Overtime Compensation

Overtime compensation refers to the additional pay employees receive for working beyond their standard hours, typically over 40 hours in a week. In many places, this pay is usually at least one and a half times (1.5x) the employee's regular hourly wage. Overtime laws vary by country and industry, ensuring that workers are fairly compensated for extra hours. This system is designed to prevent overwork and to reward employees for their extra effort and time. It encourages companies to manage workloads effectively and respects the balance between work and personal life.