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Itās hard to make sound decisions when your financials are either structured in a way that buries the relevant information or certain aspects, such as your labor burden, are misinterpreted. āDonāt assume your data is accurate, reliable, relevant and comprehensive without a thorough investigation,ā says John Joestgen, principal of JJ Landscape Consulting. āIf you want […]
For many employers, the thought of overtime sounds like increased costs. But it doesnāt have to be that way. With proper planning and execution, overtime is a great tool that offers stability for your business. It also gives your company room to increase sales and grow. Planning Gives You Stability A common misconception is that […]
Recently, the Department of Labor issued a final rule, updating and revising regulations outlined in 13(a)(1) of the Fair Labor Standards Act. The rule addresses the exemption from minimum wage and overtime pay requirements for executive, administrative, and professional (EAP) employees and will take effect on July 1, 2024, increasing both the standard salary level […]
Itās a commonly held belief that overtime is bad for business and is only a sign of being inefficient. However, when used strategically, it can help increase profits and mitigate labor issues. āItās not bad in itself,ā says Ed Laflamme, LIC, a partner with The Harvest Group. āIt’s bad because people are taking on so […]
