuses, overtime[1]. Vacation pay for temps: Employees working on assignments through an agency are entitled to 4% pay of the period of employment. Vacation accrual on leave: Employees on maternity, parental or other leaves also continue to accumulate vacation time for two weeks per year available only when they worked for the full year. Scheduling a vacation: In order to meet the organizational demand, the vacations of the employees are scheduled as well and the employees are given vacation on the basis of their needs[2]. Recommendations: It is recommended that the employees could be given vacation based on scheduling. The vacations need to be scheduled in order to reduce the problems that might occur in absence of the employees. The employees could be given accrual leave as lesser percentage of employees are found to avail this particular leave. Scheduling the leaves is the most important way of curbing extra leaves and at the same time the organization would have the minimum presence rate of employees required. References: Canadabusiness.ca (2017) Government of Canada, Canada Business Network Available at: https://canadabusiness.ca/government/regulations/regulated-business-activities/human-resources-regulations/employment-standards/ [Accessed on: 8-5-2017] Community.gov.yk.ca (2017) Employment StandardAvailable at: https://www.community.gov.yk.ca/pdf/es_faq.pdf [Accessed on: 8-5-2017]