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Working more than 40 hrs - how to structure comp?
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Working more than 40 hrs - how to structure comp?
Discuss workforce management, performance management, retention, communication, motivation, contributing to business results and other topics.
on...instead the DOL is giving out these "Administrative Inerpretation" and wouldn't you know it, the very first of these interpretation's reverses prior opinion letters stating that mortgage loan off
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Forums » Topic Forums » General Forum » Working more than 40 hrs - how to structure comp?
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Working more than 40 hrs - how to structure comp?
posted at 7/8/2010 12:29 PM EDT
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Posts: 2
First: 11/11/2008 Last: 7/8/2010 |
on...instead the DOL is giving out these "Administrative Inerpretation" and wouldn't you know it, the very first of these interpretation's reverses prior opinion letters stating that mortgage loan officers are now non-exempt. Those in the industry primarily used the admiminstrative exemption because there were duties such as entering data into a system, interpreting loan applications and gathering pertinent data, creating and iimplementing marketing programs, contacting clients, etc....
Sincethe administrative exemption cannot be used and these employees typically cannot pass the other allowable exemptions (not outside sales since some of the duties are inside)...we are reclassifying our mortgage loan officers. But wait...since there is a biz development aspect to their jobs (i.e. after 5pm or before 8am schmoozing with chamber of commerces, rotary clubs, etc.) it is anticipated these employees will be working more than 40 hours. We can try to control the hours by crating a policy that says if you work x number of hours outside of normal operating hours, then you must reduce your hours by the same number during operating hours. However, this is undesireable for scheduling with other employees and work on the computer, etc. Under FLSA, we have to pay at least minimum wage...but we wonder if can base a base wage on more than 40 hours per week (including time and a half wage rate for overtime)? If we want to come up with $2500 monthly salary...we annualize it and divide by 2080, comes to roughly $14.82....but that is assuming 2080 hours of work and this will be more... Curious how others structure base (hourly) salary for those positions where the typical work week is more than 40 hours? |
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Working more than 40 hrs - how to structure comp?
posted at 7/8/2010 5:38 PM EDT
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Posts: 2146
First: 2/15/2006 Last: 9/14/2011 |
And here is a really good article about FWW from a payroll site that has good articles!
http://www.payroll-taxes.com/articles/fluctuatingWorkweeks.html |
Forums » Topic Forums » General Forum » Working more than 40 hrs - how to structure comp?
