Stay informed about changes to OT salary thresholds and much more!
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Changes likely next year for minimum salary amounts. Plan ahead by checking salary rates for your employees and come up with a game plan to give them raises or convert them to hourly. https://lnkd.in/gBKHdYHz
DOL Proposes Substantial Increase to Salary Threshold for FLSA’s White Collar Exemptions
https://ogletree.com
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Minimum Exempt Salary Threshold Increase https://lnkd.in/ee-TZM5F I think now is a great time to meet with your HR Professional to discuss possible ramifications if DOL moves forward with proposed changes. $1,059 is a significant increase from $684 a week. If your creating new positions also diving into the salary and duty tests can save a lot of risky situations down the road.
Labor Department’s New Overtime Rule Likely Coming Soon: Your 8-Step Plan to Prepare
fisherphillips.com
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Salary thresholds are going up, up, up! Starting July 1, 2024, the salary threshold will increase to an annual salary of $43,888 & increase again to $58,656 on Jan. 1, 2025. Stay updated & prepared for these upcoming changes. #salarythresholds #businessnews #paychex
Biden-Harris administration finalizes rule to increase compensation thresholds for overtime eligibility, expanding protections for millions of workers
dol.gov
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Here's a guideline to the new salary threshold, effective July 1, 2024!! ☝ Please feel free to reach out with any questions about how this could effect your employees, or how to navigate step 1 of this 2-part implementation!
DOL’s New Salary Threshold Makes Millions of Employees Eligible for Overtime
https://www.wyrick.com
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The increase in the Minimum Salary Threshold is HUGE and going to be quite difficult on businesses especially knowing the change is coming in a few months. Seems the increase in minimum salary threshold should increase some, but not nearly to this level. Maybe they should also consider different thresholds for different areas of the nation....these amounts mean one thing in CA and another in KY.
Business Groups Sue to Enjoin DOL Rule Increasing Minimum Salary Thresholds for Overtime Exemption
natlawreview.com
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The Department of Labor’s power in defining the “Minumum Salary Rule” was recently challenged. In my latest post, I break down the legality of this regulation and what it means for employees today:
Fifth Circuit Affirms the 2019 Minimum Salary Rule: What Does This Mean for Employees? By: Elizabeth Scirè Banchitta
Fifth Circuit Affirms the 2019 Minimum Salary Rule: What Does This Mean for Employees?
http://thelejer.wordpress.com
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IT Community Influencer! HTMD Community! Workplace Solution Architect! Microsoft MVP from 2015. #MEMCM #MSIntune #Azure #VDI #WVD #AVD. Microsoft Most Valuable Professional Award. Device Mgmt enthusiast.
🔥It's that time of year again - salary increment projections are in! But before you get too excited, it's important to remember that average performers and top performers may not receive the same rewards. To stand out in the crowd, it's crucial to dream big and go above and beyond. How can you do this? (sarcasm🤌) By dedicating yourself to your work, putting in overtime, being (over)smart, showcasing your talent, thinking outside the box, and being a great problem solver. For those in the IT services industry, the charm of companies is long gone unless you're willing to go onsite for 2 years(without family 😭). And when it comes to performance analysis, the bell curve is becoming old school. At the end of the day, most employees will receive the same reward. So, it's up to you to differentiate yourself and make sure you're not one of many who receives the 🥕🥕🥕🥕🥕🥕🥕🥕.
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🚨 New DOL Exempt Salary Requirements Effective Today! 🚨 Starting July 1, 2024, the Department of Labor's updated salary thresholds are in effect. To help you navigate these changes, we've published a comprehensive 3-part blog series that breaks down the new requirements and what they mean for your business. Stay compliant and informed with our detailed guides. 🔗 Dive into the series: https://lnkd.in/eDi84234
Part I DOL Salary Threshold for Admin Exemptions | Anthony Law LLC
anthonylawllc.com
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Let’s talk about the variable elements of payroll: Variable elements (EV in french) are our priority guide as a Payroll Manager in producing pay slips. It is for this reason that its collection must be done carefully and not lightly. As variable elements, we can have: - Overtime ; - Absences and leave; - Exceptional bonuses; - Reimbursement of professional expenses; - And many others… Entering variable payroll elements is a crucial step in the payroll management process. It allows you to take into account all the elements that will influence the employee's salary for the current period. Good luck to all Payroll Managers!
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Hello, small business owners & followers! When it comes to employee compensation, the methods used by employers can significantly impact a business's financial landscape and its workforce's well-being. Understanding these payment structures is crucial for navigating financial responsibilities and reporting requirements. Let’s break down the main types: 🌿 Hourly Wages Perfect for entry-level roles, paid based on hours worked. Factors like overtime and holiday shifts can affect overall earnings. 🌿 Salary Ideal for management and higher-level positions, offering a consistent annual total spread across pay periods. Bonuses and commissions are extra. 🌿 Commission Performance-based pay calculated as a percentage of sales. It’s a great motivator but can fluctuate widely. 🌿 Bonuses Non-guaranteed rewards tied to company goals. They can be motivating but sometimes challenging if goals feel out of reach. #TuesdayTip Want to learn more about how different compensation structures can benefit your business? Read our blog post: https://bit.ly/4bGeKN3 #EmployeeCompensation #BusinessTips #FinancialManagement #BusinessGrowth
The Differences Between Wages, Salary, Commission, and Bonuses | Day to Day Finance | Sydney, NS
daytoday.finance
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