Wage & Hours Panel Review
Paying your team members has never been more complicated, especially for the multi-unit business that spans multiple state lines. From paystub and piece-rate regulations to minimum wage increases, ISBN members discussed what’s happening in their businesses and how they are adapting their businesses.
This webinar moderated by Sandra Anderson, Chief Legal Officer at Great Clips, Inc and Kari Steen, Human Resource Director at Great Clips, Inc spent time covering issues applying pressure to the salon and spa business and the strategies that the panelists were using to navigate their way towards compliance.
In addition to the core questions asked during the panel, there were additional questions posed to the panelists to which they gave additional information. Add your comments below!
Q: How are wage and hour regulations impacting your total compensation package for employees today that is different than even 5 years ago?
Rainer Hoeglemeir: Payroll has been rising rapidly for the last few years because of minimum wage forcing us to implement constant price increases on the consumer side as well.
Chris Mitchell: Taxes on tips is becoming a bigger issue compared with 5 years ago. Minimum wage regulations may have a bigger impact in the future but not yet.
Q: Have you updated any recruiting or employee material to reflect the changes?
Rainer Hoeglemeir: We are more focused on making potential employees aware of all the benefits of working in our organization. We offer 401k, PTO, as well as Health insurance contribution. Our salons are known for the great educational programs we offer.
Chris Mitchell: No, where possible we try to keep the written materials generic enough that we’re not constantly having to update them.
Q: Where are you seeking clarity or guidance to ensure you remain compliant with ever changing wage and hour regulations?
Rainer Hoeglemeir:We utilize an incredible payroll service that makes sure we are in compliance with every aspect of employment laws and regulations. As a matter of fact, technically our employees are “leased” to us which means the payroll company assumes all liabilities provided we follow their guidelines.
Chris Mitchell: Our CPA’s / attorneys plus general business reading.