Establish a minimum wage. Protect employees from overwork. Workload fluctuations. Staff variations. Labor market considerations. There are three ways to fill this eight-hour gap in the weekly coverage: Hire part-time employees.
Finding and retaining good part-time employees is always challenging. Part-time positions tend to have higher turnover rates, so more management time will be spent keeping the positions filled. Many part-time employees have limited availability, making it more difficult to fit them into the schedule.
Employ an additional crew. This is an expensive solution, since the employer would hire an additional hour crew for only eight uncovered hours. While the employer can schedule the remaining 32 hours for other purposes, such as absence coverage relief , training or maintenance, if these other functions are not needed on a regular basis, hiring an additional crew is not the most efficient solution.
Use overtime. The most popular option is to schedule the four crews to work an average of 42 hours a week. Although this requires paying a small amount of overtime 5 percent to each employee, this is perceived to be easier and is typically less expensive than the other two options. Workload fluctuations In many industries, demand for products or services is not constant throughout the year; seasonal or periodic variations may occur. There are four common ways to adapt to these seasonal busy periods: Stockpile product during slow periods.
Stockpiling product works well for organizations whose products have sufficiently long shelf lives. Even then, however, having sufficient inventory available to meet every surge in demand is not always possible.
Stockpiling is not an option for companies that provide services rather than products. Hire temporary employees during the busy periods. Employing temporary help is a good solution if the busy staffing period requires additional low-skilled staff and does not require lengthy training. It is costly, though, to invest training resources in workers who are with the organization for only a short time.
Maintain enough full-time staff to cover the peak workload periods. Hiring full-time regular employees to have adequate staffing during the peak workload periods can result in overstaffing when the workload declines.
Unless excess employees are laid off during slower periods, an employer must pay all employees throughout the year. The cost of overstaffing adds up quickly, making this option the most expensive of the four. Requiring overtime hours from existing regular employees is a popular choice to manage peaks in work demand.
Overtime provides employers with immediate access to a pool of workers with the skills and training to do the job, and it is not as expensive as it first appears. Even though overtime involves paying a 50 percent premium, paying short-term overtime to fully trained employees is not much more expensive than the fully loaded cost of straight time for new employees. Employee benefits such as insurance and vacations are usually paid based on straight-time hours worked, which can increase the average wage by 30 percent to 40 percent or more.
There is also the cost of hiring and training new staff. For highly skilled workers, these benefits and training expenses can be substantial. Staff variations Even when the workload is constant, occasions may arise when not enough staff is available to do the work. Labor market considerations Many organizations offer overtime to attract and retain employees. Problems with Excessive Overtime Although overtime can help employers and may be valued by some employees, there are limits to the amount of overtime that is beneficial.
High overtime, especially when it continues for an extended time period, has several potential drawbacks: An overtime-dependent workforce.
Safety and quality issues. Lower productivity. Overtime dependency When overtime levels are constantly high, employees may become dependent on that additional income as a source of their regular pay. Safety and quality Research on the relationship between long hours of work and employee safety and quality is inconclusive.
Absenteeism Reduced sleep from prolonged high overtime levels will eventually adversely affect employee health and work attendance.
Productivity A number of studies have attempted to define the relationship between hours of work and productivity. Corrective Measures To avoid problems that can occur when high levels of overtime continue for extended periods, employers should regularly monitor overtime and absences. Use of overtime It is important to keep track of both overall averages and individual overtime hours.
Absences As with overtime, it is best to track both overall averages and individual absences. Workload Does the organization's workload fluctuate from week to week?
Policies and procedures HR professionals may want to periodically review the organization's overtime distribution policies and procedures for fairness and to protect against problems such as excessive overtime for individual workers.
The following areas should be examined: Mandatory overtime. How much of the overtime is voluntary versus mandatory? A high proportion of forced overtime means employees cannot plan their lives away from work, which can lead to poor morale. How much lead time is given when notifying workers about mandatory overtime? So even if you work Wednesday to Sunday as opposed to the typical Monday to Friday , regulations surrounding overtime apply.
And what are those regulations? Exemptions, according to this document, include:. These professionals may be expected to work overtime without any special wages. Still, many in these exempted positions feel working overtime is worth it — and it certainly can be. This belief is rooted in a fundamental misunderstanding of how North American tax rates work. Here are the federal tax brackets for single Americans, according to SmartAsset:. Check out this fantastic article from my friend Jesse Cramer over at The Best Interest to learn more about how progressive tax brackets work.
Many employers in industries exempt from overtime pay stipulations pay for results. Consequently, many workers in these professions simply work however many hours it takes for them to produce results. In this scenario, I know a payoff will arrive the next time profits are distributed.
This is far from ideal, though. When the time came to leave your current employer, you might be able to leverage that other part-time work into a full-time arrangement. If you have higher priorities than earning more money right now, working overtime might not be a wise financial decision. This has been my experience over the past two years. You may need to go to night school and get some further training to open up other opportunities.
You may need to chase down hundreds of employment ads and send out stacks of resumes. You may wish to start your own business. You may wish to start an emergency fund to survive between quitting your present job and starting a new one.
Whatever you do, remember that your job overload is your responsibility and your problem. If your job is driving you crazy, you need to do something about it. Own the problem. Stop being a victim of an abusive situation and start setting some limits. Used by permission of Zondervan. Ramsey Solutions has been committed to helping people regain control of their money, build wealth, grow their leadership skills, and enhance their lives through personal development since Working too much can take a significant toll on your body.
Your body can become burned out, and you will begin to feel exhausted and wiped out. Working too much can lead to an increased chance of getting sick and people who work over 40 hours a week are six times more likely to suffer burnout than those working a hour week.
ABC News did a study, and it was found that overworking can lead to an increased risk of problems with your heart. Extended working hours can result in disturbed sleeping patterns which can become a chronic problem if allowed to continue for very long. Building up an irregular sleeping pattern can result in constant tiredness which will reduce your efficiency and productivity.
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