Paid time off can generally be broken up into two systems; Traditional PTO and Bank-Type PTO. Within each system, specific categories can be measured or accrued differently.
When it comes to accruing time off from work, there are two different methodologies that your employer can choose. Hourly Accrual One way to accrue paid time off is by the number of hours worked. This means that for each hour worked the employee earns a specific amount of paid time off. Based on an […]
Over the course of the last few weeks, we’ve spent some time highlighting the most salient aspects of the Affordable Care Act (ACA) as they relate to business. Whether your business is in manufacturing or hospitality, healthcare or business services, if your company has at least 50 full-time equivalent employees, then you need to be prepared to […]
If your US-based company has more than 50 full time employees, then you know you’ll be providing healthcare coverage to all employees who work 30 or more hours each week. It sounds easy enough, but for workforces that fluctuate (whether it’s seasonally or by some other demand), how can you quickly and accurately determine which […]
Are you prepared for the ACA? Explore this infographic to easily navigate the ACA and determine if your employee is a seasonal employee.
When it comes to navigating the Affordable Care Act, defining your employees early on can save your business from possible penalties due to insufficient records and lack of proof of number of full time employees. Prepare yourself for the ACA by identifying the types of employees in your business. 1. Full-Time Employee A full-time employee […]
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Featured Topic: What's Unique About stratustime?
For many professionals, the phrase “cloud-based computing” has become synonymous with business-as-usual, and the promises that come with the cloud, such as rapid deployment, faster services, and greater connectivity, are baked into many modern work environments. However, less than a decade ago, the concept of the cloud was still new and fairly novel for many […]
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Do you remember the proposed overtime changes to the Fair Labor Standards Act (FLSA) in 2016? Once in effect, the rule was predicted to extend overtime protections to 4.2 million workers who were not previously eligible under federal law. Plenty of workers were excited about the changes, while many companies were a little concerned. And one sector that […]
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Between the country’s economic growth and the record low unemployment rate of 4.1%, times are looking good for many companies and workers. Now wages are starting to nudge upwards too. According to recent Bureau of Labor Statistics data, average hourly earnings moved up nearly 3% from a year ago. This means that more money is […]
Read More >How stratustime Works
stratustime tracks employee hours through PCs, mobile devices, and POS systems, then automatically transmits time and attendance data to your payroll service. Advanced features like scheduling, PTO accrual, and labor forecasting give HR managers and payroll specialists more time to focus on people instead of data entry.