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What is a Management Dashboard?
The term Management Dashboard defines a wide range of data reporting and visualization tools or dashboards that allow using various performance & efficiency measures to report on an enterprise’s ability to organize and coordinate its activities in accordance with certain policies and in achievement of pre-determined objectives. What is a Management Dashboard?
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Money Management Action Plan

In this Money Management Action Plan you can read a range of tips and suggestions that will help you manage your money in an effective manner.

Money Management Action Plan
Home » Glossary » What is Employee Overtime?
What is Employee Overtime?   

What is Employee Overtime?


 Employee Overtime is an amount of working time that non-exempt employees work beyond an established limit that is determined by regular job schedules. It shows how many hours an employee or worker has spent in excess of basic workday (typically 8 hours a day, 5 days a week).

 An employee who works overtime should be paid at extra cash compensation which is called overtime pay. The amount of overtime pay is defined by the employer and agreed with the employee. It is juristically stated by company rules, job contract, statute, or union agreement. Thus, overtime pay legally determines what bonus or compensation an hourly employee will get for the work done over the regular job schedule.

 Sometimes overtime pay can be replaced with paid time-off. It means an employer and a hourly employee agree on banking overtime hours for paid time-off, so the employee is given a rate of paid time-off for each hour worked beyond the regular job schedule. These relationships should be legally agreed between the parties and constituted by company rules and policies. The employer should provide all necessary accounting to ensure correct payroll processing and overtime pay calculation.

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