💡 Policy Purpose
Our company recognizes the importance of fair compensation for all hours worked, including overtime. This policy outlines the procedures and guidelines for managing and compensating overtime work, ensuring compliance with relevant laws and maintaining a healthy work-life balance for all employees.
📝 Policy Elements
Scope:
- This policy applies to all employees classified as non-exempt under the Fair Labor Standards Act (FLSA) or other relevant legislation.
- This policy applies to all employees classified as non-exempt under the Fair Labor Standards Act (FLSA) or other relevant legislation.
Definition of Overtime:
- Overtime refers to any time worked beyond the standard working hours as defined in employment contracts or company agreements.
- Overtime refers to any time worked beyond the standard working hours as defined in employment contracts or company agreements.
Eligibility:
- Non-exempt employees who work more than the standard 40 hours per week (or the legally defined threshold) are eligible for overtime pay.
- Non-exempt employees who work more than the standard 40 hours per week (or the legally defined threshold) are eligible for overtime pay.
Authorization:
- All overtime work must be approved in advance by the employee’s direct supervisor or manager.
- All overtime work must be approved in advance by the employee’s direct supervisor or manager.
Compensation:
- Overtime is compensated at one and a half times the employee’s regular hourly rate, in accordance with legal requirements.
- Overtime is compensated at one and a half times the employee’s regular hourly rate, in accordance with legal requirements.
Recording and Payment:
- Employees must accurately record their working hours, including overtime, using the company’s timekeeping system. Overtime payments will be processed in the next payroll cycle.
- Employees must accurately record their working hours, including overtime, using the company’s timekeeping system. Overtime payments will be processed in the next payroll cycle.
Avoiding Excessive Overtime:
- While overtime may occasionally be necessary, the company discourages excessive overtime. Managers should monitor and manage workloads to minimize the need for overtime.
🤝 Acknowledgement and Compliance
All employees must comply with this policy, and any violations will be addressed according to the company’s disciplinary procedures.
