The best kept secret these days – the proposed changes to the Fair Labor Standards Act. If you are a business owner or work in human resources and are unfamiliar with these changes – stop everything. It is not to late, but the clock is ticking.
As early as this summer, employees who are presently paid a salary and considered exempt under the FLSA may need to be reclassified as non-exempt, hourly employees entitled to overtime compensation. Right now, an employee making $455 per week, or $23,660 per year, can qualify as exempt, that is, not entitled to overtime compensation. One proposed change would require an employee to make $970 per week, or $50,440 annually, to be exempt from overtime pay. And this is not the only anticipated change . . . .
If you own or operate a business or work in human resources, then you will have 60 days from the date the proposed rule becomes effective to comply with any FLSA changes. Good news – we have the advantage of looking to the proposed rules to anticipate what the final outcome will be. Employers must use this opportunity and time wisely.
Join me on April 26, 2016 – Networking (7:30 a.m.) and Presentation and Q & A (8:00 a.m.- 9:00 a.m.) – at the Drury Plaza Hotel, 1874 McEwen Dr., Franklin, Tennessee to learn about “The What, The When, and the How-To Comply” as it pertains to these proposed changes to the FLSA. To register for this complimentary presentation, please send an email to [email protected].