Upcoming FLSA Changes, Politics at Work, and More
FLSA Changes Coming December 1st – Survey Says Business Owners Unaware
A recent survey conducted by Paychex found that almost half of small business owners are unaware of their new obligations under the December 1st changes to the Fair Labor Standards Act (FLSA). According to the Department of Labor, an estimated 4.2 million American workers are expected to be impacted by the change, and businesses who do not comply with the changes to salary thresholds can be on the hook for back wages and interest up to twice the amount of what was originally owed. Fortune outlines several steps businesses can take to minimize overtime costs, including raising salaries to meet new salary thresholds, changing employee classifications, and changing salary agreements.
MSNBC Your Business: Managing Political Discussions In Your Office
Top Five Wage & Hour Issues Plaguing Employers
JD Supra Business Advisor recently outlined the five most critical wage and hour issues impacting employers, and while it came as no surprise that the top issue is tied to the upcoming changes to the Fair Labor Standards Act (FLSA), there are several other issues outlined that employers should be aware of. These include the Department of Labor’s increased focus on joint-employer liability, minimum wage changes, and application of the FLSA’s tip-credit requirements.
VOTING TIME OFF LAWS
As election day approaches, employers should review relevant state voting right laws to ensure compliance, as some states require that employees be given time off to vote. New York and California are two states that require employers provide “sufficient time to vote”, whereas other states like New Jersey and Connecticut do not have laws that require employers to provide time off to vote.
2017 Retirement Plan Limitations
The Internal Revenue Service and the Social Security Administration have announced their cost of living adjustments for 2017. The majority of retirement plan dollar limitations will remain unchanged, with 401(k), 403(b), and 457(b) elective deferral and catch-u contribution limits remaining the same. Some limits will increase, including the Social Security (FICA) Wage Base and the Compensation Limit under Section 401(a)(17).
As Workplace Harassment Gains Heightened Attention, Experts Say Regular Training a Must
Workplace harassment has gained increased attention this year in the wake of many high powered, prominent figures being accused of “systemic and unchecked sexual harassment”. JD Supra Business Advisor reports that last year the Equal Employment Opportunity Commission (EEOC) filed over 6,800 harassment charges alone, representing only 17 percent of this type of claim. To combat workplace harassment, JD Supra advises employers to develop comprehensive policies and actively enforce them, as well as provide ongoing, regular training sessions “tailored to the employer’s workforce (i.e. industry, employee demographics, location, etc.)”.
FLSA Changes Are Coming in 27 Days.
Is your business ready?
On December 1, 2016, the Fair Labor Standards Act will be modified, resulting in several key law changes that may impact the way you are legally required to compensate some of your employees.
OperationsInc FLSA Compliance Assessments can assess your firm’s exposure, and provide recommended strategies to help you meet the new compliance standards.