What is the term for additional wages paid for extra working hours?

The term "Overtime Labour Costs" refers specifically to the additional wages that an employee earns for hours worked beyond their standard working hours. This concept is significant in occupational health and safety, as it influences workforce management and budget considerations for employers. When employees work overtime, businesses often incur higher costs due to the legal requirements or company policies mandating that employees receive a premium rate for those extra hours.

Understanding overtime labour costs is crucial for organizations when planning shifts, allocating budgets for labor, and ensuring compliance with employment laws. This term encompasses the financial implications of extra hours worked and is widely used in workplace discussions about labor costs and employee compensation.