An overtime sheet is a record document used by companies to track workers weekly or monthly work timelines beyond the regular work schedule. It is normal for companies and businesses to have their workers work past the agreed hours in order to accomplish set work targets and goals. Mostly, overtime paid extra to double of regular working hours. To calculate the overtime of each employee, overtime work sheets are used. These sheets contain the record of each employees’ extra working hours and calculate the weigh on set rate. We have published free printable overtime sheets in word or excel format which will save you a great amount of time to prepare overtime sheets.
The overtime sheets will serve in the following capacity;
- Fair compensation – An overtime sheet is used to protect both the company and the employee in regards to compensation. Whereas the employee requires a correct and reliable pay for overtime hours worked, the company also needs to make certain the correct billing of labor cost charged to its operating expenses was based on actual overtime hours worked by the employee.
- Job and worker protection – An overtime sheet is used to protect sensitive work concerns regarding the use of company’s resources by the worker in order to minimize abuse and misuse as well as to protect the worker’s rights so as to ensure their productivity, health and safety in order to a have efficient and happy workers.
Pros of Using an Overtime Sheet
- Improved efficiency – An overtime sheet is a well-organized record keeper which allows the employees to clearly track their payments as well as the company to make proper and accurate billings.
- Track employee behavior – it allows the company to identify which departments are having the employee stay in the office for longer, and therefore might need help managing resources.
- Human error – basically an overtime sheet relies on some form of human interaction, consequently, there is likely to be a high probability of human error at some stage in the long run.
Overtime Sheet Template Sample
Overtime Sheet Template for Staff Example
Editable Overtime Sheet Template Format
Overtime Sheet Template Free Download
Overtime Sheet Template PDF
Companies should consider implementing overtime sheets for their business. As long as they are aware of the potential drawbacks, they can always find a way of making sure they don’t become an issue.
I will be providing these sheets in a word document or PDF format for free. It is crystal clear on the progress the free printable overtime sheets will prove helpful on your day to day work.