The formula to calculate the Length of Service (LOS) is:
\[ \text{LOS} = E - S \]
Where:
Length of Service (LOS) refers to the total duration of time that an employee has been employed by a specific company or organization. It is often used to determine eligibility for certain benefits, calculate pension or retirement plans, and sometimes to determine the amount of vacation or sick leave an employee can accrue. It can also be a factor in decisions about promotions or layoffs, with longer-serving employees often having more job security.
Let's assume the following values:
Using the formula to calculate the Length of Service:
\[ \text{LOS} = 2024-08-08 - 2015-01-01 \]
The Length of Service is 9 years, 7 months, and 7 days.