Reference year: Fixed or Individual

FIXED: All employee have the same reference year — Typically the calendar year or fiscal year

INDIVIDUAL: Each employee has their own reference year — Typically their hire date

More information see Time banks: annual roll-over

Which system you use may vary from one bank to another.

• They reference year type is specified on the first page of the attendance plan.

Vacation years norms typically differ from one province to another. (E.g. Quebec has fixed years; BC has individual years.)

Fixed year

• PRO: All employees are rolled over to the new year at the same time.
• CON: An employee is typically hired mid-year, and you may want to give him some vacation right away.
• CON: Years of seniority can change mid-year.

Individual year

• PRO: Years of seniority changes only at the start of a new bank year (usually).
• CON: Every pay period you need to rolling over a fraction of the employees to a new year
• CON: When employee is rehired or becomes permanent, his year might change, leave him a partial year