Tick Tick Tick

I have spoken up about the importance of time tracking and good record keeping. I came accross this from a reliable resource and wanted to post it. These are not my words, but I don't think I could say it better myself:

Timekeeping & Payroll Recordkeeping: Legal Compliance for 2017

It's never been more important for you to track employees' time correctly and keep accurate records of those hours and minutes. Why?

  1.  Employee wage-and-hour lawsuits have exploded nationwide, fueled by new rules and bad recordkeeping.
  2. While a higher salary threshold is still frozen in the courts, it could create millions of new overtime-eligible workers – and millions of new potential claims.
  3. Even if the new overtime rules are shelved, your employees' interest level in their status (exempt vs. nonexempt, employee vs. independent contractor) has been raised … expect even more inquires and lawsuits challenging your classification decisions.
  4. A 2016 U.S. Supreme Court ruling gives you fresh incentive to keep immaculate time records (employees can now use "sampling" to justify timekeeping lawsuits).
  5. The outgoing Obama administration poured millions of additional DOL budget dollars into increased wage-and-hour enforcement, which means beefed-up workplace scrutiny. And there's no indication that the Trump administration will rescind these enforcement initiatives.
  6. The IRS got more money, too – and it hired 700 new enforcement agents who will mostly be tasked with payroll audits. Why? Because that's where the easy money is!