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Policy to reimburse extra hours worked

We are a digital engagement solution company with 80 people. The nature of work requires IT resources to come on off days (Saturday, Sunday etc.) and also work late night to ensure timely project deliveries. We are looking to formalise an HR policy to compensate the extra work. Looking forward to suggestions in context with similar size IT organisations.

Specifically, we would like to know:

1. What are the various options to compensate the resources – compensatory off, extra time payments etc.

2. If extra time payment……what is the fair reimbursement amount

3. Things need to keep in mind to ensure proper governance of such policy

Would appreciate quick feedback from the community.

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