Is your organization prepared for the proposed changes in the Department of Labor’s Overtime Rule? Join us for a one-hour webinar during which Ashleigh Draft, an attorney and employment law expert from Varnum Law will discuss:
• Proposed changes to the Department of Labor’s Overtime Rule
• Potential impacts of the rule changes
• Steps attendees can take to prepare for the changes
Attendees will gain insight into how to prepare for the proposed overtime regulations and get their questions answered.
What’s happening:
As soon as April, the Department of Labor plans to issue final rules about which employees are eligible for overtime pay under the Fair Labor Standards Act (FLSA). The proposed rule increases the salary threshold for overtime eligibility from about $35,000 to about $55,000. The DOL has also proposed automatic updates to the salary minimums every three years.
Why it matters:
The Department of Labor’s rule changes are expected to significantly increase labor costs, amounting to $1.2 billion for employers in the first year. This could mean less flexibility and fewer benefits for workers, and even lead to the elimination of some middle management positions and opportunities for career advancement. When the rule becomes final, employers will have to quickly decide whether to reclassify certain positions, increase salaries, or both.
