[blockquote]
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On 12/6/2002 5:25:38 PM RV4 wrote:
The first concession should be a change in Flex Vacation Policy.
Employees are allowed to "purchase" a week of vacation at their current payrate, and then many receive pay increases before they actually take the time off. This results in employees receiving more pay in compensation than they have had deducted via payroll.
AA should audit the payroll records and recover the extra money that has been paid to employees.
Example:
Employee X in 1993 was making $13.50 per hour during Flex enrollment period and chose to purchase 5 days vacation.
$13.50 X 40 Hours Pay = $540.00
In March 1994, before Flex Vacation was used, employee recieved pay increase of $4.28 which raised hourly rate to $18.30 per hour. Employee was compensated for time off as follows:
$18.30 X 40 Hours Pay = $732.00
$732.00 paid - $540.00 Collected equals a deficit of $192.00
Only a mismanaged company would allow employees to purchase time off at a payrate considerably less than the actual cost!
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[/blockquote]
I agree completly! I made out like a bandit with the flex. I once purchased Flex Vacation $6.00 an hour cheaper than what I actually got. It feels good to be the one getting the gravy though!
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On 12/6/2002 5:25:38 PM RV4 wrote:
The first concession should be a change in Flex Vacation Policy.
Employees are allowed to "purchase" a week of vacation at their current payrate, and then many receive pay increases before they actually take the time off. This results in employees receiving more pay in compensation than they have had deducted via payroll.
AA should audit the payroll records and recover the extra money that has been paid to employees.
Example:
Employee X in 1993 was making $13.50 per hour during Flex enrollment period and chose to purchase 5 days vacation.
$13.50 X 40 Hours Pay = $540.00
In March 1994, before Flex Vacation was used, employee recieved pay increase of $4.28 which raised hourly rate to $18.30 per hour. Employee was compensated for time off as follows:
$18.30 X 40 Hours Pay = $732.00
$732.00 paid - $540.00 Collected equals a deficit of $192.00
Only a mismanaged company would allow employees to purchase time off at a payrate considerably less than the actual cost!
----------------
[/blockquote]
I agree completly! I made out like a bandit with the flex. I once purchased Flex Vacation $6.00 an hour cheaper than what I actually got. It feels good to be the one getting the gravy though!