We have an obligation to compensate overtime pay in a timely manner at correct rates of pay. Employees and managers should follow our timeline systems so that we can keep accurate records. If employees work on a team-based system, we won`t: companies that work outside of a standard work week benefit from a funding agreement. A funding agreement avoids costly overtime pay, while providing employees with greater flexibility and a better work-life balance. The demand for greater flexibility can be triggered by changes in an employee`s personal circumstances that require more work time in a day, which, under a “normal” employment contract, can trigger the payment of overtime pay. Our company overtime guideline explains how we compensate employees for hours that go beyond their standard hours. We want that, in order to meet the requirements for record-keeping and overtime compensation, we need a smooth procedure. Overtime should be identified on time. This is our proposed procedure: overtime may be required to deal with emergencies, heavy workloads or other problems. However, frequent and excessive overtime is not good for the health and performance of employees. The law may or may not allow excessive overtime, but we want to avoid losses in productivity and morality or accidents at work due to fatigue.

The average value agreement covers important elements such as the duration of the agreement and the start and end date of the work plan. The order of business clearly indicates the number of hours worked on a day and the day of the week. It is cheaper than paying standard overtime rates. Where applicable, an average agreement reduces overtime costs by confirming that an employee has confirmed that he or she has read, understood and agreed to abandon overtime paid or transferred on average his or her hours during a period when overtime is not calculated on hours normally subject to overtime rules. The law may exempt certain workers from overtime pay. These employees receive overtime at the discretion of our company. All of the company`s excessive overtime provisions also apply to exempt employees. We want to avoid any incident of abuse of the overtime system, either by our company or by employees, which can give rise to legal disputes.

We expect that this overtime policy will not be against the law. We will comply with the relevant laws if we award or compensate overtime. In our corporate overtime policy, “standard working hours” are an employee`s regularly scheduled working time. They are usually defined in employment contracts and follow legal guidelines regarding minimum limits or ceilings. “Overtime” that is compensated refers to any time worked in addition to those hours. This directive applies to all our currently authorised employees. Once adapted for your business, the overtime Averaging Agreement must be used: there is a strict labor law that governs the implementation of insurance agreements. If you make any major changes to the agreement, it is highly recommended that you request a legal review before being implemented. Staff should read this guideline and ask any questions to our human resources department . . .

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