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How to set up a payroll process: 10 steps

Insperity

These are salaried employees who are not eligible for overtime compensation. Outside consultants are often hired to assist with specific projects, and are responsible for paying most of their own payroll taxes. Whether you have hourly or salaried employees, you must figure out who is getting paid what amount.

Payroll 262
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Comp time vs. overtime – What you need to know

Insperity

Using the same logic, some people think salaried employees are automatically considered exempt from overtime, but neither of those beliefs is necessarily true. A salaried employee can be eligible for overtime and protected by FLSA, if their job is also classified as non-exempt. Offer flexibility in work schedules.

Legal 197
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How to retain employees and thrive during the Great Resignation

Insperity

Interestingly, consulting firm Grant Thornton reports in its State of Work in America survey that two in five workers (40%) who changed jobs in the last year are already looking for another job. A lot of training and development opportunities don’t have to break the bank, either.

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The ultimate guide to navigating a multigenerational workplace

Work Life

However, older millennials in particular can be slow to trust—likely owing to the fact they entered the workforce during the 2008 financial crisis, when dishonesty in the banking sector dominated the news cycle. Another survey found that 37% of Gen Z workers would put job satisfaction ahead of security or salary.

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Should your company offer a student loan repayment benefit?

Insperity

If you hire two recent graduates and one has student debt and the other doesn’t, will you offer the non-debt-laden employee extra salary? Require employees to pay at least their monthly minimum and use direct debit to make payments because nearly all loan services offer a discount if loan payments are made by bank debit.

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You Will Survive: 8 Strategies to Overcome New Entrepreneur Anxiety

Success

This panic arrives the moment we realize we’ve strayed too far from the paycheck mothership and feel compelled to run back to the salaried womb. Day 1 of being your own boss is pure bliss, but as the months pass you’ll likely watch your bank balance dwindle and notice your zest fizzle to a cool reluctance. Secure a “consulting” gig.

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The Art of Problem-Solving: 4 Creative Strategies to Tackle Your Biggest Obstacles

Success

You launched this side hustle in 2017 but recently left your salaried job to take this business seriously. . How it works : Global consulting firm McKinsey & Co. The scenario : You are employed full time at the bank and also have a side hustle: an e-commerce store that sells retro video game systems.