Is a record of the hours of work spent by an employee in any given accounting period (e.g. three months) that shows ‘credit’ or ‘debit’ hours. The former are accumulated when the employee works more than their contractual hours in the accounting period, whilst the latter accrue when the employee works below contracted hours. The system was developed in Germany and is designed to allow flexibility in the management of working time that can benefit both employers and employees. Employers can benefit by being able to call on workers to work more than their contractual hours at times of peak business, whilst workers can ‘bank’ hours to secure longer holidays or periods of time away from work. [See time-off-in-lieu.]
Subjects: Human Resource Management.