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.
Full-time biweekly salaried employees are generally paid 80 hours each payday while semimonthly employees receive 86.67 hours. Specifically, full-time salaried employees are compensated for 2,080 work hours yearly. As an employer, to arrive at the hours for a biweekly employee, divide 2,080 by 26 pay periods.he main difference between a biweekly and semimonthly payroll is that biweekly happens every two weeks while semimonthly occurs twice per month, such as on the 15th and final day of the month.