Starting July 2024, the employee salary threshold for overtime pay will rise to $58,656! Employers need to prepare now to ensure compliance and adapt to these changes. Need help navigating these updates? HRPivot offers expert guidance on calculations, strategy, employee management, and training. Contact us today to get ready for the new overtime pay thresholds! #FLSA #overtime #HRPivot #OvertimeRules #HRCompliance #EmployeeManagement
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Overtime calculations can be puzzling, especially when employees receive multiple rates during a workweek. ✅ To ensure compliance, overtime hours should be paid at 1.5 times an employee's Regular Rate of Pay. Learn how to calculate RROP and use it to properly calculate overtime in our recent blog post! https://hubs.la/Q01ZXnxR0 #OvertimeCalculations #PayrollProcessing #PayrollMistakes #WorkforceManagement #HRSoftware #PayrollSolutions #GreenshadesPayroll #HRManagement #StayCompliant #BusinessProductivity #PayrollAutomation #PayrollTips #EmployeeCompensation
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Remember, the FLSA is unyielding when it comes to overtime pay rules. Regardless of whether your employee consents to forgo overtime pay, you, as a business owner, are obligated by law to pay it when due. Avoid these pitfalls! #workovertime #workingovertime #overtimehours #FLSA #PayrollCompliance #SmallBusiness #SmallBusinessPayroll #PayrollServices #PayrollOutsourcing
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On July 1, 2024, the salary threshold for overtime eligibility rose to $43,888. The threshold will increase again on January 1, 2025, to $58,656. If you are a salaried employee and are unsure if you qualify for overtime wages under the new rule, speak with an attorney at Barrett & Farahany today. https://ow.ly/6lwg50Sz5G2 #BarrettFarahany #Overtime #OvertimeWages #SalariedEmployees #OvertimeEligibility #SalaryThreshold #EmployeeRights #EmploymentLaw #Law
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💼 New overtime eligibility rules from the U.S. Department of Labor! 💼 These updates to the Fair Labor Standards Act (FLSA) will extend overtime pay to more employees. Is your business ready to adapt? Understanding these changes is crucial for managing your payroll effectively and staying compliant. 🙌🏼 #escalonservices #departmentoflabor #overtimepay #payroll
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Remember, the FLSA is unyielding when it comes to overtime pay rules. Regardless of whether your employee consents to forgo overtime pay, you, as a business owner, are obligated by law to pay it when due. Avoid these pitfalls! #workovertime #workingovertime #overtimehours #FLSA #PayrollCompliance #SmallBusiness #SmallBusinessPayroll #PayrollServices #PayrollOutsourcing
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One of the top mistakes I see small business owners make is misclassifying their employees as salaried exempt to save the hassle of managing overtime and hours. Now is the time to work with Paychex to assess your job descriptions, review salaries, and come up with a plan to restructure your classifications if there any that don’t meet these criteria. Let us help take the “guess work” out of the equation! Starting July 1, initial increases from DOL’s overtime ruling go into effect. Help prepare by watching this valuable webinar detailing what’s changing for your business. I want to help ensure you make informed decisions to remain in compliance. Watch on-demand. #Compliance #OvertimeRuling
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Overtime for Holiday Pay? As reported by Law360, the Supreme Court of Colorado is questioning whether holiday pay should be excluded from total compensation used by a major employer in calculating its overtime pay for employees. Holiday pay is often excluded from hours of work, but omitting it from total compensation when calculating the regular rate of pay for OT may prove problematic in Colorado and other jurisdictions. Have you audited your pay practices lately? It might be time to lift the hood and avoid later scrutiny! #overtime #holidaypay #wageandhour #colorado
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Reclassifying employees as non-exempt can have significant implications. Non-exempt employees are entitled to overtime pay at a rate of one and a half times their regular hourly rate for hours worked beyond 40 in a week—except in states like California, where overtime rules differ. Learn more about the upcoming DOL overtime rule changes and correctly classifying employees in this post from Jess Camp, PHR, SHRM-CP. >> https://hubs.ly/Q02xN4kd0 #overtime #wages #overtimepay #exemptemployee #DOL
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Passionate about optimizing HCM strategies to drive business success | Senior Solutions Consultant at CBIZ with over 15 years of experience | DEI Champion committed to fostering inclusive workplaces
🚨 New FLSA Overtime Rule Update! 🚨 Starting in 2024, the overtime salary thresholds are set for a significant increase. This change will extend overtime protections to millions more employees across the U.S. Want to know how this impacts your business and what steps you need to take? Check out our latest video where we break down the essentials of the new rule. Plus, get detailed compliance guidelines by accessing the full article through the link below. Don’t miss out on essential updates that could affect your workforce! 🔗 https://lnkd.in/eWJgC2Hi #FLSA #HRCompliance #PayrollCompliance #BusinessLeaders #HumanResources #Payroll #CBIZ #HCM
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The proposed increase for exempt employees' minimum salaries would make any exempt employee making less than $55,000 per year, or $1,059 per week, eligible for overtime. The Biden administration’s proposed increase would bring the salary threshold for overtime pay more in line with the average wage in the U.S. It would also make millions of workers who are currently ineligible for overtime pay eligible for additional compensation. Read more in this post from Jess Camp, PHR, SHRM-CP. >> https://hubs.la/Q027cbmb0 #minimumwage #salaryincrease #overtimepay #overtime
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