President Obama has ordered the Department of Labor to update the FLSA provisions that determine which salaried employees are eligible for overtime pay and which are not. And more changes are likely on the way.
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President Obama on March 13 ordered the U.S. Department of Labor to propose rules to “update and modernize America’s overtime pay system, so that millions of our nation’s salaried workers will have the protections of overtime pay.” The process, which will take months, could make overtime pay available to more management employees who are now considered exempt under the FLSA.
One of the Container Store Group’s “foundation principles” is “1 = 3”—one great employee equals three good ones when it comes to productivity. And the 63-store chain only hires about 3% of all who apply. Then, it pays them 50% to 100% more than its competitors, and spends at least 260 hours training each new employee.