We are often asked what Interchange Optimization really means and the impact it has on a company’s bottom line. The answer is complex, but at its core, Interchange Optimization is based on industry-specific program requirements that were created by the card brands (Visa, MasterCard, Discover, AMEX).
The new presidential administration is expected to have a significant impact on the employment and labor regulatory and enforcement landscape. While it’s yet unclear exactly what the impact will be, experts in human resources are anticipating a more employer-friendly shift and a change in course from the Obama administration’s priorities.
For many, life was a lot simpler decades ago. Granted, the advancements in technology and medicine didn’t seem to come as quickly as they do now. And we probably all wonder how we ever lived without cell phones. But the slower pace is something people these days probably wouldn’t mind experiencing every now and then.
True or False: Overtime hours must be paid at a rate of at least 1½ times the regular rate of pay. If you said “true” you are correct. However, do you know what the “regular rate of pay” is and how to calculate payment for overtime hours?
Historical studies of employee theft suggest a general “10-10-80” rule of thumb. This proposes that 10% of employees will never steal, 10% will always steal, and 80% could go either way depending on circumstances and opportunity.
While the culture and example set at any company will influence the 80% when facing a decision, there are also effective theft-prevention measures to use that go beyond principles:
The state of Michigan just released a new mandatory notice to Michigan labor law for minimum wage, which must be posted for your employees. The federal government also recently released two mandatory notices that were effective in August.
Addressing workplace issues – including sticky HR situations – quickly and efficiently is important to employee retention, productivity, and to avoid and/or reduce potential liability to the company.
Some issues and concerns are common and frequent, and they are quickly and routinely addressed. The quandary occurs when you’re presented with a sticky HR situation that you have not previously encountered.
What do you do when:
If you accept resumes, we recommend that you also require the completion of a job application. Here’s why:
Training employees may be a high priority for employers, but is it often poorly executed. If you train employees properly and give them adequate time to practice their new skills – with ample feedback along the way – you will see increased accuracy, less anxiety, and more teamwork.
Without proper training, you may be setting your employee up to fail. Think about the impact errors make on your workplace. When a new employee makes mistakes, revenue may be lost, reputation may be impacted, and teamwork may be affected. You may even lose the employee.