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On May 18, 2016, the U.S. Department of Labor announced its long-anticipated changes to rules which will impact nearly every U.S. employer by amending the white collar executive, administrative and professional) overtime exemptions to, among other things, essentially double the current salary threshold and fundamentally alter how businesses approach pay and overtime for their employees.
In a nutshell, the new rules mean millions of currently-exempt employees will soon be entitled to overtime regardless of their job duties. These regulations go into effect on December 1, 2016. At which time, employees who are considered “salaried” and therefore exempt from the Fair Labor Standards Act's (FLSA) minimum wage and overtime requirements must earn a guaranteed minimum salary of at least $913/week ($47,476/year) in order to be treated as such. This new threshold is approximately double that of the current minimum salary requirement of $455/week ($23,660/year), which has been in effect for 12 years. Although not talked about much in the media, the regulations also significantly increase the threshold for the highly compensated employee exemption.
For many organizations, this means devising new strategies, modeling various scenarios to make the right decisions and, ultimately, making sure
they are in compliance with this update. One thing is for sure: Failure to comply is simply not an option. For example, FLSA lawsuits have increased 400 percent in the last 15 years, and FLSA violations have been found in 79 percent of agency-initiated investigations. Non-compliance can be financially devastating in terms of fines, penalties and employee lawsuits – and can tarnish an organization's reputation. With FLSA scrutiny and consequences at an all time high, organizations must start planning to comply with these changes now.
Why should you Attend:
Areas Covered in the Session:
- Fully understand the new rules and their impact
- Consider the best strategies for complying with these changes
- Understand how to calculate our total costs for each scenario?
- Determine the changes needed to our data and systems to make the right decisions
- Ensure supervisors make sure part-timers don't exceed thresholds
- Design the reports needed to prove compliance
- Understand the of not delivering optimum service to our customers
Who Will Benefit:
- The new salary threshold
- The new highly compensated employee threshold
- How to evaluate the impact of these changes
- Other exemptions that might apply
- Converting to non-exempt status and complications that may arise
- Alternative pay structures to consider
- HR Professionals/ Managers
- Compensation Benefit Officers
- Employers/Business Owners
- CEOs, CFOs
- Accounting Personnel
- Payroll Officers
Cathleen M. Hampton As a professional consultant with over 25 years of HR experience to include extensive government contracting, Ms. Hampton has been responsible for planning, developing and executing a comprehensive HR strategy in support of many client companies. Her responsibilities have included the need to evaluate complex issues, identifying options for resolving problems, and implementing comprehensive program solutions.
Ms. Hampton is a dynamic leader who has been instrumental in growing RCH Resources into a much respected HR Services organization. She oversees diverse engagements where she partners with her clients to develop strategies using the most up-to-date and sound industry trends and practices.