Tag: salary

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Employment Laws: Part Two

employment laws

To continue our Employee Handbook series, this week we cover wage laws and drug testing. Before we jump into employment laws, read on for upcoming AQR Academy events.

AQR Summer Camp

There’s still time to register for AQR Summer Camp! For a limited time, $100 gets you access to the next three AQR Academy Workshops. See below for details:

  • June 7th 3:00 p.m. — 4:30 p.m. CT: Tips and Tricks for Stress Free Payroll Processing
  • July 25 10:30 a.m. — 12:00 p.m. CT: Do Your Best Work: Take Back Control of Your Calendar
  • August 9 4:00 p.m. — 5:30 p.m. CT: Your Employee Handbook: The What, Why, How and Who

Last but not least, if you feel like you missed out from the previous AQR Academy LIVE event, you’re in luck. AQR Academy LIVE is coming back Fall 2022 in Des Moines, Iowa from September 27 — 29. Simply email info@americanquiltretailer.com with “Add me to the list” in the subject line and we will contact you as soon as registration opens!

Wage and Drug Testing Laws

Employment laws are constantly changing.

This year 21 states and 26 cities changed their minimum-wage rates. This means that the minimum salary an employee can earn to be overtime exempt automatically increased as well. You can check out a handy Minimum Wage Monitor for your location here.

Other pieces to take into consideration include the number of consecutive days an employee can work, break periods, meal breaks, and more. But the most important thing to keep in mind is your employee handbook can help explain why some employees qualify for overtime while others do not.

Drug testing on the other hand is more of a gray area. Medical marijuana is still illegal in 37 states, but until there are federal guidelines, employers are subject to state law.

This week was part two of Employee Handbook obligations. Stay tuned next week where we’ll cover handbook disclaimers.

Inspiration for this post came from “Employee Handbook 2.0: Aligning Your Policies With Employment Laws,” by Melisa Morrison, published in the April 2022 issue of American Quilt Retailer.

If you’re looking for more information to guide you in owning a retail business, subscribe to American Quilt Retailer today. Already a subscriber? No worries—join our Facebook group for insights and dialogue from industry specialists like you. And don’t forget, you can always purchase single issues if you prefer that instead.

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Decrease Your Expenses

Cut Expenses

One of the ways you can make more money is to decrease your expenses. Check out some of the questions to ask yourself below.

Questions to ask

Make a list of all the expenses you make on your business credit card and separate them into categories. Evaluate which expenses you should keep, and if you’re struggling, these questions should help.

  • Is this a service or product that I am utilizing every month?
  • Does an annual subscription make more sense? Often times, annual subscriptions save two months of the cost.
  • Does it make sense to pay for this level of service? Look into free or cheaper alternatives.
  • Can I cancel the service? Do I use it anymore?

Other ways to cut expenses

If you justify some expenses by saying “it’s only $25 a month!” remember that comes out to $300 a year.

One way to cut expenses is by salaries. We all agree employees should be paid living wages with appropriate benefits, but are your staffing assumptions based on old data? As business models change, some skill sets can be adjusted or moved to better fit your customer’s buying behavior.

Another way is through rent. Rent is likely the highest expense your business currently makes. How much do you earn per square foot? Can another smaller location fill your business’s needs? If customers are paying for parking, moving to a place that allows for free parking is a great idea as well.

Inspiration for this post came from “Make More Money,” by Gwen Bortner published in the June 2021 issue of American Quilt Retailer.

If you’re looking for more information to guide you in owning a retail business, subscribe to American Quilt Retailer today. Already a subscriber? No worries—join our Facebook group for insights and dialogue from industry specialists like you. And don’t forget, you can always purchase single issues if you prefer that instead.