Overview of the different types of premiums
Emprez gives you the possibility of setting 4 types of premiums:
- Hourly premium
- Premium for the position
- Premiums for work shifts
- Cumulative premium
- Overtime cumulative premium
- Fix cumulative premium
- Cumulative premium "stat. holiday"
The premiums created for the employee are reflected in the compensation tab of the employee file or in the positions section.
Let's see together the definition of each of them.
Default premium
When you create an hourly premium or a cumulative premium, you are offered that it be assigned by default to the employee file without you having to select it when creating an employee file.
Please note that the employee files created before the creation of your new default bonus will not be updated automatically, you will have to do it yourself manually, one by one or in batch.
Tip:
Do not hesitate to create your premiums before creating your employee's files. As a result, you will be able to define default premiums when creating your employees' files. You can also add premiums manually to your employees, but this method will take longer.
Hourly premium
The hourly premium is compensatory compensation that the employee will receive if the latter works in a particular position AND in a time interval that you will specify. It is specific to the position, hours, and days the employee works. It can be established as a percentage of the salary received %, or as an amount $.
This premium can be set by default.
To find out more, click here.
Example:
The employee's shift is from 6:00 pm to 1:00 am. You can apply a night premium for all hours worked from 8 pm for example.
Premium for the position
The premium for the position is the variation of the employee's salary when the latter occupies a specific position. In fact, an employee can work at different hourly rates, depending on the position occupied.
To find out more, click here.
To find out more, click here.
Example:
The employee's default position is "secretary", and his salary on file is $20/h. When this employee works as an "accountant", Emprez will calculate a premium of $3 for each hour worked in this position.
Premium for work shifts
The shift premium is a premium that is associated with a particular shift. It can be applied to the total duration of the shift, or to a portion only. It can be established as a percentage of the salary received %, or as an amount $.
To find out more, click here.
To find out more, click here.
Example:
The employee is responsible for opening the store and this involves additional tasks, he may receive $2 more for the first two hours of his shift.
Cumulative premium
The cumulative premium is specific to the number of hours and the type of employee timesheet. A cumulative premium is based on a cumulative. When an employee works more than 'X' hours in a 'Y' period, the hours exceeding 'X' will be taken into account
An overtime premium is a good example. This premium can be calculated daily, weekly, or monthly.
This premium can be set by default.
There are three types of cumulative premiums:
Overtime cumulative premium
This premium applies for each hour that exceeds the defined period. This is usually an amount in $.
To find out more, click here.Example:Each additional hour after 8 hours of daily work will be added an additional cumulative premium of 3$. If the worker works 2 hours more he will have an additional 6$ in premiums to the hourly rate at which he is normally paid.Fix cumulative premium
This premium is a fixed amount of money that is added to the employee's total pay if the conditions are met. It can be programmed to be paid after a certain number of hours. It will apply once according to the defined period. This is usually an amount in $.
To find out more, click here.Example:A flat-rate premium of 3$ is granted to employees when they work more than 8 hours a day. An employee works 10 hours, as this premium is fixed he will receive 3$. If this employee had worked 9 hours, he would also have received 3$.Cumulative premium - Stat. Holiday
This premium applies when an employee is scheduled on a stat. holiday. Using this type of bonus if you put a holiday on the employee's schedule on a day when he already has a shift, the service will calculate the employee's time according to the premium granted.
To find out more, click here.Example:If an employee works on a stat. holiday, he must be paid on time and a half. If for a typical day the employee earns $18/h and work 8h, he will receive $144. If this worker works on a paid holiday on time and a half with this premium he will be paid $216. (144/2 =72, if the employee is paid on time and a half => 144+72 = 216)
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