ComplianceGrowth

Prepare for the 2025 Changes: Navigating New Minimum Salary Levels for Exempt Employees

Bob McKenzie
Recording Webinar Available @All Days
Recorded Webinar
  

Description

The U.S. Department of Labor has raised the minimum salary threshold for exempt positions from $35,568 to $43,888 as of July 1, 2024. Now, organizations must prepare for the next significant increase to $58,656, which takes effect on January 1, 2025. This nearly $23,000 increase over the previous year will have a considerable impact, and preparation is crucial. Failing to adequately address these changes could result in serious financial and employee relations challenges for your organization.

The Fair Labor Standards Act (FLSA) is one of the most complex and misunderstood employment laws in the U.S., governing wage payment and overtime eligibility. Under the FLSA, employers must pay overtime unless an employee qualifies for certain exemptions. These include the White-Collar Exemptions, as well as the 7(i) exemption for retail and service establishments. Additionally, the Department of Labor (DOL) has various methods for calculating overtime, further complicating compliance.

To add another layer of complexity, some states, including Alaska, California, Colorado, Maine, New York, and Washington, have their own wage and hour laws that differ from federal regulations. Moreover, 33 states have implemented minimum wages higher than the federal standard of $7.25 per hour, and numerous municipalities have their own minimum wage rules as well. Organizations must stay informed about both federal and state laws to ensure compliance.

Many employers are unaware of the specific rules governing which positions qualify for white-collar exemptions, how to handle commissions, shift differentials, production bonuses, and how to account for training and travel time. Compliance is not just about federal laws; state and local regulations, as well as any government contracts, may also have their own wage and overtime requirements.

Staying compliant with these evolving regulations is critical to your organization’s success. Failure to do so could result in costly penalties, potential lawsuits, and damage to employee relations. By proactively preparing for these upcoming changes, organizations can minimize risks and ensure a smooth transition while protecting both their financial interests and workforce morale.

Areas Covered:

  • Key Provisions of the Fair Labor Standards Act (FLSA): Gain a comprehensive understanding of the primary provisions and how they affect your organization.
  • White Collar Exemption Tests: Learn the criteria used to determine if a position qualifies for a white-collar exemption.
  • Analysis of Final DOL Regulations: Review the latest regulations released by the Wage and Hour Division of the Department of Labor.
  • Exploring Additional Exemptions: Discover other potential exemptions your organization may want to consider.
  • Overtime Pay Calculations: Understand how to compute overtime pay for employees with multiple pay rates, including commissions and bonuses.
  • Managing Time for Meal Breaks, Travel, Training, and On-Call Time: Learn the best practices for managing and compensating for various types of work-related time.
  • State and Contract-Specific Minimum Wage Requirements: Get up-to-date information on minimum wage laws by state and for government contracts.
  • Recordkeeping and Posting Compliance: Ensure your organization meets the recordkeeping and posting requirements of the FLSA.
  • Compliance Pitfalls: Identify the most common compliance mistakes and how to avoid them.
  • Actionable Steps: Take away clear action items to ensure compliance and avoid costly penalties.

Why You Should Attend:

  • Stay Informed on FLSA Updates: Learn about the new provisions of the Fair Labor Standards Act and their impact on exempt employees.
  • Master White Collar Exemptions: Understand how white-collar exemptions are determined and applied in your organization.
  • Explore Other Exemptions: Discover additional exemptions that may benefit your organization and ensure compliance with overtime laws.
  • Accurate Overtime Calculations: Gain confidence in calculating overtime pay for employees with complex pay structures, such as those earning commissions, bonuses, or shift differentials.
  • Ensure Compliance with Minimum Wage Laws: Stay up to date on the minimum wage requirements in the regions where your organization operates.
  • Understand Employee Pay for Non-Work Hours: Learn how to correctly compensate employees for training, travel, meal breaks, and on-call time.
  • Stay Compliant with State Regulations: Receive the latest updates on state-specific labor laws and ensure your organization is meeting all regulatory requirements.

Who Should Attend?

  • HR Specialists and Managers
  • Entrepreneurs and Small Business Owners
  • Team Leaders and Department Heads
  • Industry-Specific Organizations and Networks
  • Business and Professional Networks
  • Chambers of Commerce Representatives
  • HR Organizations like SHRM
  • Professional Training and Development Groups
  • Human Resource Networks and Forums
  • Small Business Support Organizations such as Small Business Development Centers (SBDC)
  • Sector-Specific Groups, e.g., Restaurant Associations
  • Hospitality Industry Professionals
  • Trade and Professional Associations

Training Options

Error Conference Exists In Wish-list.

Congrats Conference Added In Wish-list.

Recording
 $199  

Digital Download
 $229  

Transcript (PDF)
 $199  

Tokyo

Tokyo is the capital of Japan.



* Or more than 6 attendee call us at +1-830-256-0384 or mail us at cs@compliancegrowth.com

* For Cheque and ACH payment call us at +1-830-256-0384 or mail us at cs@compliancegrowth.com

* Click to download the Order Form