On May 18th the Department of Labor announced the much anticipated changes to regulations within the Fair Labor Standards Act (FLSA), which essentially governs rules surrounding compensation, including when employees are eligible for overtime. The new changes that will impact all businesses as of December 1st of this year relate to the salary threshold for employees to keep their exempt (salary) status.
Department of Labor doubled the salary threshold for employees to qualify as exempt (not entitled to overtime) from $23,000 to more than $47,000 a year. All employers must comply by December 1, 2016. Here’s a great resource. Guidance for Employers FLSA OT Rule Changes
And one of our HR consultant colleagues Heidi Johnson @ Investment HR wrote a great article on the new rules. Here’s the article. Contact your HR expert today to have them help you be prepared.
