With the recent release of the fall regulatory agenda and the impending updates to overtime regulations scheduled for April 2024, it is imperative for employers to understand the proposed changes and prepare accordingly.
This course will delve into the specifics of the Department of Labor's (DOL) proposed updates to the executive, administrative, and professional exemptions for overtime pay, addressing key elements such as salary threshold adjustments and automatic increases. Additionally, it will explore the potential impacts on businesses and employees, providing insights into effective communication strategies, compliance measures, and proactive decision-making to mitigate adverse effects.
Areas Covered during the Session:
• Understanding the significance of reviewing Federal Regulatory Agendas for prioritized trends and proactive preparation.
• Analyzing the implications of highlights on the April 2024 launch date.
• Exploring the key provisions of the DOL proposal and identifying its primary impacts.
• Determining the timeframe for implementing necessary changes and making informed decisions.
• Strategizing proactive approaches for influencing proposed regulations and advocating for employer interests.
• Developing effective communication strategies to positively impact newly non-exempt employees.
• Clarifying the role of job responsibilities in classification and compliance.
• Implementing compliance measures without compromising morale, turnover, retention, or benefits.
• Assessing the budgetary implications of automatic salary threshold updates linked to the Consumer Price Index (CPI).
• Confirming duties tests compliance to mitigate risks and ensure accurate classification.
• Understanding the complexities of Executive, Administrative, and Professional Exemptions in classification decisions.
• Leveraging the Fair Labor Standards Act as a guide for compliance best practices.
• Identifying resources and tools to mitigate employee resistance and foster a positive response.
• Evaluating the interplay between state and federal overtime regulations and determining precedence in compliance efforts.
Who will Benefit:
• Business Owners
• Company Leadership
• Compliance professionals
• Payroll Administrators
• HR Professionals
• Managers/Supervisors
• Employers in all industries
• Small Business Owners
