Banked HoursBanked Hours are a great scheme that allows an employer to call in staff when needed. Banked Hours or Reserved Hours are prepaid for hours allocated to a Bank at the start of the year. In most cases the employee will know well in advance if they are to be called in and could swap shifts if this is inconvenient. In this way the employee can create a shift pattern which suits their lifestyle and provides the company with the cover they want.The main advantage of a Banked Hours system is that if set up correctly there is a reward system built in. After all, the shift workers are providing the flexibility the company wants, so in most cases the company would reward its employees by zeroing any unused banked hours at the end of the year. Therefore the shift workers get paid for hours they never worked.Bank Hours are a flexible working arrangements to make the operation more efficient and cost effective. A flexible working arrangement means that you don’t have to schedule additional workers on to every shift to cover for absences.The staff contract with the company to supply a certain number of working hours per year. These are referred to as Contracted Working Hours. Most of their Contracted Working Hours will be used in the shift pattern to cover for the workload. However the workload will seldom require an exact number of people so some hours will be outstanding. A company can then also sets up The Bank, which contains the outstanding hours; these are prepaid for hours and owed to the company. Typically 5-10% of Contracted Working Hours are allocated to The Bank. The hours in The Bank are specifically allocated to a person and every person can have a different number of hours in the Bank.
The company can then utilize those Banked Hours in any way agreed with the staff. This allows the company to roster in the Banked hours at any time in the year without having to plan the entire year before issuing the shift pattern. Hence the manager can call on a member of staff with hours in the Bank to come in and cover for an absence at basic rate and without the usual rigmarole. This makes the operation more efficient, cost effective, productive and flexible.Banked Hours will work for a company as long as it is not abused. It is a very good method of guaranteeing Continuity Of Operations, stability in other words, with minimum effort on both sides.Do you want to reduce your absence levels down to zero?Banked Hours are a great way to get rid of your absence problems. If you are a running a shift operation you can use Banked Hours. Then if an absence occurs anyone on the Banked Hours system can be called in to cover the shift. The best part is that when the staff realise what is happening they can manipulate the system. They can swap shifts when they are absent and claim the Banked Hours for work they have never done. Everyone is happy. The company has no absence problems, the staff "think" they are getting paid for hours they never work. And the shift managers can relax because the staff are doing all the hard work of absence management for them.e-bookIf you would like to find out more or employ Banked Hours then our e-book Banked Hours is available from Amazon.
Our video training course covers everything you need to know about Banked Hours.Here are over 30 vides, each covering a separate aspect of using Banked Hours.The videos are only a few minutes long, so you can view them singly or a few at a time, whenever you have time.We look at the benefits for the organisation and the staff on a Banked Hours operation. We look at how many hours you need, when you need them, how you will use them, the problems you will encounter in using them and the solutions to those problems.As they are individual videos you can dip into them over and over again to refresh yourself or to show your colleagues the solutions to their problems.So everything there is to know in bite-sized chunks, available to view whenever you want and wherever you are.