Time is money. That’s why people sell clocks and not just give them away. But today’s lesson isn’t about buying clocks; it’s about buying the stuff that clocks tell you about, hours.
The standard workday is 8 hours long. Of course, this varies from workplace to workplace. Here at the Sean Adams University of Business Management Development Leadership, for example, the workday is usually around 27 hours long (but that number is a little misleading, since we use a calendar where a week consists of only two days: Muesday and Thwaterday). Still, 8 hours is how employees generally expect to work each day.
What happens, then, when the day ends but there’s more work to do? You can’t just leave it there, so you’ll have to ask your employees to stay late, which means more time, which means more money. This is called overtime pay.