Description
Ensure youre compliant with employee wage payments and avoid back pay, wage and hour violations, and other consequences.
One of the most common United States Department of Labor (USDOL) wage and hour violations is the incorrect payment of overtime wages. The USDOL reports that, in 2022, an average of 1,393 in back wages was collected for each employee. Back wages are not the only impact of incorrect overtime calculations. Also impacted are tax payments, benefits, reporting, etc. The impact of paying employees incorrectly is farreaching and expensive. Payment of wages is more complicated than the hourly rate multiplied by hours worked. If you offer shift differentials, health insurance optout money, and bonuses for production, attendance, and oncall time the calculation of the overtime rate of pay becomes more complicated. This presentation will provide you with the information and understanding you need to ensure your compliance with employee wage payments and avoid back pay, wage and hour violations, and other consequences of incorrect wage payments.
Date: 2023-09-28 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to define employee payments that must be included in the overtime pay calculation.
* You will be able to discuss the impact of bonus programs on the calculation of overtime pay.
* You will be able to recognize if an employees pay is compliant with regulatory requirements.
* You will be able to identify if a bonus is discretionary or nondiscretionary.