What is the overtime rate?
Rate overtime is a term that can be used to describe two different calculations. In the first instance, the overtime rate is the amount of additional payment, which the worker owes for work for more hours than legally specified for a certain period of time. Overtime also describes how many overtime employees state, compared to how many hours the employer planned to complete the work.
overtime rate in terms of reward is a somewhat confusing problem. Most regions have laws specifying how many hours are in normal working week; For example, in some places, 40 hours are considered a normal working week in a seven -day period. In many areas, if a person works more than 40 hours a week, it is considered overtime and must be legally paid for a premium wage. Premium is generally 1.5 to double higher than a normal hourly wage for a worker.
So if the worker gets paid 1 $ 0 AmericaThe dollars (USD) per hour and work 45 hours a week, five of these hours would be charged at an overtime rate of $ 15-20 USD, depending on the legally ordered overtime rate. If the rate of 1.5 normal overtime payments were, the worker would earn $ 400 for the first 40 hours and $ 75 for overtime for a total of $ 475 for this week. If the worker was paid for his normal rate all the time, the total part would be $ 450.
Further use of this term concerns how business measures the performance and potential need for expansion or contraction of the workforce. Calculation of overtime in this situation becomes the ratio of actually processed hours compared to hours assigned to work. In some cases, it may be a necessary cargo for overtime paying the worker 1.5 to twice its normal overtime rate; For example, to deal with an unusually large work or complete an important project before the specified date. However, for a long time, it may begin to take consistent overtime over the financial ZDBad business.
by measuring the ratio of the ratio, employers can get an idea of the reality of hours compared to what is expected will be enough time. If a small office has two full -time staff who both end up at work every week at work, the company pays 40 hours higher overtime salary every week. In this situation, an intelligent company can be hired by a third full -time employee, as paying another 40 hours at a current rate to the third worker will cost less than 40 hours of overtime to the original workers.
Thehigh -overtime ratio may be negative for several other reasons except for additional costs. Continuous exceeding employees of requests or requesting overtime can lead to a serious decrease in morality, even if higher wages for extra work are provided. Workers can be exhausted and emotionally emphasized, leading to a higher degree of illness or potential of injury and critical errors. Keeping an overtime ratio can help secureIT accuracy, morale and safety of workers.