In Pursuit of Profit
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The considerable time required to fix payroll mistakes is a significant penalty for any company to pay when an error occurs. Then, when you figure in the added cost of reduced employee satisfaction, which in turn can lead to turnover or hamper future hiring efforts, the cost of experiencing payroll problems becomes even steeper.
Recent changes to Oregon state law have made payroll management more complicated, requiring a broader awareness of how these changes will affect employee compensation in the coming months. Medical leave provisions, increased pregnancy protections, pay equity fixes, and retirement plan contributions have all been amended in Oregon for 2020. These legislative changes make accurate calculations and withholdings more crucial than ever before to avoid needing to pay back owed wages, delinquent taxes, and incurred penalties.
Major legislation that affects payroll and staffing in Washington state has been passed recently. Some of the new laws already rolled on January 1, 2020, while others will go into effect later this year. Legislation that spans changes to the minimum wage and exempt employee criteria, clarification of job duties, and issuance of paid family medical leave will add new complexities to HR functions and payroll calculations. These changes will affect operations across businesses of all sizes and compensation for a significant segment of the working population as well.