Overtime can carry an organization through treacherous times, or hasten its descent into the red. The difference is a matter of strategy.
Thanks to Astronology® reader Milvana Grzan, of Memorial Sloan-Kettering Cancer Center, New York, NY, for providing this issue’s topic. Ms. Grzan asks how an organization can provide extra compensation to exempt staff without violating the Fair Labor Standards Act (FLSA).
Although the economy appears to be unsettled with unemployment moving towards the 6% mark, there is an increasing reliance on temporary employees to meet production and service needs.
A well-planned incentive compensation program contributes to organizational competitiveness by encouraging superior performance and, ultimately, improving organizational earnings and cash flow.
Despite reading of one layoff after another in the United States, and continued talk of recession, recruitment and retention of entry-level, hourly employees is still a concern.