Episode 14. 5 Reasons You're Not Paying Overtime Correctly
With the DOL on the hunt for wage and hour violations, overtime is likely one of the most ubiquitous, but unsuspecting areas of your payroll that violations could be lurking.
Overtime is not as simple as "Time and a Half". Especially in New York State, there are a number of factors that go into calculating overtime rates. And not knowing them can cost your business thousands of dollars. In this episode, Emily Martin (Ally HR Partners) and Jennifer Strait (Complete Payroll) point out five costly mistakes that employers commonly make when calculating overtime rates so that you don't make them yourself.
🎬 Video Breakdown:
3:53 Reason 1: You Are Not Calculating Overtime on a Weighted Average Basis
7:11 Reason 2: You Don't Know What is Considered a "Regular Wage" when Determining Total Wages
9:46 Reason 3: You're Not Including Breaks When Calculating Overtime Rates
11:48 Reason 4: You're (Incorrectly) Treating Non-Exempt Employees as Exempt Employees
13:59 Reason 5: You're Simply Not Recording Employees' Time Correctly
15:58 Summary: Overtime is Not As Simple as Time & 1/2
