StratEx’s Gretchen Van Vlymen recently contributed to a SHRM article written by Dana Wilke, “The Nuts and Bolts of Complying with the New Overtime Regulations“. Click here for the full article, but here are a few highlights:
- The annual salary threshold for employees exempt from overtime pay will increase from $23,660 to $47,476 on December 1st.
- Gretchen reports it is taking our HR Account Managers at StratEx from eight to 24 hours with each client to navigate through the new regulations and implement the changes necessary to be compliant with the rule. The DOL estimated it would take one hour per company.
- Hospitality and restaurant companies can be particularly tricky to figure out, with variable or unpredictable hours, split roles and other considerations.
- Paycheck deductions tied to benefits may need to be reviewed and updated if benefit offerings are affected based on employee exemption statuses.
If you have questions about the new overtime regulations and how they may affect your employees’ exemption statuses, StratEx can help you navigate this, and other tricky HR and Payroll related topics. Contact us now for more information.