What is the full form of TOIL?
The full form of TOIL is Time Off in Lieu.
What is the Definition of TOIL?
TOIL, or Time Off in Lieu, is referred to as a system that enables employees to take paid time off from work. It is when an employee works pre-approved overtime and receives compensatory time off for the same amount. It acts as a good alternative to compensation for overtime.
This can be a good way where employees can take some time out for rest or recovery without utilising their standard annual leave. For employers, it is advantageous as they can manage payroll expenses by not paying overtime compensations.
What are the Benefits of TOIL?
1. Cost Effectiveness
TOIL is a method that helps organisations to pay compensation to employees for working extra hours, which can be more cost-effective than paying extra money or paying for overtime, especially when rates are high.
2. Employee Welfare
TOIL also helps in diminishing the chances of burnout in employees as they get an opportunity to rest and recuperate from working lengthy hours without worrying about financial matters. This creates a healthy and happy work environment where employees feel content and positive.
3. Enhanced Flexibility
Employees can take time off as per their convenience, making the system flexible and more feasible than financial compensation. This is useful for individuals who give priority to work-life balance.
4. Accelerated Manpower Planning
The approach helps businesses in maintaining productivity consistently throughout the year, as they can smartly schedule TOIL for employees or encourage them to take it during slow business periods when the workload is light. The employers do not have to compromise on risking output and outcomes during peak business season.
5. Retention and Employee Satisfaction
Offering TOIL to employees boosts their morale, and they enjoy working in the organisation, contributing more towards its success. The approach makes employees feel appreciated, increasing their chances of staying long-term in an organisation.
« Back to Glossary Index