Coming Soon - New Minimum Salary Levels for Exempt Employees, Are You Ready?
Recorded: Access recorded version, only for one participant unlimited viewing for 6 months ( Access information will be emailed 24 hours after the completion of live webinar)
Corporate Recorded: Access recorded version, Any number of participants unlimited viewing for 6 months ( Access information will be emailed 24 hours after the completion of live webinar)
The Department of Labor recently released its long awaited proposal to increase the minimum salary to qualify for exempt status from $684 per week to $1,059 per week or from $35,568 to $55,068 annually. These changes have not become law yet, but something close to it will soon. It is now time for organizations to plan for these changes.
The Fair Labor Standards Act (FLSA) is one of the most misunderstood employment laws in the country. Basically, it governs the payment of wages and who must be paid overtime. To make things more confusing, the Department of Labor has implemented a number of exemptions to the requirement to pay overtime such as the White-Collar Exemptions and the 7(i) exemption for retail and service establishments. The DOL also allows different ways of computing overtime pay.
Alaska, California, Colorado, Maine, New York and Washington have developed their own rules that are different from Federal Law. Thirty-three states have implemented minimum wages that are higher than the Federal Minimum wage of $7.25 per hour. In addition, many municipalities have their own minimum wage laws.
Many organizations do not understand their responsibilities with regard to what types of positions qualify as white-collar exemptions, how to handle commissions, shift differential and production bonuses for hourly employees, and other nuances of complying such as handling training and travel time.
The FLSA is a Federal Law, but employers must know that many states, municipalities, and any type of governmental contract may have their own rules regarding minimum wage and overtime.
Maintaining compliance is critical to your business. Failing to do so can cost hundreds of thousands of dollars.
Why should you Attend:
After going through this webinar, participants will know:
- Gain an understanding of the provisions of the Fair Labor Standards Act
- Know the White-Collar Exemptions and how they are determined
- Determining other exemptions and overtime calculations
- Correctly calculating overtime pay for employees who receive commissions, production bonuses and shift differential
- Know the minimum wage in areas in which your organization operates
- When to pay for training, travel time, meal breaks or employees on-call
- Get an update on various State Regulations
Areas Covered in the Session:
- The Primary Provisions of the Federal Labor Standards Act
- Tests to Determine if a Position Qualifies for a White Collar Exemption
- Review of the Proposal Released by the Wage and Hour Division of the Department of Labor
- Other Exemptions Your Organization May Want to Consider
- Computing overtime pay for multiple pay rates
- Treatment of Meal Breaks, Travel, Training and Time Spent On-Call
- Minimum Wage Requirements by State and Contract
- Recordkeeping and Posting Requirements
- What’s Going to Get You in Trouble?
- Action Items
Who Will Benefit:
- Human Resources Professionals
- HR Managers
- HR Administrator
- HR Staff
- Small Business Owners
- Non-Profit Administrators
- General Managers
- Office Managers
- Payroll Professionals