holiday pay
"Holiday pay" refers to the compensation provided to employees for time off during holidays or for working on designated holidays.
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Definition
B2Employment
(general)Compensation given to an employee for time off during public holidays to ensure they do not lose wages.
Example
- Employees receive holiday pay for days like Christmas and New Year's Day.
B2Employment
(general)Additional wages provided to employees who work on public or company-designated holidays, often at premium rates.
Example
- Workers who clock in on Thanksgiving may receive holiday pay at time-and-a-half.
Similar
Terms that have similar or relatively close meanings to "holiday pay":