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.
As long as your employer pays you at least the minimum wage, any pay arrangement for working certain shifts is a matter of agreement between you and the company. If you're a union member, your collective bargaining agreement contains the wage rates for workers assigned to every shift.But some employers do pay swing-shift workers different rates because of the impact a swing shift can have on the employee's work-life balance.f you're a union member, your collective bargaining agreement contains the wage rates for workers assigned to every shift. But some employers do pay swing-shift workers different rates because of the impact a swing shift can have on the employee's work-life balance.