Econ I'm feeling the Bern.

[Willy Leadwell]

I just got a notice from my payroll company that the DOL has now decided that salaried employees making under $50,440 per year are eligible for overtime pay on hours over 40 per week.

So basically, they just set a $24.25 minimum wage for salaried employees and put the burden to track salaried employees hours on the employer.

Can someone tell me how this is helping?

 

[Strider12]

I just got a notice from my payroll company that the DOL has now decided that salaried employees making under $50,440 per year are eligible for overtime pay on hours over 40 per week.

So basically, they just set a $24.25 minimum wage for salaried employees and put the burden to track salaried employees hours on the employer.

Can someone tell me how this is helping?

Who is your payroll company? ADP?

Sent from my SAMSUNG-SM-N910A

 

[Willy Leadwell]

Who is your payroll company? ADP?

Sent from my SAMSUNG-SM-N910A

No, I used ADP for a minute. They were terrible to deal with. I use Paycor now.

 

[Thenut]

do payroll companies have that authority, or is this an edict from yet another unelected branch of the federal gov? might not be feasible depending on the size of your firm but id just hire my own payroll guy or use a different company.

either that or move your employees from salaried to hourly (note, im not expert on labor laws because frankly i think most of them are fucking ridiculous and repugnant to the capitalist system)

 

[Willy Leadwell]

do payroll companies have that authority, or is this an edict from yet another unelected branch of the federal gov? might not be feasible depending on the size of your firm but id just hire my own payroll guy or use a different company.

either that or move your employees from salaried to hourly (note, im not expert on labor laws because frankly i think most of them are fucking ridiculous and repugnant to the capitalist system)

No, this is a requirement set forth by the DOL. I've been down the do my own payroll route. For what it costs to hire a firm, never again. And yes, all salaried employees under or near the $970 week threshold will likely be moving to hourly pay. I see a lot of "I'm sorry, the government says you have to punch a time clock now, so I'm going to start paying you hourly based on what you were making before this stupid law was imposed on us" in the near future.

 

[Thenut]

No, this is a requirement set forth by the DOL. I've been down the do my own payroll route. For what it costs to hire a firm, never again. And yes, all salaried employees under or near the $970 week threshold will likely be moving to hourly pay. I see a lot of "I'm sorry, the government says you have to punch a time clock now, so I'm going to start paying you hourly based on what you were making before this stupid law was imposed on us".

that sucks. kinda makes you the unwilling bad guy but hopefully your employees will understand

 

[Strider12]

My wife is a payroll officer and hasn't received this notice yet.

Sent from my SAMSUNG-SM-N910A

 

[Willy Leadwell]

Florida has already had something like this on the books for a while. We had an assistant manager down in Tallahassee a few years ago who was "working" after hours and on weekends. Turns out, he was working off the books and pocketing cash. When he was terminated, he sued us for overtime. The only evidence the court had was the burglar alarm log showing when he was coming and going. They looked at that and ordered us to pay him almost a year of his salary(he hadn't even been there that long). Paying him and our lawyers ended up running about $75k.

 

[Willy Leadwell]

that sucks. kinda makes you the unwilling bad guy but hopefully your employees will understand

We changed our policy on paying salary after(my previous post). My assistant manager position is currently open and that would be the only person in my organization who might be affected by this. So currently, I don't have to worry about it. But more than likely when I do fill my assistant manager position, I will have to pay hourly plus bonus instead of the salary plus bonus that I usually pay.

 

[Willy Leadwell]

My wife is a payroll officer and hasn't received this notice yet.

Sent from my SAMSUNG-SM-N910A

Apparently it's been in the works, but is slated to become official very soon.

http://www.ajc.com/news/business/new-overtime-rules-affect-thousands-in-georgia/nmzQK/

 

[Thenut]

We changed our policy on paying salary after(my previous post). My assistant manager position is currently open and that would be the only person in my organization who might be affected by this. So currently, I don't have to worry about it. But more than likely when I do fill my assistant manager position, I will have to pay hourly plus bonus instead of the salary plus bonus that I usually pay.

what line of work are you in again sir?

 

[Shemp]

Yay big government

 

[Willy Leadwell]

what line of work are you in again sir?

I have an automotive production paint shop.

 

[Willy Leadwell]

Yay big government

Big governement "Here to solve your problems before we even create them"

 

[Thenut]

I have an automotive production paint shop.

gawd

is no industry safe? government might as well be mafia goons dictating how to run your.....excuse me, their business (you didnt build it, someone built it for you; so let them run it for you)

 

[Strider12]

We changed our policy on paying salary after(my previous post). My assistant manager position is currently open and that would be the only person in my organization who might be affected by this. So currently, I don't have to worry about it. But more than likely when I do fill my assistant manager position, I will have to pay hourly plus bonus instead of the salary plus bonus that I usually pay.

How much does it pay lol? I have experience.

Sent from my SAMSUNG-SM-N910A

 

[Shemp]

How much does it pay lol? I have experience.

Sent from my SAMSUNG-SM-N910A

I dunno...but when I was at his shop I saw a huge bin filled with Cracker Jack labeled "Employee Benefits Packages"

 

[Willy Leadwell]

How much does it pay lol? I have experience.

Sent from my SAMSUNG-SM-N910A

It's heavily incentive based. The location manager gets the lion's share of the bonuses. He makes a salary of $600 week, but grossed $85,000 this past year. The assistant makes a little less salary and generally will make about $40,000-$50,000. The ultimate goal is for a good assistant manager to become a location manager as this parallels my goal of expansion.

 

[Strider12]

I dunno...but when I was at his shop I saw a huge bin filled with Cracker Jack labeled "Employee Benefits Packages"

In!!

Sent from my SAMSUNG-SM-N910A

 

[Willy Leadwell]

I dunno...but when I was at his shop I saw a huge bin filled with Cracker Jack labeled "Employee Benefits Packages"

"Benefits" is one thing you ain't getting from me. Just like my grandaddy always said, the benefit I offer is that you basically set your own salary, make a lot of money and pay for your own damn health insurance. Hell nowadays you don't even have to worry about that since Obama is gonna pay for it.

Paid vacation and holiday is about the extent of my benefits package. I can throw in a virtually unlimited supply of Cracker Jack as well. I do find it increasingly difficult to compete for candidates with bigger companies who can afford to pay for health insurance, match 401k and provide "personal days" for when you need to just retreat to your safe space after hearing some harsh words. Although, money now ranks as number 6 on the list of things that motivate employees(I think Forbes recently placed money as #10 motivator). People today are more concerned with security and comfort than they are with opportunity and growth.