Final Rule: Restoring and Extending Overtime Protections | |
The 2024 DOL Final Overtime Rule significantly impacts the FLSA Law by increasing the salary threshold for exempt employees. Employees are exempt from the Fair Labor Standards Act’s minimum wage and overtime protections if they are employed in a bona fide executive, administrative, or professional capacity, as those terms are defined in the Department’s regulations. Employers should learn that the previous overtime increase created severe complications regarding communications to impacted employees, a decrease in staff morale for those who believed that it was a demotion, no overtime pay, loss of benefits when they decided to reduce hours, and costs, challenges with job descriptions, and expected impact in Employer’s budget. It led to an increase in turnover and a decrease in retention. | |
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| Target State: All States Target City : All Cities Last Update : Aug 13, 2024 8:26 AM Number of Views: 47 | Item Owner : TRAINING TIMES Contact Email: Contact Phone: (None) |
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