Bank - Page 27

In human resources (HR), the term "bank" commonly refers to a system or mechanism used for recording, storing, and managing various types of leave or time-off balances for employees. This can include leave banks for vacation days, sick leave, personal days, or other types of accrued time off that employees earn as part of their employment benefits.A leave bank typically allows employees to track their available days off, as well as how much they have taken and how much remains. In some organizations, employees may also have the option to donate unused leave to a common bank that can be accessed by others who are in need.The concept of a leave bank helps ensure transparency in leave management and supports employees in taking the necessary time off for personal well-being, health, or family matters. It also assists HR in maintaining compliance with labor laws and company policies regarding employee leave entitlements.