Remove Manufacturing Remove Payroll Remove Salary
article thumbnail

New Overtime Rules 2024: What Employers Need to Know

HR Lineup

Department of Labor (DOL), aim to adjust the salary threshold for overtime eligibility. Increased Salary Threshold for Exempt Employees New Threshold: The salary threshold for exempt employees has been raised to $55,000 per year. This audit should include a review of job duties, salary levels, and hours worked.

Overtime 235
article thumbnail

Calculate burden rate boost profitability

Business Management Daily

Calculating an organization’s burden rate , which highlights additional indirect costs associated with labor, manufacturing, and overhead, is necessary to get a clearer picture of its bottom line. How much does your organization cost to employ one person or manufacture a product? The same is valid for manufacturing a product.

401(k) 52
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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

Vantage Circle

SHRM (Society for Human Resource Management) estimates replacement costs at 6-9 months of an employee's salary For a $60,000 annual salary, replacement costs could range from $30,000 to $45,000 The Hidden Costs of Lost Productivity, Training, and Onboarding The costs of employee disengagement are much higher than we often realize.

Salary 111
article thumbnail

The essential guide to payroll in the Philippines

Ascender

Whether you’re considering setting up payroll operations in the Philippines, or you’re joining an established team there, you’ll need to be across the basics of payroll compliance. Overview of payroll requirements. Some non-taxable allowances are often factored into a worker’s salary package. Here’s what you need to know.

Payroll 97
article thumbnail

Common Tax Forms Employers Need to Know: A Complete Guide

HR Lineup

Form 1099 Form 1099 is a series of documents used to report various types of income other than wages, salaries, and tips. Employers may need to provide information to employees to help them complete Form 1040, such as W-2 wage and salary statements, which report annual earnings, taxes withheld, and other pertinent information.

Taxes 246
article thumbnail

The essential guide to payroll in New Zealand

Ascender

Whether you’re considering setting up payroll operations in New Zealand, or you’re joining an established team there, you’ll need to be across the basics of payroll compliance. Its major industries are tourism, manufacturing, and agriculture, with information technology growing rapidly. Overview of payroll requirements.

Payroll 90
article thumbnail

Tax Exemption on Overtime Pay, What HR needs to know for 2025

HR Digest

The tax overtime proposal could significantly make overtime more appealing, potentially encouraging employees to volunteer for extra shifts in demanding fields like healthcare, manufacturing and logistics. Salaried exempt employees are ineligible for overtime under FSLA rules. So, what does it mean for HR teams?