overtime

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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 ?
H6: There will be a negative association between compensation time horizon and strategic risk, all else equal.
Compensation time has been eliminated from the time accounting policy, which is slated to take effect Aug.
Also at last night's selectmen's meeting, a new compensation time and flexible schedule policy for town employees was approved.
When an American court ordered $5 billion compensation for the victims, a Higher Court of Appeals overturned the ruling, because the compensation should have been only four times higher than the losses ($287 million in compensation times four equals $1.
The plan must provide an accrued benefit of at least 1 percent of the employee's final average compensation times years of service up to a minimum of 20 percent.
In our article Kroes intends to enforce competition rules' (3612), the last paragraph in the box entitled An imperfect safety net' should correctly read as follows: "Among the corrections proposed by the Commission (to be put in place through self-regulation), improvement of complementary cover or topping up' agreements: it is a question of an agreement in virtue of which a banking branch [not a subsidiary, as erroneously stated] joins the deposit guarantee system of the host member state; or the shortening of compensation times for depositors after the bankruptcy of a bank and better exchanges of information between systems.
The tax-deferred annuity plan limit (section 403[b]) is capped at $9,500, reduced from 20% of compensation times years of service minus contributions to date with no caps.
A second company's SERP can provide a pension that equals the average of the highest five annual supplemental bonuses, while a third can pay a percent of compensation times years of service.
Maximum weekly compensation for disability and death was changed ftom a statutory amount of $140 to 66 2/3 percent of the State average weekly wage, Total maximum compensation now equals 450 weeks of compensation times 66 2/3 percent of the State average weekly wage.