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The summer is quickly closing in and leaving employers with three (3) months to address how they are going to implement the New Overtime Rule and Regulations. Please see the article below to provide you with more information to prepare.
Feel free to contact HRA to explore the best practice for your company and to implement by December 1, 2016.
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(Dec 1, 2016)
Are you ready for the New DOL Overtime Rule?
The final rule was signed on May 18, 2016. If you are wondering whether or not you are a covered FLSA employer more than likely "yes."
Under FLSA the defined covered employer is basically any business with annual sales of $500K or greater,
or who are engaged in interstate commerce.
The term under FLSA "Interstate Commerce" is board and can simply mean mailing and receiving items from other states, using company telephones, or
computers to place or accept interstate
business calls or orders.
Employers are to review current employees that are classified as exempt (White Collar), and Highly Compensated Employee status. Such as:
*Executive,
*Administrative, and;
*Professional
to ensure that there are no misclassifications, and to determine if the projected salary
threshold of $913 per week, or $47,476 annually will be met. For Highly Compensated the new threshold of $134,004 annually. The salary thresholds are expected to increase every three years. In addition, the new rule will allow employers to use non-discretionary bonuses/incentives "including commission" to meet up to 10% of the new standard salary level.
****HRA is currently providing on-site services to assist employers in assessing their current staff classifications to ensure compliance, determine who falls under those identified to raise to the new salary threshold ($47,476), or to re-classify as non-exempt. In addition, we provide recommendations on most the most suitable strategy for your company to address and communicate with managers and staff.
Call today to schedule your on-site assessment.
417-894-3667.
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Term for Cause vs. Elimination
We have found that most commonly an employer's main reason is due to lack of proper documentation and direct discussion with the employee with performance issues. Therefore, the employer reaches the end of their patience and elects to eliminate the position costing the company thousands in severance, vacation payout, COBRA cost, and a raise their unemployment tax. We realize that there cases where this may be the best course of action, however want to encourage a closer look at costs over time and training with management on counseling, documentation and exit strategies.
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EEO-1 Report
DUE: September 30th
(for employers with 100+ employees)
The EEO-1 is an annual survey that requires all private employers with 100 or more employees and federal government contractors or first-tier subcontractors with 50 or more employees and a contract/subcontract of $50,000 or more to file the EEO-1 report. The filing of the EEO-1 report is not voluntary and is required by federal law
. The annual filing deadline is Sept. 30.
For any questions please click here to read more about the EEO-1.
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