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Archive for May, 2016

Final FLSA White Collar Exemption Rules Announced

Today the Department of Labor announced the new salary threshold for certain employees to qualify as exempt from minimum wage and overtime under the Fair Labor Standards Act’s White Collar Exemptions. Effective December 1, 2016, the new minimum salary level will be $47,476 per year ($913 per week). Up to 10% of this income may come in the form of non-discretionary bonuses, incentive pay, or commissions, as long as that portion of the compensation is paid at least quarterly. In the event that an employee does not earn enough in bonuses and commissions to meet the full minimum salary requirement, a catch-up payment can be made by the employer once a quarter. The minimum salary requirement

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FLSA Exemption Changes – Policy and Practice Updates and the Golden Rule

Last month we discussed dealing with the pay issues surrounding employees who may not make enough to be classified as exempt under the new rules. The article can be found in the Articles section of the Support Center if you’re interested, and the corresponding FLSA Decision Making Guide can be found in the Guides section. But aside from figuring out how to reclassify employees while protecting your bottom line, you’ll also want to consider a number of policies and procedures that apply to non-exempt employees, and whether they should be updated or added to your employee handbook or other operating manual. Let’s take a look at a few of these key policies, keeping in mind the Golden Rul

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Common Payroll Services Misconceptions

5 Myths About Outsourcing Payroll Services Does outsourcing payroll services make sense for your business? Before you answer, arm yourself with the facts. Overworked business leaders often talk themselves out of utilizing this critical function based on misinformation. Five common myths associated with an outsourced payroll service include: We Are Too Small To Afford It This is possibly the most popular misconception surrounding accounting services. You are legally responsible for payroll tax compliance the moment you hire your first employee. Not only will you have to manage filing returns and distributing payments, you also must ensure that your process adheres to lawful requirements t

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Go Paperless With Your HCM System

Incorporate Paperless HR In Your HCM Running a successful business means periodically evaluating efficiencies and workflow, particularly within the HR department. As the keeper of critical employee information, it's important to implement a human resources strategy that safeguards data, yet still offers easy access to permitted staff members. Paperless data systems have proven an ideal solution. Recent years have seen paperless solutions surge in popularity in human resources departments, for a wide range of reasons. As companies rely more heavily on technology to manage their ever-growing influx of data, eliminating the HR paper trail in their HCM system streamlines workflow. No longer wil

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Managing Your Managers

As business owners, executives, and supervisors are all aware, managing employees is one of the hardest parts of running a business. You must balance their strengths and weaknesses, their personalities, and their skill sets, all while trying to earn and maintain their loyalty. And then, like a marching band conductor, you must bring them all together so they’re working in unison for the success of your organization—each member playing the right note, at the right time, from the right location on the field. Managing your managers is no different. They act as your section leaders, training and directing those in their departments, and providing coaching and encouragement as needed. But th

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CA & NY Minimum Wage

With California and New York implementing statewide plans for a $15 an hour minimum wage, we can expect other states and likely more cities to propose their own minimum wage increases soon. The push for a $15 minimum wage has been around for several years. Demonstrations in favor of it began in November of 2012, when fast-food workers in New York City walked off their jobs in protest of their low wages. While 29 states and the District of Columbia have minimum wages above the federal requirement, and several have passed significant increases in the last year or two, the federal minimum wage of $7.25 hasn’t been increased since 2009. Since then, it has lost close to ten percent of its purc

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Choose Experienced 401K Management Companies

What Makes A Good 401K Management Company 401K management companies can make a major impact on businesses of every size, and in any industry. Many workers rely on this important program alone to financially prepare them for when they decide to leave the workforce. However, not all 401K firms are alike; arbitrarily choosing a firm to entrust with your employees' retirement funds can have a negative impact on the entire savings experience. In order to maximize the advantages offered by 401K management companies, finding a quality, high-performing partner is a must. 401K Management Companies: Know The Good…And The Bad Even the most motivated entrepreneur quickly realizes that finding a soli

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