Understanding the DOL's Proposed Overtime Salary Changes: What Employers Need to Know

Overview:

On August 30, 2023, the U.S. Department of Labor (DOL) issued a significant proposal that could change pay practices across the country. The proposal aims to increase the exempt salary threshold from $684 per week to $1,059 per week, which translates to an annual salary of $55,068. If enacted, an estimated 3.6 million U.S. workers would become eligible for overtime pay. Although this is still in the proposal stage, the DOL is expected to move swiftly, warranting immediate preparation on the part of employers.

The proposal also includes increasing the annual compensation requirement for highly compensated employees to $143,988 and outlines an automatic update provision for future salary thresholds. Notably, no changes to the FLSA's "duties test" are being proposed. Once published in the Federal Register, the proposal will undergo a 60-day public comment period.

Areas covered in the session:

• Understanding the new DOL proposal and its likely impact.
• Timeframe for Employers to adapt to these changes.
• Strategies for Employers to proactively influence the proposed decision.
• Effective communication strategies with newly non-exempt employees.
• The role of job responsibilities in determining classification.
• Managing staff morale, turnover, and benefits in light of the changes.
• How automatic salary threshold updates could affect your budget.
• Importance of confirming 'duties tests' before making decisions.
• Clarifying confusions around Executive, Administrative, and Professional Exemptions.
• Utilizing the Fair Labor Standards Act for compliance preparation.
• Implications of timekeeping, off-the-clock work, and overtime approval policies.
• Risks of incorrect employee classification.
• Resources for mitigating negative employee responses.
• Balancing state and federal overtime regulations.

Why Should you attend?

The last overtime salary increase posed significant challenges for employers, including communication hurdles, decreased staff morale, loss of benefits, and increased turnover.

This webinar aims to prepare employers for the proposed changes, enabling them to communicate effectively with their workforce, make cost-effective decisions, and develop training programs for both managers and newly non-exempt employees.

Don't miss the opportunity to adequately prepare your organization for these substantial shifts in employment law.

Who should attend?

This webinar is essential for anyone involved in the decision-making process surrounding employee compensation, classification, and management, as well as those responsible for ensuring compliance with labor laws. Specifically, the webinar will benefit:

• Human Resources Managers and Executives
• Compensation and Benefits Analysts
• Labor Relations Specialists
• Employment Law Attorneys
• Business Owners and CEOs
• Payroll Managers
• Compliance Officers
• Management Consultants
• Training and Development Managers

Don't miss this opportunity to arm yourself with the knowledge and strategies you'll need to navigate the proposed changes to DOL's overtime salary rules effectively.