But it’s sure to face opposition from some business owners.
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Masters added, “And when you talk about cutting back on things, that has all kinds of negative consequences that telegraph a whole lot about your philosophy of management that can have really serious implications for morale and productivity”.
Houston based attorney Steve Roppolo says he’s been busy helping his clients prepare.
The rule will likely face legal challenges, including claims that the U.S. Labor Department flouted legal requirements for creating new regulations. If they earn less than the new threshold, they get 1 times regular wages for any work done beyond 40 hours a week.
The effective date of this Final Rule is December 1, 2016. Many employees will see that as a step down, they said.
The Labor Department announces it will expand the overtime salary threshold, guaranteeing overtime rights to millions of people who now do not qualify for such benefits.
Bern has more than 110 employees on staff and says although his business won’t be drastically affected, it is an additional burden. You’ll need careful records of time worked, too.
“Either way, the worker wins”, Vice President Joe Biden said Tuesday during a conference call with reporters.
Florida Retail Federation sent us a statement earlier Wednesday saying thousands of employees will be changed from salary to hourly, which will impact their pay, benefits, and their families.
Bill Hanvey, president and CEO of the Auto Care Association, said, “Members fortunate enough to be aware of the coming changes are already beginning the reclassification of many employees as well as revisiting overall wages and benefits”.
“Nothing in the Fair Labor Standards Act – or in the overtime rule – requires the choice between flexible work arrangements or opportunities for career advancement and complying with basic labor standards”, the agency said.
“I applaud the Obama Administration and the Department of Labor for extending overtime pay eligibility to millions of hardworking Americans”.
The overtime threshold was last updated in 2004 and now covers just 7-percent of full-time salaried workers, down from 62-percent in 1975. If they are close to the threshold, she said, they could get a raise to lift them back above it.
While the threshold is slightly lower than had first been proposed, ” it is still high enough to impact many employees, resulting in more hourly employees and fewer salaried positions”, according to Illinois Chamber of Commerce President Todd Maisch.
At a meeting of the Wilkes-Barre/Scranton International Airport board Thursday, Lackawanna County Commissioner Laureen Cummings lamented the new overtime rules. “Today, it’s 380 times as much”.
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“Ultimately you have to see how it pans out, but… the predictions are pretty grim for how this affects the retail industry”. Workers who are paid above the threshold can still get overtime – unless they perform supervisory or professional duties, a so-called “white collar exemption”.
