Long service leave in the context of "Annual leave"

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⭐ Core Definition: Long service leave

In Australia, long service leave (LSL) is a period of additional paid leave granted to employees who have completed an extended period of service with an employer. Under Australian law, most employees are entitled to long service leave if they work for the same employer for a prolonged length of time, the threshold usually being between seven and ten years. Long service leave is separate from annual leave; employees receiving long service leave continue to accrue annual leave as normal and, at a minimum, as prescribed by the National Employment Standards.

Currently there is no uniform national long service leave standard in Australia; the rules governing long service leave entitlements vary depending on the relevant jurisdiction or industrial instrument (e.g., award or enterprise agreement). The qualifying period of service ranges from seven to fifteen years, although, as noted, in most instances it is no higher than ten years. The initial period of leave granted to eligible employees varies between around six and thirteen weeks. Long service leave legislation in many of the states and territories goes on to provide further long service leave entitlements should the employee continue to work with the employer.

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Long service leave in the context of Employee benefits

Employee benefits and benefits in kind (especially in British English), also called fringe benefits, perquisites, or perks, include various types of non-wage compensation provided to an employee by an employer in addition to their normal wage or salary. Instances where an employee exchanges (cash) wages for some other form of benefit is generally referred to as a "salary packaging" or "salary exchange" arrangement. In most countries, most kinds of employee benefits are taxable to at least some degree. Examples of these benefits include: housing (employer-provided or employer-paid) furnished or not, with or without free utilities; group insurance (health, dental, life, etc.); disability income protection; retirement benefits; daycare; tuition reimbursement; sick leave; vacation (paid and unpaid); social security; profit sharing; employer student loan contributions; conveyancing; long service leave; domestic help (servants); and other specialized benefits.

The purpose of employee benefits is to increase the economic security of staff members, and in doing so, improve worker retention across the organization. As such, it is one component of reward management. Colloquially, "perks" are those benefits of a more discretionary nature. Often, perks are given to employees who are doing notably well or have seniority. Common perks are take-home vehicles, hotel stays, free refreshments, leisure activities on work time (golf, etc.), stationery, allowances for lunch, and—when multiple choices exist—first choice of such things as job assignments and vacation scheduling. They may also be given first chance at job promotions when vacancies exist.

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