Courtesy of our colleagues Merrili Escue and Nancy Kawano.
In part one of this two-part post, we told you that cutting the wrong corners, by deferring the payment of wages until the company has cash, or misclassifying employees as exempt (and therefore not paying overtime) or as independent contractors (failing to pay employment taxes, or satisfy wage and hour requirements) can be potentially disastrous. Our goal was not to traumatize you, but to inspire preventive action.
Today, in part two of our post, we provide additional crucial tips on how to avoid costly mistakes through proper documentation and record keeping before, during and after the employment relationship that will prevent or lessen the potential for costly disputes. Being able to avoid these issues will save time in the long run and give you an advantage over your less knowledgeable competitors.
Continue Reading Costly employment mistakes emerging companies should avoid, part 2: documentation and record keeping