The latest release of evergreen HCM makes the HR function’s job easy, fast, and safe, with features for flexible work patterns, payroll export, changes in diversity declaration, and more.
Hybrid work has transformed the way we think about work. It is a big departure from the traditional work model. It isn’t a one-size-fits-all; it is flexible and supports a variety of different work schedules. It allows employees to choose how and where they work, giving them the autonomy to design their work week in a way that works both for them and with company policies.
Given the popularity of hybrid work, organizations require oversight, policies, and systems that adapt to this flexibility. The latest release of evergreen HCM steps in to address just that – to help businesses adapt to and manage changing working patterns.
For example, a full time equivalent (FTE) employee is contracted to work 30 hours over four days a week and another FTE is working 25 hours over three days. In spite of the differences in work hours/ days, both are FTEs and not part time equivalents. In most HR systems, this is a numeric editable field which has to be entered manually. evergreen HCM automates this process by calculating the FTE based on the work schedule rule and the actual working hours defined by the working pattern.
The FTE is calculated as:
Actual week work hours / Work schedule rule hours
Where: Actual week work hours = “Hours per week” calculated field in the “Working patterns” table
Work schedule rule hours = “Work schedule rule” in the “Payroll” table
With this feature, it becomes easier for organizations to adapt to flexible working patterns as the FTE calculation is now automated, and not dependent on manual entry. It also ensures fewer errors and gives the ability to accommodate and manage multiple FTE patterns that employees may opt for.
In future releases, evergreen HCM will provide the capability to automate compensation for part time equivalents.