Category Archives: Sick Time Bank

Should I Set Up A Sick Time Bank At My New Company?

A sick time bank is set up to provide an employee that used up all their paid sick leaves with more days. An employee may be ill or have an injury that requires them to be out of the work for more time than their contract allows. This is where the sick leave bank comes in. An employee can request for more paid sick time from the bank. There are different regulations that govern sick leave banks in different states. Each state will have its rules when it comes to employees and sick time banks. A sick leave bank is advantageous in terms of emergencies like sudden illness. This may be personal or for a family member.

Setting up a bank

There are statutes that have been put in place to regulate sick time banks. These should be followed to the letter when setting up the bank. There are some basics, however that will be present in all regions. For one, there are a minimum number of members that are required to set up a bank. In most cases, that number would be 20. Each of these members is required to fill out an enrollment form. They are also required to donate some of their sick days to the bank. The application form will clearly state the minimum number of days that a member must contribute to the sick bank.

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When starting out at a new company, one may wonder if there is need to set up a sick leave bank. There are several things that one must look at before making this decision. The advantage of having a sick leave bank is that one can get those extra paid sick days when they need to. One cannot be sure what will happen in the future. You cannot be sure that a medical emergency won’t come up in the future and put you out of circulation for a while. It’s best to prepare yourself for it. Having a sick leave bank is a good way to do that.

Understand the implications

Having a sick leave bank is something an employee should consider carefully. First and foremost, they must understand what the whole thing entails. One must look at the regulations that have been put in place. The members’ provisions of the bank, it’s also been carefully considered. This would make a lot of difference. When you have considered all these, then one can make an informed decision. It wouldn’t help to enroll into a sick time bank without understanding what the implications are.

There are also very clear definitions of what constitutes emergencies. This is one thing that some people don’t pay close attention to. When applying for a sick leave, one must state for what purpose. It is important to know what the bank considers an emergency and you will qualify for the leave. Emergencies are not only for individuals, they may be family related too. This is also something else that a bank will clarify on. Not very member of the extended family will qualify for a family emergency. These are all things that one should take caution with when looking, to set up a sick time bank.