The overtime rate calculates the ratio between employee overtime with the regular hours in a specific time period. Even if the work is planned or scheduled, it can still be considered overtime if it exceeds what is considered the standard work week in that jurisdiction.
A high overtime rate is a good indicator of a temporary or permanent high workload. It could result in a higher illness Rate, higher labor costs, and lower productivity.
Read more about Overtime Rate: Calculation Formula
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“Writing a book I have found to be like building a house. A man forms a plan, and collects materials. He thinks he has enough to raise a large and stately edifice; but after he has arranged, compacted and polished, his work turns out to be a very small performance. The authour however like the builder, knows how much labour his work has cost him; and therefore estimates it at a higher rate than other people think it deserves,”
—James Boswell (1740–1795)