By now most everyone is aware of the Department of Labor's new overtime regulations. Effective December 1, 2016 the minimum salary necessary for exempt status in the so-called "white collar" positions (executive, administrative and professional), increases drastically from $23,660 to $47,476, or $913 per week. Any white collar employee currently exempt from overtime pay, must be paid 1 ½ times his or her "regular rate of pay" if their salary does not meet this new minimum as of the 1st of December. For employers, the impact of the DOL's new rule and the many issues and decisions it presents - some with significant consequences to their bottom line - should not be ignored or underestimated. Those that fail to address the many nuances and details of this fast approaching change to their wage and hour practices, may encounter serious problems, as well as lost opportunities, even before the end of the year.
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