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 Basics. In most places, state law dictates how often you must pay your employees, at a minimum. However, you can choose to pay more frequently than the law dictates, just not less frequently. There are 4 common pay schedules: biweekly, semi-monthly, monthly, and weekly.To learn more about each, please click here.i-weekly pay schedules can be complicated if there are 27 pay periods in a year (as opposed to the normal 26). This occurs depending on which day the year starts with, and how the days of the week fall.