The U.S. Department of Labor (DOL) has issued two final rules that affect overtime compensation under the Fair Labor Standards Act (“FLSA”).
On January 1, 2020, the Department’s final rule expanding overtime eligibility took effect which increases the salary threshold required to exempt executive, administrative, or professional employees from the FLSA’s minimum wage and overtime pay requirements.
On January 15, 2020, the DOL’s final rule on calculating an employee’s regular rate of pay takes effect.
Join our informational webinar to explore the immediate and longer-term effects of these two new regulations on your compensation policies and practices.
We will answer these critical questions and more:
- What are the two new DOL final rules and how do they affect your business?
- Which employees are impacted?
- What does “Exempt” really mean?
- What are the effects on your calculation and payment of wages?
- What potential pitfalls should you avoid?
- The effects of the increased salary threshold for exemption
- How employers can use non-discretionary bonuses and incentive payments to satisfy up to 10 percent of the standard salary threshold
- How to audit your Exempt employees who may be impacted by the new rules
- How to ensure proper timekeeping measures are being taken by your organization in order to be compliant
- How to adjust your employees’ compensation to be compliant
- The 3 best ways to communicate any changes to your affected employees
- Review your hiring practices and overall compensation strategy to ensure future compliance
- Discover what the effects might be on “Pay Equity”