What is Banked Overtime?
Banked Overtime allows employees to accumulate overtime hours and store them for future use rather than receiving immediate payment. This feature is particularly useful for organizations aiming to provide employees with more control over their work-life balance by letting them convert excess overtime into time off.
A) How to Set Up Banked Overtime:
1) Create a New Time Off Type Policy:
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This means that for each hour of overtime worked, employees will accumulate double the amount of time in their overtime bank.
B) Using Banked Overtime:
Once Banked Overtime is set up, employees can easily manage their overtime hours:
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