The research shows that employees might want to think twice before accepting that big promotion.
The promotion is reportedly a phony attempt to save more than $4 billion in overtime payments each year, a study conducted by economists at Harvard University and the University of Texas-Dallas said.that says businesses are not required to pay overtime to salaried managers who make more than $455 per week or $23,660 per year. The economists found that employers are using “fake managerial titles and future DOL compliance actions” to avoid potential labor law violations.
Employers have now begun to take a “systematic” and “robust” stance on increasing misleading managerial titles, according to the study, which suggestsThe researchers found that the bogus manager positions were more prevalent in states and companies where the workers were paid a, and had fewer rights, such as in the retail, food, and drink industries. By promoting workers to managerial positions, the researchers estimated that the companies are pocketing approximately 13.5% in overtime payments.
However, the study states the findings may just be the beginning of a bigger problem and that overtime avoidance is also likely to occur at higher levels in the company, but are more difficult to trace.“It’s not just one kind of firm or just some random small institutions that are doing this. These are the biggest firms that are doing this and doing this again and again,” Cohen told
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