Wiktionary(0.00 / 0 votes)Rate this definition: 1  exchequer(Noun) a treasury. 2  exchequer(Noun) an available fund of money, especially one for a specific purpose. 3  Exchequer(Noun) the government department that collects and manages revenue.
Definition. Shift pay is the practice of paying a premium to employees who work the less desirable hours a business must operate. The premium, also called a shift differential, compensates workers who are scheduled for a second or third shift.Some employers pay a shift differential for working weekends, holidays or split shifts.hen deciding if shift pay is appropriate for your business, itâs helpful to consider what other businesses in your industry do. Shift pay is used by 83 percent of manufacturing firms and 59 percent of customer support businesses, according to Culpepper Compensation Surveys & Services.
The main difference between an annual salary and an hourly wage is that a person must work to get paid when he is getting an hourly wage. For instance, a person working 40 hours one week and 20 hours the next will get paid for 60 hours of work when on an hourly wage.f a person gets an annual salary, he will get the same set payment every other week despite working less during the second week. In other words, a salaried person will get the same salary for working 20 hours and 40 hours. However, workers paid salries are often expected to work set hours and overtime when required.