Buying and Selling of Holiday Policy Introduction CORETX recognises the need for staff members to achieve a satisfactory work life balance. The purpose of this policy is to enable staff members the opportunity to increase flexibility to alter their holiday entitlement, by buying additional holiday days, or by selling some of their holiday days in the following year. This policy details the guidelines of the scheme. Eligibility This scheme is available to all staff members who have signed an Employment Agreement. 1 What is this policy about? 1.1 Extra holiday may appeal for all different reasons; the chance to spend more time with family, special holidays or simply time to complete a personal project. Alternatively, if staff members wish to use less than their full holiday entitlement, this policy gives the staff members the opportunity to exchange some of their holiday for additional salary. It is all about giving you some extra choices and flexibility. 2 Are there limits to how much leave I can buy or sell? 2.1 Yes, staff members are legally entitled to 28 days per full year (minimum of 20 days’ holiday and 8 Bank/Public holidays) and this cannot be paid in lieu of taking these days. Holiday entitlement would be pro rated for part time workers. So whatever combination of buying and selling staff members are considering, they must always ensure that their holiday days do not fall below 20 days per year. CORETX’s annual holiday entitlement for staff members is included as a clause within the Employment Agreement. 3 Entitlement 3.1 Full time Employees Staff members working on a full time basis will have the following entitlements: The maximum number of days staff can buy is: 5 days The maximum number of days staff can sell is: 3 days if your annual holiday entitlement is 23 days 4 days if your annual holiday entitlement is 24 days 5 days if your annual holiday entitlement is 25+ days 3.2 Part time Employees For staff members working on a part-time basis the maximum amount of holiday they can buy or sell will be calculated on a pro rata basis. 3.3 Fixed Term and Casual Employees
Buying and Selling of Holiday Policy Introduction CORETX recognises the need for staff members to achieve a satisfactory work life balance. The purpose of this policy is to enable staff members the opportunity to increase flexibility to alter their holiday entitlement, by buying additional holiday days, or by selling some of their holiday days in the following year. This policy details the guidelines of the scheme. Eligibility This scheme is available to all staff members who have signed an Employment Agreement. 1 What is this policy about? 1.1 Extra holiday may appeal for all different reasons; the chance to spend more time with family, special holidays or simply time to complete a personal project. Alternatively, if staff members wish to use less than their full holiday entitlement, this policy gives the staff members the opportunity to exchange some of their holiday for additional salary. It is all about giving you some extra choices and flexibility. 2 Are there limits to how much leave I can buy or sell? 2.1 Yes, staff members are legally entitled to 28 days per full year (minimum of 20 days’ holiday and 8 Bank/Public holidays) and this cannot be paid in lieu of taking these days. Holiday entitlement would be pro rated for part time workers. So whatever combination of buying and selling staff members are considering, they must always ensure that their holiday days do not fall below 20 days per year. CORETX’s annual holiday entitlement for staff members is included as a clause within the Employment Agreement. 3 Entitlement 3.1 Full time Employees Staff members working on a full time basis will have the following entitlements: The maximum number of days staff can buy is: 5 days The maximum number of days staff can sell is: 3 days if your annual holiday entitlement is 23 days 4 days if your annual holiday entitlement is 24 days 5 days if your annual holiday entitlement is 25+ days 3.2 Part time Employees For staff members working on a part-time basis the maximum amount of holiday they can buy or sell will be calculated on a pro rata basis. 3.3 Fixed Term and Casual Employees
Buying-Selling-holiday-PolicyV2.0-221116.docx