A time bank is a working day flexibility mechanism that allows employees to accumulate additional working hours performed within a given period of time. “Personal Account” for later offset Free time or reduced working hours available During periods of low activity, instead of paying overtime immediately,
What is “Hour Bank” proposed by Work Style Reform?
suggestion Labor reform also includes time bank figures Allows greater flexibility in the organization of work, especially in sectors with seasonal or fluctuating activities.
It is established as follows. Collective or individual agreements at different levels That way, you can negotiate your allocation for the day.
During periods of high demand or peak production, workers can extend their days (for example, working 10 hours over 4 days instead of 8 hours) and those additional hours accumulate in the bank.
During periods of low demand, workers can spend their accumulated time on: Taking compensatory leave, shortened business hours, However, this does not mean a reduction in salary.
According to information about the project, the time bank is Replaces traditional overtime, but does not completely replace it. Article 201 of the Labor Contracts Act (LCT), which regulates 50% and 100% premiums for overtime work, remains in force, but time banking may take precedence by agreement. If no agreement is reached, hours will continue to be paid with additional fees.
The objective is to adjust time allocation according to the company’s production peaks. allow workers to take time off Second, it’s about finding a balance between productivity and rest.
What is the Greek model
Although the “Greek model” has been cited as an inspiration for Argentina’s reforms, there are certain features of this model that have caused controversy.
extension date: Workers can voluntarily extend their working day from 8 hours to 13 hours. However, it is limited to a limited number of days, up to 3 times per week and 37 days per year.
compensation: Hours worked beyond the legal working day are accumulated and compensated for with subsequent breaks, but the additional compensation is less than traditional overtime pay. The additional surcharge is 40%, rather than the higher surcharge of other countries and the current Argentine system.
Deliberately: Extension of the working day is stipulated to be voluntary, and employers cannot fire workers who refuse to extend their working hours.
minimum rest: You should ensure at least 12 hours of rest between days.
What are the world’s “time banks”?
andHourbank is a labor flexibility tool used in different countries, but there are differences in their regulations.
Spain
This mechanism is known as time pooling or overtime compensation. The law allows collective agreements (sectoral or enterprise agreements) to establish how: Overtime can be compensated for with breaks Comparable compensation will be paid in lieu of a salary premium.
Rest must be enjoyed compulsorily Up to 4 months After the time is made. This allows companies to manage peak work while recognizing that their employees’ primary reward is time off.
Brazil
Please make full use of Hour Bank. Consolidation of Labor Laws (CLT) Authorizes overtime work to be compensated with breaks through individual compensation agreements for a period of up to six months or through collective agreements or agreements that may extend that period. Up to 1 year.
This system is essential for industries with fluctuating activity, as it allows the legal average working day to be maintained. Without constant overtime pay.
France
This is a more sophisticated system called Time Savings Account (Compte Épargne-Temps – CET). This mechanism It goes beyond just overtime pay. Allow employees to accumulate time (overtime, unused rest days, vacation days) in separate accounts.
This accumulated time can be used later as follows: Paid time off (such as sabbatical leave or vacation funds), in some cases converted directly to compensation or used as retirement funds.
CET is the next tool. Time management and long-term savingsagreed through agreements between companies or departments.
Germany
A working time account (Arbeitszeitkonto) is used. These accounts allow workers accumulate a surplus or deficit of time Agree collectively during a reference period (which can be short or long).
The purpose is Balance working hours and rest periods Throughout the year or even longer. If an employee works more in a quarter, that time is “saved” in the account and used during periods of less activity to maintain a constant paycheck.
Chile
This reform, which establishes a 40-hour day, has expanded the possibility of negotiating the distribution of working hours and compensation systems through agreements.. These systems provide greater accommodation for workers by allowing them to compensate for overtime with additional rest days within the framework of reduced hours.
Mexico
Federal labor law allows for adjustment of working hours and compensation by agreement between employers and workers, particularly in flexible work arrangements.
canada and australia
They use schemes such as time banking and time off in lieu of time (TOIL), which are regulated by collective agreements and company policies and convert overtime into free time.
Denmark, Norway, Sweden
The Nordic countries apply a working time account system where time can be accumulated and used according to individual and family needs.
The “time bank” aims to adapt the day to fluctuations in production demand, allows control over the distribution of the 48-hour week over a base period, and prioritizes compensatory time off over premium pay.
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