Recently it's come to our attention that some people are confused about company holidays, floating holidays, personal days, and vacation time, how they accrue, and how the vacation shows up on your paycheck or paystub. This document is an attempt to straighten it all out.
There are eight company holidays in any calendar year:
New Year's Day January 1st President's Day third Monday in February Memorial Day fourth Monday in May Independence Day July 4th Labor Day first Monday in September Thanksgiving fourth Thursday in November Day After Thanksgiving the Friday after that Christmas Day December 25th
If a date-specific holiday (1/1, 7/4, or 12/25) falls on a Saturday, it is observed the previous Friday. If a date-specific holiday falls on a Sunday, it is observed the following Monday. (Note that New Year's is an exception in that it must be observed in the correct calendar's year.)
If you have to work any holiday due to client commitments, you can bank that holiday and report it later as a company holiday. Just remember to comment about it in the Member Comment section of the timesheet so nobody in Accounting or Payroll gets confused.
You receive one (1) floating holiday every calendar year. You can use it at any time, provided you get appropriate permissions in advance from your manager and client manager (see the vacation request policy).
If you do not use your floating holiday in your calendar year, you lose it. You should only have one floating holiday reported in any calendar year.
You receive two (2) personal days every calendar year. You can use them at any time, provided you get appropriate permissions in advance from your manager and client manager (see the vacation request policy).
If you do not use your personal days in your calendar year, you lose them. You should only have two personal days reported in any calendar year.
You receive vacation on an anniversary year (not calendar year) basis. The amount depends on how long you've been with CT:
Accrue per anniversary year Weeks Days Hours 0-2 2 10 80 3-4 3 15 120 5+ 4 20 160
In addition, you can receive senior vacation days when you first join the company (they're in your offer letter from Human Resources). You receive one senior vacation day for each year over 5 you've worked in the industry; if you've worked 6 years you get 1 day. There is a maximum of 5 senior vacation days per member per year; there is a maximum of 4 weeks (20 days) of total vacation per year. This means that after being at CT for 5 or more years your senior vacation days no longer apply since you're already getting 4 weeks (20 days) of vacation.
Vacation accrues at so-many hours per pay period, as shown in the table below:
Weeks Days Hours Per Pay
2 10 80 3.33 11 88 3.67 12 96 4.00 13 104 4.33 14 112 4.67 3 15 120 5.00 16 128 5.33 17 136 5.67 18 144 6.00 19 152 6.33 4 20 160 6.67
Vacation actually accrues and resets on pay periods. If your your anniversary falls in the middle of the pay period, it doesn't actually reset on that day, but at the next pay period. Also, vacation is tracked approximately two weeks behind, so something you took on September 20th might not show up until your October 15th check. (Yes, ADP stinks at tracking in real time, in part because we only tell them things twice a month when we run payroll. They rely solely on what we tell them, so they don't actually track it themselves.)
-Stephenie Layne (Payroll) & Josh Simon