Dear Clients, Vendors, Partners and Friends:
Greetings to you this holiday season!
Though it is cold outside here in Chicago, we send you warm wishes from the Precision family. It’s hard to believe that 2019 is coming to a close. As we reflect on the year, there is much to celebrate.
We feel fortunate and grateful to work with all of our clients—each of whom is making an impact in their own way. We know how much time and dedication this takes, and hope that you are able to pause and take time to enjoy friends and family over the holidays.
Cheers to 2020! Wishing you joy and prosperity in the year to come!
At your service,
Tom Sodeika, CEO & President
& Your Payroll Team
Exempt vs. Non-Exempt Classification:
What Does It Mean?
The Department of Labor has issued a final rule amending the overtime provisions of the Fair Labor Standards Act (FLSA), raising the minimum salary threshold for workers in jobs that qualify as exempt to increase from $23,660 to $35,568 annually ($684 per week).
Now finalized, the new rule will take effect in January of 2020. It is expected to prompt employers to reclassify more than one million currently exempt workers to hourly or non-exempt status and raise pay for others above the new threshold.
The classifications are confusing, as is the criteria for defining them. Here is a Q&A to help clarify.
What does it mean for a job to be salaried exempt vs. salaried non-exempt?
Salaried exempt means that an employee is paid a salary independent of the number of hours worked and is exempt from the Fair Labor Standards Act (FLSA) that requires overtime pay for hours worked over 40 hours. Salaried non-exempt means that an employee is paid a salary, but must also be paid for overtime for any hours worked beyond 40 during a regular work week. (There may be state-specific higher levels).
How is being paid hourly different than salaried non-exempt?
READ MORE >>
Upstream to Downstream:
What’s the Source of My Data?
These are concepts that we hear in business models, but are often tough to visualize.
Upstream is the source, the start, the beginning. In this case, it’s the raw data. In the age of instant information, the source of data and reports is often obscured. The many little streams that feed into the river often get lost.
To fully understand a report, you need to understand where the information came from. The iSolved HCM integrated cloud system can help you organize the upstream data to create relevant reports. Then you can import these into your ERP, or other systems.
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Spoofing, Phishing & Hacking:
What They Are & How to Protect Yourself
At this time of year especially, the number and variety of malicious email scams always seems to swell. Though it is disappointing, the fact is, most everyone’s email addresses are easy to get ahold of. If they aren’t already on a public domain site, like Facebook or LinkedIn, then they are readily available for purchase on the black market.
Quenton M. Quiney, Precision’s Network Administrator, shares what you need to know about email security.
The term spoofing refers to a category of scam in which the sender poses as somebody else—using a forged sender address. Spoofing emails look like they are from a trustworthy source. An email message sent to your address from a forged sender without your permission is certainly illegitimate, but it is not an intrusion or a “hack.”
Phishing is another scam that involves posing as somebody else in an email.
READ MORE >>
iSolved Quick Help Videos:
Now in the University!
Have a quick question? Need to know something specific, but only have a few minutes? The new “Quick Help Videos” in the iSolved University are your answer.
You can log in and in about five minutes or less, watch a step-by-step video to aid you in answering your question. There are videos for payroll, time, HR, benefits and much more. Find this helpful section under the Library menu, at the bottom of the list under “Quick Help Videos.” Check them out today!