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Almost all businesses have employees who work additional hours – check out this infographic to discover the impact these extra working hours can have on your workforce.
Almost all businesses have employees who work additional hours. How these hours are recorded often depends on the organisations polices. Flexi time, overtime, time off in lieu and additional hours all have there advantages and disadvantages. The below infographic details each option and the positive and negative affects these extra working hours can have on your workforce.
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Annual or annualised hour systems have significantly grown in popularity over the years, with many businesses now implementing them as a way to improve employee productivity and reduce the number of people being paid overtime.
Using annual or annualised hour systems within a businesses – is not a new concept. The use of them within organisations dates back to the early 1980’s. However over the past few years there has been a significant increase in the number of manufacturing companies now providing these as part of their employee’s benefits package.
An annualised hour system is where an employee is provided with a contract that states the exact number of hours they are required to work in a twelve month period. These hours are then often worked as “chosen” regular hours or via a plannable shift pattern.
A separate “pot” of hours is then budgeted for which is for emergency use and which attracts an overtime payment. The remaining time is often left unallocated and is available to be used on an as-needs-basis.
Many manufacturing companies are now introducing an annual hour system as an efficient way to achieve continuous production from all employees throughout the year. Annualised hours can also significantly reduce the amount of overtime hours being paid. Hours can be decided on an individual employee basis – at the beginning of the year and overtime hours will only ever take affect when the number of hours worked exceeds the set number.
Having an annualised system also gives your managers greater control of their employees working patterns, providing them with potential ways in which they can maximise productivity and minimise overtime within their workforce.
It enables a business to effectively and efficiently iron out any peaks and troughs in manufacturing demand, and benefits Employees by providing them with a consistent wage – usually 1/12th salary.
Using ELF Productivity’s Time & Attendance module, the administration of an annualised hour solution is streamlined and provides reporting at any point during the year, ensuring employees are rostered evenly, thus mitigating overtime while ensuring production levels are maintained.
For more information on how annualised hours could benefit your business contact us today!