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.
Knowing Your Pay. One advantage to being paid a set salary is that you know exactly how much you will be paid each week, month or year. Because your income does not vary from week to week or month to month, it can be easier for you to do your personal budgeting as well as retirement and tax planning.o Pay For Extra Work. An employee who is classified as non-exempt and paid hourly gets additional pay if he works more than 40 hours in one week. Any hours over 40 are paid at one and a half times his regular rate of pay.