HR Policies

Employment-related Terms

Employee classification can be confusing, but it’s necessary to know these terms when reading HR policies. In theory, any given position may have any permutation of the following categories; however, at Cadence OneFive, the most common situations are:

• Exempt permanent full-time employees

• Non-exempt temporary part-time hourly employees (e.g. interns)

Exempt vs. Non-Exempt

These terms relate to overtime pay and minimum wage requirements.

An exempt employee is an employee who is exempt from overtime pay and/or the minimum wage. Exempt employees are paid a fixed salary. .

Non-exempt employees must receive at least the minimum wage under applicable law for all hours worked and are entitled to overtime pay. Under applicable law, when a non-exempt employee works more than 40 hours in a workweek, they are entitled to overtime compensation equaling 1.5 times the employee’s regular rate of pay.

Full-Time vs. Part-Time

These terms relate primarily to benefits eligibility.

Full-time employees work 30 or more hours per week and are entitled to health benefits under the Affordable Care Act. Part-time employees work fewer than 30 hours.

Permanent vs. Temporary

Most Cadence OneFive employees are permanent employees who do not have a predetermined end date for their employment. Temporary employees have predetermined end dates for their employment (e.g. interns).

Salaried vs. Hourly

Salaried employees receive a fixed pay per pay period, regardless of the hours worked. Hourly employees’ are paid for all hours worked based on an hourly rate.