VI. Compensation Policy

This section is designed to give guidelines and hopefully answer many questions about compensation.

PAY PERIODS:

Carter & Carter, LLC employees are paid on a bi-weekly pay cycle, or twenty-six (26) times a year.

Carter & Carter pay periods run from Saturday to Friday, covering two (2) weeks work and employee paychecks are issued on the last day of the pay period. Discuss with your supervisor the specifics on receiving your pay check.

All normal withholding and deductions required by law or authorized by the employee will be made.

PAY DISCREPANCIES:

Please report immediately to the Accounting Manager any error detected in your paycheck so that corrective action can be initiated. Any reported incorrect payroll check will be adjusted immediately or within the next pay period.

OVERTIME:

It is Company policy that all work subject to deadlines, due dates, etc., must be completed on time. Under extraordinary circumstances, if it is necessary to work beyond normal business hours, the employee is required to obtain advanced approval in writing from a Supervisor or Department Head, in order for the overtime to be considered payable. Overtime payment is available only to Non-exempt employees; discuss with your supervisor your specific exemption status.

SALARY ADVANCES:

Salary advances are not encouraged; however, an employee needing to request one should initiate the request, to his/her supervisor. The requests will be reviewed and considered on a case by case basis. If approved, the employee will be asked to sign an authorization allowing the advance amount to be deducted from his/her next paycheck (or final paycheck) if it is not paid back before then.

ANNUAL REVIEW:

All employees’ performances will be reviewed at least annually. However, the Company reserves the right to give performance evaluations as frequently as it deems necessary.

Supervisors and employees are strongly encouraged to discuss job performance and goals on an informal, day-to-day basis. The annual formal performance reviews are conducted to provide both supervisors and employees the opportunity to discuss job tasks, identify and correct weaknesses, encourage and recognize strengths and discuss positive, purposeful approaches for meeting goals.
Based on employee performance and the financial health of the Company, a salary adjustment may be made. The President makes the final decisions on all salary adjustments.

WORKER’S COMPENSATION INSURANCE:

The employer provides a comprehensive workers’ compensation insurance program at no cost to employees. Worker’s Compensation is provided to cover medical, surgical, or hospital treatment and time-loss resulting from work related injuries and/or illnesses.
Any employee who sustains a work-related injury or illness should inform his/her supervisor immediately. No matter how minor an on-the-job injury may appear, it is important that it be reported for coverage as quickly as possible.

Neither the employer nor the insurance carrier will be liable for the payment of workers’ compensation benefits for injuries that occur during an employee’s voluntary participation in any off-duty recreational, social, or athletic activity sponsored by the employer.

PURCHASES:

Necessary purchases of goods and services made on behalf of the Company over $100 must be approved by your supervisor in advance. Since most purchases are small, please contact your supervisor to arrange for funds in advance of purchase. A paid receipt will be required by the Accounting Manager for reimbursement.