Human Resources
Before hiring the right person for the job, you need to decide how you’ll pay them. Two of the most common ways to pay employees is with a salary or an hourly wage. You’re probably wondering which option is better: the flexibility of an hourly employee or the stability of a salaried one. Of course, the answer is never as straightforward as we’d like. Let’s compare the pros and cons of hourly vs. salary workers, the different laws for each, and what to look for when determining the right fit for your business. What is a salaried employee? A salaried employee earns an annual wage regardless of when they clock in and out. In other words, whether you work 20 hours or 60 hours per week, the number on your paycheck stays the same. To state the obvious, an employee isn’t paid their entire salary on the first day. Instead,…
There are two types of employees – “exempt” and “non-exempt.” You might’ve seen these terms on job postings, or heard them in conversation. If you aren’t sure what they mean, don’t worry. Trying to understand labor laws can be confusing, especially if you’re new to the workforce. — We’ve broken these terms down to help you navigate the exempt vs. non-exempt employee classification. How the Fair Labor Standards Act (FLSA) Affects Exemption Status Signed into law in 1938 by President Franklin Roosevelt, the Fair Labor Standards Act establishes minimum wage, overtime pay eligibility, and recordkeeping standards in addition to youth employment guidelines for both the private and public sector. During the time the act was signed, child labor was the norm and adults often worked 10 or more hours per day, six to seven days per week. While the conditions that brought about the FLSA may seem like the dark…
The past two years have been anything but consistent. The pandemic left the United States in the worst recession in history. People struggled to adjust to remote work, and what we defined as “normal” varied day-by-day. And yet: Out of that turmoil and inconsistency, we now see a record number of people quitting their jobs in pursuit of better opportunities. According to the U.S. Bureau of Labor, 4 million people quit their jobs in April 2021, and July saw another 4 million leave. Which leads me to question: Amidst the past two years of unpredictability — and a resulting lack of security — why are so many people taking the leap now? Here, we’ll explore what employee turnover is, how much it could be costing your business, and how to calculate employee turnover. Plus, how employers can minimize the effects of what’s being called the Great Resignation, according to experts.…
To determine what causes employees to leave — and to create a better, happier employee experience moving forward — it’s critical you conduct productive exit interviews. In this post, you’ll learn everything you need to know about exit interviews, plus the best questions you should ask. We’ll also go over an exit interview form template that you can copy and paste into a document and reuse for future interviews. What is the purpose of an exit interview? The purpose of exit interviews is to get valuable insight from employees who are leaving your company. When conducted correctly, these interviews tell you what, if anything, could improve about your company culture. You’ll then be able to improve moving forward and drastically reduce employee turnover. Why are exit interviews important? According to a study conducted by The Society for Human Resource Management (SHRM), on average it costs a company between six to…