Thank you to those who attended today’s webinar, “New DOL Overtime Exemption Rules – What You Really Need to Know Now.” We hope that everyone enjoyed the presentation and learned information that will assist in getting your organization ready for compliance. A recording of the webinar is available here.
For those unable to attend, here are five key takeaways from the presentation:
- Employers must be in compliance with the new overtime rule by December 1, 2016 (but also check state law for any notice requirements related to change in compensation)
- New minimum salary level is $913 per week or ($47,476 annualized), with salary increases every 3 years
- Identify employees who are at or below the new salary level and decide whether you will increase the salary to meet the threshold, restructure the job or re-classify the position as non-exempt
- Review, update and provide training on wage and hour policies
- Prepare a communication plan for any changes
As always, please contact us if you have any questions.