MightyRecruiterA paid leave bank is an employee benefit program that consolidates different types of leave into a single plan. Employers who choose to implement a paid leave bank in the workplace do not distinguish between vacation time, sick leaves or personal leaves. Instead, all time off benefits are combined into one multi-purpose bank of days. This allows employees to use a set number of paid days for both scheduled and unscheduled absences, but most programs do not provide coverage for holidays, jury duty or bereavement.
Related Terms
Legal Disclaimer
The content on our website is only meant to provide general information and is not legal advice. We make our best efforts to make sure the information is accurate, but we cannot guarantee it. Do not rely on the content as legal advice. For assistance with legal problems or for a legal inquiry please contact you attorney.