overtime regulations are changing—are you ready?
TRANSCRIPT
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How will the FLSA Changes Affect You?
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You may not have heard but the FLSA is changing the rules effective
December 1st 2016… Such fun!
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What do you mean you don’t know what the
rules are to begin with?
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So what’s the change?
Why don’t you take a seat…
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There are a few, but the one we need you to focus on is the new
wage threshold.
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You may currently have a number of employees who are exempt
(salaried) for a variety of reasons… however once the new rule goes
into effect any employee who earns less than $47,476 annually, or $913 per week, will be considered non-
exempt (hourly) regardless of other factors!
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Think of it this way…
One employee working 50 hours a
week who becomes a non-exempt
employee will see a pay increase of
37.5%That’s (40 hours + (10 hours x 1.5 [which is the overtime rate] = 15) = 55 hours
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If that person was earning $45,000…
A 37.5% increase over the course of a
year will cost you
$16,875
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Now don’t overreact!
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Go to your happy place…
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The 1st thing you need to do is determine how many of your employees will be effected.
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Then find out how far below $47,476 they are as well as how much overtime they usually work.
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THINK strategically…
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It may be better to consider a raise rather than overtime…
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Just remember you have to be consistent within job categories…
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The 2nd thing you will need to do is make sure you are set up to track time…
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You will need to account for all
time worked by
all of your non-exempt employees.
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Without making people feel like they just got dropped
here
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And, finally how will you communicate these changes
to your team?
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We know you can handle this change…
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But if you feel like you could use
some assistance…
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We’re here to help
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Because we don’t ever want you to run afoul of the DOL for something like
this
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If the paperwork is piling up…
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Shoot us an e-mail at [email protected]!
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We’ll review each of your position
descriptions to determine whether
you have each position properly
classified under FLSA (a really good idea,
even before the regulation changes).
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Create a current market data report for each position.
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Examine your timekeeping practices, because hourly
employees have to track their time to ensure they’re compliant.
(and help you fix them if you’re not)
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Help you create safeguards to limit your legal exposure
(i.e. strategies to keep your overtime in check).
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And help you create a communication plan to introduce
the changes
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You don’t have to go it
alone…