Overtime should be at minimum 2x your wage for the time. Right now I am in a situation and have seen others say that companies are working them to the bone with overtime and won't hire new people to take some of the stress off.
Realistically, it's cheaper to make people do overtime than to hire someone new, but if the price of overtime was higher, it would make more sense to not purposefully understaff and overwork your employees.
Feel free to poke holes in this if there are any.