The DOL Overtime Regulations has now passed!
DOL's New Overtime Rule: Effective in 2020. Began January 1, 2020, Employers will have to comply with a new overtime rule, estimated to affect 1.3 million workers. The new rule requires that exempt salaried employees must be paid at least $684 per week, or $35,568 annually.
The regulation increases the total annual compensation requirement for “highly compensated employees” (HCE) from the currently enforced level of $100,000 to $107,414 per year.
Allowing employers to use nondiscretionary bonuses and incentive payments (including commissions) that are paid annually or more frequently to satisfy up to 10 percent of the standard salary level.
This new federal overtime regulation that could make over a million more Americans eligible for overtime—which might mean a steep hike in costs for employers. This will be effective in 2020 but Employers must be ready to be compliant now. It is critical to prepare now for this regulation which could take the form of changing employee status from Exempt to Non-Exempt which can impact staff morale and confusion. Ensure that a communication plan be in place before changes are made.
• Learn how to mitigate the overtime regulation
• Learn how to prepare to be compliant with Overtime changes
• Learn how to communicate changes to employees
• Learn what constitutes violations
• Learn how to conduct an internal audit to ensure compliance
• What does the DOL have planned to ensure compliance with the new overtime regulations?
• What states have different overtime regulations?
• How is it different from the previous overtime regulations?
• Learn how the DOL new Violation focus is Off the Clock work as part of their new initiative.
• How can Employers mitigate the new regulations if their budget is impacted?
• What companies are impacted by the changes?
• How are Non-Exempt employees impacted by the change?
• Is the new ruling expected to change the DOL definitions?
• What does the DOL New Ruling change the Highly compensated employees?
• What changes do Employers need to prepare before the new ruling is effective?
• How can Employers communicate the changes to employees?
• What financial impact will Employers have when changes are made?
• Penalties and Fines if ruling is violated.
Who will benefit?
• Senior Management
• HR Managers & Generalists
• Managers & Supervisors
• Compensation & Payroll Professionals
• Operations Professionals
• Human Resources professionals
• Compliance professionals
• Business owners
• Professionals who handle employee relations issues
Margie Faulk is a senior level human resources professional with over 15 years of HR management and compliance experience. A current Compliance Advisor for HR Compliance Solutions, LLC, Margie, has worked as an HR Compliance advisor for major corporations and small businesses in the small, large, private, public and Non-profit sectors. Margie has provided small to large businesses with risk management strategies that protect companies and reduces potential workplace fines and penalties from violation of employment regulations. Margie is bilingual (Spanish) fluent and Bi-cultural.Margie’s area of expertise includes Criminal Background Screening Policies and auditing, I-9 document correction and storage compliance, …