Your company could be forced to shell out more overtime pay to lower-paid workers under a long-awaited Labor Department modernization of the Fair Labor Standards Act (). On the bright side, certain higher-paid professionals would no longer be eligible for overtime pay, and the easier-to-understand rules would make it simpler for companies to decide who is due overtime and who is exempt.
Results: A mixed bag
One major change: The "salary level" threshold for exempt status would increase from $155 per week to $425 per week. That, in effect, means employees earning below $22,100 a year would automatically qualify for overtime pay. That change alone, the government estimates, would convert 1.3 million workers from exempt status (not eligible for overtime) to nonexempt status (eligible for overtime).
Better news: The rules are simpler, so you'll face less legal risk of unintentionally misclassifying employees as ...(register to read more)
- How to Fire an Employee the Legal Way: 6 Termination Guidelines
- Take another shot at small biz one-two tax punch
- Ohio nonprofit busy as wage theft complaints rise
- Warn bosses: Do nothing that discourages FMLA leave or punishes those who take it
- In tough cases, safety first: Attempted suicide at work grounds for discharge