Time off in lieu (TOIL)
What is TOIL or time off in lieu?
Derived from French, TOIL or time off in lieu is the practice of compensating workers with paid leave instead of monetary payment for extra hours they work.
As an increasing numbers of Millennials, who highly value wellbeing and work-life balance join the workforce, more and more companies are starting to offer this benefit. In fact, nearly 90% of them value paid time off over a raise.
Besides being a cost-effective solution to overtime compensation, offering TOIL will brand you as an attractive employer to younger professionals. Learn more about how to best manage time off in lieu in this blog article.