01 May Compensation Structure – May 2022 Tutorial
May’s free MBTN tutorial is HR3: Compensation Structure. This month’s tutorial covers some basic compensation information that all small businesspeople should know before hiring their first employee. You may read through the content, try out the sample problems, and hopefully, learn a thing or two about the US laws regarding compensation, including:
- What is the Legal Difference between Salaried and Hourly Employees?
- What does Exempt and Non-Exempt Status Mean?
- How to Calculate Overtime and Sick Time Compensation for Different Employee Categories
- The Definitions of Commissions, Tips, Bonuses, and Draw
- The Fair Labor Standards Act (FLSA)
Remember, our modules also include problem sets to give you additional practice and feedback about these concepts.
Although the link has expired, look for this month’s tutorial on our blog and you may find the following additional resources helpful for covering other HR and business topics: