Quote Quoting jk
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That’s how it works with the dozen or so salaried non-exempt employees where I work

and they all exceed the pay threshold and they might all actually meet the exempt classification requirements to be treated as exempt...

but they are not treated as exempt even if they could be. They also punch a time clock and are held very tightly to their 42.5 hour week schedule with an occasional tolerance of extending a holiday weekend by a day.

Im not sure I see a benefit to the employer but that’s how they do things where I work.
Budget consistency can be a benefit.