overtime

(redirected from Compensation Time)
Also found in: Dictionary, Thesaurus, Encyclopedia, Wikipedia.

Overtime

Work by a wage earner in excess of a statutory number or hours. For example, any time that a waged employee works over 40 hours in a week is usually considered overtime. Working overtime may entitle an employee to extra compensation, such as one and a half times his/her ordinary wage, which is often called time-and-a-half.

overtime

extra hours of work undertaken by an employee that are additional to the number of hours specified as constituting the ‘basic’ working week, and for which employees are paid a WAGE RATE higher than the ‘basic’ wage. Firms often resort to overtime working to meet sudden increases in orders, viewing overtime by the existing workforce as a more flexible and cheaper alternative to taking on extra workers. An overtime ban by employees can thus be a highly effective form of INDUSTRIAL ACTION.

overtime

the hours of work that are additional to those formally agreed with the labour force as constituting the basic working week. Employers resort to overtime working to meet sudden increases in business activity, viewing overtime by the existing labour force as a more flexible alternative to taking on extra workers. Overtime pay rates can be two to three times basic hourly rate. See PAY.
References in periodicals archive ?
The values of the compensation parameters are also interesting: the compensation time - [[Tau].
Compensation time has been eliminated from the time accounting policy, which is slated to take effect Aug.
The board also eliminated compensation time for hourly employees and offered a $2,000 stipend to employees who give up their town-sponsored health insurance.
The pact provides ATU employees a yearly base pay increase of 1-1/2 percent, quarterly wage adjustments of six cents an hour, the option of compensation time in lieu of overtime, and the establishment of a 401 K savings plan.
Thidemann would be required to consult with selectmen on compensation time worked.
Dowd, or any town employee called to service, would not lose seniority or accrued vacation leave, sick leave, personal leave, compensation time or earned overtime.