Effective from May 2022
Approved by: Chief Executive Officer
Five Good Friends supports our people to maintain balance within their lives. This policy provides the opportunity to purchase an additional one week of annual leave per year.
This policy applies to all Five Good Friends and The Lookout Way employees.
Five Good Friends and The Lookout Way employees may adjust their salary package to allow for the purchase of one week of additional annual leave per year above the standard four-week entitlement (pro-rata for part-time employees). This is provided on a salary averaging basis where the purchased leave is paid off over the financial year.
Any employee can purchase up to one (1) extra week of annual leave per year.
The number of days this ‘week’ will comprise depends on how many days per week you work, as per your employment contract. For example, if you work part-time three days per week, you will be entitled to purchase an additional three days of annual leave.
You will not be able to purchase additional leave if you have an untaken leave entitlement exceeding a years accrual for your length of service and employment status, this is detailed in the below table, for a full-time employee:
| Years of service | Untaken leave entitlement |
|---|---|
| 0 years - < 2 years | 4 weeks |
| 2 years - < 3 years | 4 weeks and 1 day |
| 3 years - < 4 years | 4 weeks and 2 days |
| 4 years - < 5 years | 4 weeks and 3 days |
| 5 years - < 6 years | 4 weeks and 4 days |
| 6+ years | 5 weeks |
You will not, through the use of purchased leave, be allowed to accumulate more than five weeks of leave without taking at least one week of leave in the year of accrual.
To be eligible to participate in the purchased leave scheme you must have passed your probation period and have submitted the Purchased Leave Application Form to the Payroll Team prior to June 30. The Payroll Team will confirm or deny your application prior to the July pay cycle. Once your application has been approved you will be credited the hours of leave from July 1. Over the period of that financial year, you will contribute the relevant percentage of your annual salary.