The word holiday comes from the Old English word haligdaeg and originally referred to religious celebrations. Today, holiday refers to any day or period set aside for celebration, a term that has expanded across the globe. In the United Kingdom, Australia, and New Zealand, the term usually refers to a day off, but holidays are also observed in sovereign nations based on historical events. However, the exact definition of a holiday is disputed.
Holiday pay is a compensation an employee receives for working or not working on a holiday
Aside from providing paid time off, holiday pay is a way for employers to reward employees for the time they put in, rather than merely punishing them for taking time off. Generally, employees are compensated for working on a holiday at a time-and-a-half (1-1/2) rate, meaning that they are paid for the normal workday, not for the additional hours they work.
The law requires employers to give holiday pay to hourly and part-time employees. Employees must also be in a pay status to qualify for this compensation. For hourly employees, the amount of holiday pay varies by position, but most employees will receive a holiday premium pay of at least 7.5 hours for a half-day or full-day of work.
It can boost employee morale and loyalty
Holidays can be a great way to motivate your employees. Holiday gifts and company-wide potlucks can add a festive spirit to your office. Quizzes and popular Christmas games can bring out the child in everyone. Even a few games of Santa Claus can boost employee morale and loyalty. But, there’s more to holiday cheer than just gifts. Here are three tips to boost employee morale and loyalty.
Boosting employee morale and loyalty is not just about giving a raise. It can also boost employee productivity. Research shows that employees who work from home have higher productivity. This productivity comes with a price. Boosting employee morale and loyalty can prevent burnout, and ensure the best talent remains loyal to your business. To do this, plan a team-wide celebration with prizes and social activities. Encourage employees to share the holiday cheer and take part in a company competition. Don’t make the prize too extravagant – employees are more likely to win something if they’re given a chance to win it.
It can be complicated to calculate
One of the most basic calculations involves determining the number of working days in a project. However, holidays are sometimes complicated to calculate. For example, if the new year falls on a Saturday, it is a good idea to observe the new year on December 31, the previous year’s day of observance. Holidays are important because they affect many calculations, such as calculating the total number of working days in a project. If your project is long enough, you can use the NETWORKDAYS function to calculate the number of working days, excluding holidays, and ignoring weekends. If you have a lot of holidays, you may have to manually enter each day.