Author Archives: Payroll Dynamics

About Payroll Dynamics

Workforce Mgmt Solultions via our fully integrated web application. Payroll, HR, Time/Labor & Benefits have never coincided on one platform before...until now!

Who Is Excluded From the FLSA’s Minimum Salary Requirements?

Executive, administrative and professional employees who meet the FLSA’s job duties and salary basis criteria are exempt from the act’s minimum wage and overtime pay provisions. Per the FLSA, these employees must be paid no less than $455 per week … Continue reading

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Inclement Weather and Your Payroll Obligations

Hurricanes, storms, tornadoes, blizzards, floods and other weather-related disasters can cause inclement weather closures. But even if one of these calamities causes your business to close, your employees must still be paid on their next regularly scheduled payday if they … Continue reading

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Do You Know Your Turnover Rate?

Employee turnover is the percentage or number of employees who leave a company and are subsequently replaced. Industry experts put the cost of replacing an employee at somewhere between 50 percent and 60 percent of the departing employee’s salary. This … Continue reading

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Can You Make Direct Deposit Mandatory?

In 2016, the National Automated Clearing House Association (NACHA) reported that 82 percent of U.S. employees are paid by direct deposit, jumping from 74 percent in 2011. Clearly, direct deposit is on the rise. But you may be surprised to … Continue reading

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Fully Insured Versus Self-Funded Health Plans

There’s more than one way to fund health insurance. Below are two of the key options. Fully insured A fully insured health plan is purchased through an insurance carrier. Typically, the process is as follows: The employer negotiates the best … Continue reading

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How to Handle Supplemental Wages

Basically, supplemental wages include a variety of items paid in addition to regular wages. Whereas regular wages constitute straight-time hourly pay or fixed salary, supplemental wages include: Bonuses. Back pay. Commissions. Overtime pay. Lump-sum vacation payments. Retroactive pay increases. Severance … Continue reading

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Back Pay and Form W-2

Back pay, or back wages, is the difference between what an employee was actually paid and what should have been paid. Maybe you inadvertently made a payroll mistake, but regardless of how the situation was created, you should know that … Continue reading

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