Typically, employers provide hourly or salary wages to workers. However, some business owners pay commission to employees. What is commission?
Read More What Is Commission, and How Does it Impact Businesses and Employees?Compensation Articles
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What You Need to Know About Supplemental Wages
Regular wages aren’t the only compensation you could provide to employees. You might also offer supplemental wages. Not sure what those are? Read on to learn what supplemental pay is and how it is taxed.
Read More What You Need to Know About Supplemental WagesWhat Are Allocated Tips?
In the foodservice industry, tips are an important part of employee compensation. Tips are added to employee wages so they can earn at least minimum wage. But, what happens when a tipped employee earns few tips?
Read More What Are Allocated Tips?How to Pay Yourself from Your Business
You know by now that running your own business doesn’t mean you sit around as stacks of cash come flooding into your office. Being a business owner means being busy nonstop to keep up with operations. Since running a business is your full-time job, you need to know how to pay yourself from your business.
Read More How to Pay Yourself from Your BusinessWhat Is a Draw Against Commission?
If you have sales staff, you might pay them commissions. Paying employees with sales commissions can incentivize employees to make more sales. While commissions can get employees to sell more, employees aren’t guaranteed steady pay. To give your sales staff more financial stability, you can use a draw against commission system.
Read More What Is a Draw Against Commission?Is There Such a Thing as Self-employed Unemployment?
No small business owner wants to think about their company going under. But, planning ahead can help you prepare for the worst possible scenario—unemployment. Millions of people claim unemployment benefits each year in the United States. You might wonder if you can receive these benefits as a business owner. You must understand the rules on […]
Read More Is There Such a Thing as Self-employed Unemployment?A Look at Deferred Compensation Plans
For many employees, generous benefits are more important than pay raises. There are several benefits options you can offer to attract and retain employees, including deferred compensation plans.
Read More A Look at Deferred Compensation PlansWhat Is Severance Pay?
At some point, you might have to terminate an employee. You might eliminate their position, make layoffs, fire for misconduct, or mutually part ways. No matter the reason, you might consider giving the employee severance pay. But what is severance pay? Before you make a decision about severance pay, learn more about it, what you […]
Read More What Is Severance Pay?Commission Employees and Overtime Rules
To protect employee rights, the Fair Labor Standards Act (FLSA) regulates overtime. But, some employees are exempt from receiving overtime pay. If you offer commission pay to employees, you might be wondering if they are exempt from overtime. What are your responsibilities when it comes to commission employees and overtime?
Read More Commission Employees and Overtime RulesWhat Is Piecework Pay?
There are various methods to compensate employees, including hourly, salary, and commission pay. But, are you familiar with piecework pay? Learn more about what is piecework, piecework laws to follow, and how to calculate piecework pay.
Read More What Is Piecework Pay?