Banking Hours System

Have you considered implementing a banked hours system for your core staff through the winter season?

It’s hard to live on an hourly wage during the snow season. Your pay is dependent on the weather, which is unpredictable. Moving away from a weather dependent pay scale removes the stress about money and allows you to keep your good employees.

Here's an example of how the banked hours system would work: 

• For the winter season, you’ve decided to guarantee your staff a minimum of 35 hours per week. 
• If the employee works 30 hours in a week, they will get paid for 35. The extra 5 hours (that they've been paid for but didn't work) is banked. 
• If in the next week they work 45 hours, they will get paid for 40 hours, because the 5 banked hours will be deducted from their paycheque. 
• If in the following week, they work 45 hours, they will get paid for 45 hours because there are no banked hours. 
• They will always get paid for a minimum of 35 hours, even if they don't work 35 hour in a particular week. The extra hours are banked and then deducted from the weeks where they work more than 35 hours.  

Here's an example of an employee's hours:

• Week 1 - employee works 20 hours
• Week 2 - employee works 30 hours
• Week 3 - employee works 45 hours
• Week 4 - employee works 40 hours
• Week 5 - employee works 50 hours
• Week 6 - employee works 40 hours

They would be paid as follows:

• Week 1 - paid for 35 hours (15 hours banked)
• Week 2 - paid for 35 hours (5 hours banked, total of 20 hours banked)
• Week 3 - paid for 35 hours (10 hours deducted from banked total, 10 banked hours remain)
• Week 4 - paid for 35 hours (5 hours deducted, 5 hours remain banked)
• Week 5 - paid for 45 hours (remaining 5 hours deducted. Bank is empty.)
  Week 6 - paid for 40 hours (no banked hours to deduct)

If you need further clarification, feel free to contact me at [email protected]