Wednesday, December 4, 2019
Do you know how to calculate the “regular rate of pay” for your employees? (hint: probably not)
Often times, however, employees aren’t just paid a straight hourly rate. Uh oh.
In fact, non-exempt employees are paid in lots of different ways: salary, piece rates, commissions, bonuses, and shift-differentials, for example. Each has a significant impact on the calculation of an employee’s “regular rate,” and therefore the overtime rate. And the risks of a miscalculation are huge, including class actions lawsuits and large attorney-fee awards.
Thankfully, I have your wage-and-hour back. Jump over to Gusto to read all about how to calculate the regular and overtime rate for each of these various alternate compensation methods. I even did some math for you.
* Photo by Sharon McCutcheon on Unsplash