Hourly to Salary refers to the process of converting an employee’s hourly pay rate into a fixed salary, often adjusting for overtime and benefits, to transition to a salaried role.
- What is hourly to salary?
Answer: It is converting an hourly pay rate into a fixed salary. - How is the conversion done?
Answer: It multiplies the hourly rate by average hours, adjusting for overtime if applicable. - What are the benefits for employees?
Answer: It may offer stability and potential benefits. - What are the implications for overtime?
Answer: Salaried employees may lose overtime eligibility if exempt. - How does HR facilitate this?
Answer: HR reviews job duties and ensures FLSA compliance.
