Calculating Employee’s Regular Rate of Pay: Best Practices for Compliance and Accuracy
Pay rate isn’t just a simple dollars x hours equation.
A regular rate of pay can include a lot of figures outside of an hourly dollar amount.
With variances such as overtime, company bonus systems and additional incentives - the math quickly becomes complex.
Accurate, compliant calculations are crucial for reduced liability and efficient payments.
In this workshop, our expert will guide you through the different types of compensation that make up regular pay rates, the best practices for compliant calculation and how to handle special circumstances so you can avoid Department of Labor (DOL) or employee backlash.
Join us on February 6th to:
- Protect your company from payroll claims or employee complaints
- Stay compliant when incentives and overtime come into play
- Calculate accurate, fair pay rates without risks
- Learn the difference between discretionary and non-discretionary bonuses – and how it impacts the regular rate of pay
Calculating regular rate of pay and overtime for different types of employees
- How to calculate pay for salaried non-exempt employees, hourly staff and more
- What to do when an employee has two or more pay rates
- What to include (and exclude) for the regular rate of pay for different employee types
Compensation structures to consider when calculating pay rate
- Recognize the difference between discretionary vs. non-discretionary bonuses
- Know when a premium rate is needed for compliant payout
- How to keep common incentive programs compliant and beneficial
Navigating Department of Labor (DOL) compliance and employee complaints
- Write policies that cover all the bases and keep your company compliant
- Avoid backlash from the DOL or employees with accurate calculations
- The best practices to use for efficient, compliant payment processing
About the Speaker
Tricia Richardson, CPP, SPHR, SHRM-SCP provides clients with direct payroll assistance, information, education, consultation, and even empathy, in her role as a Consultant.
She has more than 25 years of experience in all aspects of workforce management (payroll processing, taxation, employee handbooks, human resources, benefits, etc.). Tricia is a Payroll and Human Resource “nerd” who actually enjoys reading Internal Revenue Code.
- Tricia is a Certified Payroll Professional (CPP) through the American Payroll Association (APA), a Senior Professional in Human Resources (SPHR) through the HR Certification Institute, as well as a Society for Human Resource Management Senior Certified Professional (SHRM-SCP).
- For the National American Payroll Association, Tricia is a Member of the National Speakers Bureau and a Contributing Writer to Paytech Magazine.
- For the Susquehanna Valley Chapter of the American Payroll Association, Tricia has taught for both the Payroll and Human Resource Certification Study Groups and has served as both the Vice President and President of the Chapter.
You’ll walk away from this workshop with an in-depth understanding of regular rates of pay, how to calculate for non-exempt salaried, hourly, commissioned, or exempt employees, as well as for employees paid more than one rate or receiving bonus payments.