Is there a way to be exempted from Employment Act requirements for overtime, rest day and public holiday pay?
My company is facing financial problems and I want to cut down on costs. I want to do whatever it is I can to avoid retrenching my employees but at the same time optimize my manpower and resources. Is there a way our company can be exempted from Employment Act requirements for overtime, rest day and public holiday pay? I see this as an option to cut down costs and think of a way to keep my employees schedule flexible to avoid conflict.
There is a way to do this but only for 2 years. As an employer, you can apply for flexible work schedule. This will help you minimize retrenchment and optimize your resources during a downfall while your employees are assured of a stable monthly income and greater job security, although they may face some loss of overtime pay.