When it comes to payroll, one of the most common compliance issues is the incorrect calculation of Regular Rate of Pay.
Payroll fraud and its prevention should be a significant concern for organizations because a single instance of fraud can average up to $70,000 and are often over three years. Additionally, small businesses are about twice as likely to experience payroll fraud as companies with more than 100 employees.
Timesheets are a necessary part of the American payroll system. But often employees sometimes will do anything but complete their timesheets.
Remember two years ago when everyone in HR, the government, and organizational leadership was up in arms about the changes to overtime rules and the punishments the Department of Labor (DOL) could dole out? Then with the changing of presidents the proposed changes to thresholds and testing requirements never happened.
And everyone moved on and forgot about how important it is to pay attention to regulations that are in place about employee overtime.
Well not everyone.
I recently caught up watching Game of Thrones. Most everyone knows that the HBO show Game of Thrones, based on a series of books by George R.R. Martin, follows a multitude of story lines across the fictional continents of Westeros and Essos. It's a world with dragons, beheadings, and exciting and yes, bizarre story lines. So how am I going to connect Game of Thrones to the payroll world?