Remove Manufacturing Remove Overtime Remove Retail
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New Overtime Rules 2024: What Employers Need to Know

HR Lineup

As 2024 unfolds, employers across various industries are grappling with new overtime regulations that significantly impact their operations and labor costs. This comprehensive guide will delve into the new overtime rules, explaining their implications for employers, and offering practical advice on compliance.

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Expert Q&A: Understanding the DOL’s Overtime Rules

HR Digest

The overtime rules went into effect on January 1, 2020. Under the new proposal, people earning a salary level of $679 for 40 hours per week (about $35,308 annually), will be eligible for overtime pay based on varied duties. Six discussions were held, and it was decided that the present compensation for overtime was inadequate.

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Time off in lieu (TOIL) Is it right for your business?

Business Management Daily

Employers typically compensate for extra work with overtime pay. Time off in lieu (TOIL) compensates overtime work with additional time off rather than money. When employees put in overtime hours to get a project across the finish line, they receive more vacation time “in lieu”/instead of a bigger paycheck.

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Papershift

HR Lineup

Additionally, Papershift supports automatic overtime calculation and adherence to labor laws, simplifying payroll processing and ensuring compliance with regulations. Moreover, Papershift is highly adaptable and can cater to various industries, including retail, hospitality, healthcare, manufacturing, and more.

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The Staggering Cost Of Disengaged Employees: How Disengagement Impacts Your Bottom Line

Vantage Circle

The Math Behind Lost Work Hours and Overtime Costs In 2015, Centers for Disease Control and Prevention (CDC) research showed that employee illness costs U.S. businesses approximately $225.8 billion annually in lost productivity.

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How people analytics can help your business

Insperity

For example, if you’re in retail, manufacturing, home healthcare or any industry that employs mostly hourly workers, then overtime and compensation analytics will be very useful to you. 6 people analytics use cases. You can also use this information to create better compensation and retention plans. Labor cost analysis.

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Mandatory vacation time for employees: 6 pros and 6 cons

Insperity

If a nursing team is short-staffed and working overtime to cover all shifts, one person taking a week off may cause a hardship to coworkers and managers. This is common in the manufacturing, tax consulting and retail industries, where companies have distinct, predictable busy seasons. 6 cons of mandatory PTO.

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