Jim Holland was recently interviewed by Dr. Mike Strauss, host of GoodLife U, a podcast produced by GoodLife Innovations.
In the episode, Jim provides an overview on how premium pay works, the legality of it from both a federal and state level, and its “incredible win-win benefits.”
“It’s a very unique issue in terms of how the pay structure can work,” he said. “As a general rule, any money that you pay to a non-exempt hourly employee gets thrown into a bucket. And at the end of the week, to figure out what that employee’s regular rate is, you divide by the hours they work, and you pay time-and-a-half for overtime hours. Premium pay is a way to exclude some of the items you throw into the bucket.”
Listen to the full podcast at GoodLife Innovations.
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