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Overview

An accurate configuration of the statutory holidays is key for forecasting salary costs correctly. This function allows the ability to specify whether employees will be paid or not on a particular Statutory Holiday. Statutory holidays and associated Cost Items are used by payroll calculation and financial planning and forecasting. Depending on the conditions of employment, holidays may or may not be remunerated.

The set-up of the holidays is usually done when setting up a new fiscal year.

Note: The difference between an employee’s forecast with paid or non-paid holidays can represent on average 11 days of salary. When multiplied by the number of employees in the organization, the impact on the total salary forecast can be significant. The appropriate configuration of holidays is therefore crucial.

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Human Capital ► Budgeting and Forecasting ► Support Entities ► Statutory Holiday Catalogue

Statutory Holiday Catalogue screen Fields

Note: A statutory holiday cannot be deleted from the catalogue if it is referenced in a shift Schedule Definition, but the holiday dates can be removed, modified or added as long as they are in the active fiscal year.