FLSA Overtime Changes Finalized; What The New Rules Mean for Your Organization

The U.S. Department of Labor released the finalized rules governing eligibility for overtime pay under the Fair Labor Standards Act of 1938 (FLSA). The rules raise the salary level test for exempt workers significantly from today's current level of $23,600 per year to $47,476 – meaning that the majority of employees earning less than $47,476 must be paid overtime if they work over 40 hours in a work week.

The final rules also increased the threshold for highly compensated employees (HCEs) to an annual salary of $134,004. Organizations have until December to change their compensation plans and reclassify workers. The new rules take effect on December 1, 2016.

In this webinar, Melissa Sharp Murdock, WorldatWork senior manager of external affairs, will provide you a detailed overview of the finalized regulations. Kerry Chou, WorldatWork senior practice leader on compensation, will weigh in with insights as to what total rewards professionals should do now that the rules are released, including:

• Available compensation options and factors to consider in addressing these changes
• Basic modeling ideas to assess potential financial implications of various options
• Communication tips for managers on the reclassification conversation from exempt to nonexempt.
• Attendees will walk away from this webinar with a basic understanding of the rules and practical tips to begin compliance measures.