Tag Archives: employee compensation

A recent article on NPR compares the earning power of a summer job in 1982 versus 2017, and for many reasons it should concern the boating industry. In short, the article shows that an average college student receiving no help from parents needed to work either nine hours a day, seven days a week for three straight months or 16 ...

If there’s anything we have learned from the year 2016, it is that this was not the year to be a betting man or woman. That is, of course, unless you like betting dangerously against the odds. From the Brexit decision to the U.S. presidential election to even the Cubs winning the World Series, it has been a year of ...

How to find (and keep) good employees Any organization worth its salt will tell you its greatest asset is its people. As such, the hiring and retaining on quality employees should be a business’s No. 1 concern. The boating industry isn’t unaware of the need to hire quality employees – if anything, the industry is hyper aware. But what is the secret ...

The new overtime rule from the Department of Labor will be implemented on Dec. 1, barring the success of any efforts to stop or delay the rule. It couldn’t come at a worse time for the industry: just before the start of boat show season. For the next month, business owners need to determine which employees this will impact and ...

On May 18, 2016, President Barack Obama and Secretary Thomas Perez announced the publication of the Department of Labor’s final rule updating the overtime regulations for white-collar workers. The new rule sets the standard salary level at the 40th percentile of earnings of full-time salaried workers in the lowest-wage Census Region, which is $913 per week or $47.476 annually. Any ...

Last week, 21 states sued the U.S. Department of Labor over the impending rule that would require employers to pay overtime to any salaried worker making less than $47,476 a year. Republican Nevada Attorney General Adam Laxalt filed the suit in the U.S. District Court in Eastern Texas, urging the court to block the implementation. Other plaintiffs include Alabama, Arizona, ...

On May 18, President Barack Obama and Labor Secretary Tom Perez announced the publication of the Department of Labor’s final rule updating the overtime regulations. The final rule focuses primarily on updating the salary and compensation levels needed for executive, administrative and professional workers to be exempt. Specifically, the final rule: Sets the standard salary level at the 40th percentile ...

If you have salaried employees who regularly work overtime, a new rule coming will affect your business directly. The Labor Department is moving to release its final rule to change the salary-base threshold amounts for exempting workers from overtime pay. After the final Fair Labor Standards Act coverage rule is published, employers will have 60 days to comply. The Office ...

Finding good applicants for open positions is never easy. Indeed, 47 percent of small businesses report few or no qualified applicants for the positions they were trying to fill. New research suggests attracting these applicants may require rethinking how we find them. A new study from Pew Research Center reported that among Americans who have looked for work in the ...

In a blog a few weeks back, I told you of my plans to read a new book — “Drive: The Surprising Truth About What Motivates Us” by Daniel H. Pink. Well, right now, I’m in the middle of it, and given that its premise is surprising and suggests we should radically change the way we compensate employees, I thought I’d share it.