LOA: Full Form, Definition, Types, Objectives

 What is the Full Form of LOA?

The full form of LOA is Leave of Absence.

What is the Definition of LOA?

LOA or Leave of Absence refers to a period where an employee is granted official sanction by a company to take leave while maintaining their employee status. There could be various reasons to take an LOA, like personal reasons, medical issues, etc. The employee is permitted to take time off and often retains benefits.

What are the different Types of LOA?

• Casual Leave
• Privilege Leave
• Maternity Leave
• Paternity Leave
• Compensatory Off
• Bereavement Leave
• Loss of Pay or LOP

What are the Objectives of LOA?

For Employees

1. Relaxation and Revitalisation

Employees are provided with adequate time to rest and come out of work-related stress that bogs them down daily. They can take some time off to relax and get rid of work fatigue.

2. Cater to Personal Matters

The formal leave allows employees to address their personal issues and family responsibilities, like life events, medical issues, family emergencies, vacation, personal growth, higher education, etc.

3. Preserve Job and Financial Security

Official leaves ensure that employees can take time off without the fear of losing a job or not getting paid. This provides a sense of peace and security, enabling them to work better.

For Employers

1. Compliance Adherence

By complying with statutory leave policies and regulations, employers can avoid legal consequences and penalties and enhance their reputation.

2. Accelerated Efficiency and Productivity

It is beneficial for employers, as individuals taking time out to rest and relax will return to work reinvigorated and with a positive approach, wanting to contribute more to the betterment of an organisation.

3. Attract and Retain Skilled Talent

An organisation with a well-crafted, robust leave policy structure and management system is always attractive to top talent, thereby diminishing employee turnover rates.

4. Positive Work Landscape

Organisations showcasing their commitment towards employee wellbeing will foster a culture of positivity and trust. There is an automatic improvement in the work environment and employer-employee relations, ensuring holistic harmony.