New overtime rule: Will your business pass the test?
On May 18, 2016, the U.S. Department of Labor announced the final regulations revising the "white collar" overtime exemptions.
· Set the minimum salary level for exemption at $47,476 ($913/week) and the salary level for the highly compensated test at $134,004;
· Provide for automatic increases in the salary levels after three years (beginning Jan 1, 2020); and
· Allow employers to count any bonuses paid on at least a quarterly basis toward 10% of the minimum salary level.
Now that these regulations have been finalized, it’s important for every business to understand what actions should be taken before the Dec. 1, 2016, effective date.
Richard Davis, SPHR, SHRM-SCP, a talent management and human resource expert, will help you understand what these regulations mean for your business and the HME industry as a whole, and will guide you through steps to determine what changes are necessary to your practices. Richard has served as vice president of HR for a large regional HME provider so he brings valuable HME-specific experience into the discussion.
Topics to be discussed include:
· Evaluating and revising job descriptions
· Reviewing job classifications
· Determining any wage adjustments
· Understanding the duties test
· Communicating with employees
· Developing policies and procedures related to non-exempt company cell phones/email accounts.
The webcast will culminate in a Q&A session.
Richard Davis, SHRM-SCP, SPHR, president, HirePowerHR
Liz Beaulieu, editor, HME News