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 * Margie Faulk


DOL PREDICTS THE OVERTIME RULE TO BE LAUNCHED IN APRIL 2024! EMPLOYERS NEED TO
PREPARE FOR COMPLIANCE!

 * 90 Minutes
 * 22 February, 2024
 * 03:00 PM (EST) | 02:00 PM (CST) | 01:00 PM (MST) | 12:00 PM (PST)

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THE OVERTIME RULE TO BE LAUNCHED IN APRIL 2024

Unified Agenda of Federal Regulatory and Deregulatory Actions is a semiannual
compilation of information about regulations under development by federal
agencies, published in the spring and fall.

The government’s fall regulatory agenda just dropped. Highlights include
overtime regulations slated for April 2024.

The DOL plans to finalize updates to the executive, administrative and
professional exemption for overtime pay under the Fair Labor Standards Act.

- Increase the salary threshold for overtime exemptions from $684 per week
($35,568 annually for a full-year worker) to $1,059 per week ($55,068 annually
for a full-year worker). The increase reflects the 35th percentile of weekly
earnings of full-time salaried workers in the lowest-wage census region
(currently the South).
- Increase the salary threshold for highly compensated employees from $107,432
annually to $143,988 annually. The increase reflects the earnings of the 85th
percentile of full-time salaried workers nationally.
- Implement automatic increases every three years to all salary thresholds.

The sizable hike means that, if the rule goes into effect as proposed, employers
may have many employees whose salary falls between the current threshold and the
proposed new threshold, Coburn noted. Employers will have to decide whether to
increase the salaries for those employees to get them up over the new salary
threshold, or to convert the employees to nonexempt and start paying them
overtime.

In addition to being a costly proposed rule for businesses, there might be
nonmonetary impacts on employees whose salary is between the current threshold
and the proposed new one.

Based on the Regulatory Agenda highlights, DOL plans to move swiftly through
regulations now that the Comments Period (11/7/23) has closed. The DOL is
required to take each comment into account and then determine whether to adjust
the proposed rule before it becomes final. The agency will then issue a final
rule taking the comments into account, and it will then take effect within a few
weeks of the final proposal being issued. Employers must start preparing for
what could be big changes to your compensation plans.

Now is the time for Employers to make preparations for this impactful process.
 


WHAT YOU WILL LEARN 

- Why Employers should learn to review the Federal Regulatory Agendas for what
priorities are trending to prepare for any items.
- What the highlights mean to the launching date of April 2024.
- What the DOL proposal includes and who it impacts more.
- How long Employers have to make changes.
- How Employers can proactively impact the proposed decision.
- What communication details can effectively and positively impact newly
non-exempt employees.
- How job responsibilities determine classification, not job titles.
- How to comply without the risk of a decrease in staff morale, increase in
turnover, decrease in retention, and removal of benefits.
- How the automatic updates in salary threshold according to the consumer price
index (CPI) can impact ongoing budget losses.
- How employers should confirm the duties tests before making negative
decisions.
- How the Executive Exemption, Administrative Exemption, and Professional
Exemptions can confuse the Employer's judgment on exempt and non-exempt
employees.
- How Employers can use the Fair Labor Standards Act to prepare for identifying
the proper compliance guidelines.
- What resources Employers can use to mitigate the negative response by
employees.
- What Employers need to do to determine how state overtime regulations impact
federal regulations and which supersedes them.
 


WHY YOU SHOULD ATTEND

Employers should learn that the previous overtime increase created severe
complications regarding communications to impacted employees, a decrease in
staff morale for those who believed that it was a demotion, loss of benefits
when they decided to reduce hours, and costs, challenges with job descriptions
and expected impact in Employer’s budget. It led to an increase in turnover and
a decrease in retention.

Employers can take the time to review and prepare for setting guidelines on how
they communicate the impact to employees, make effective decisions on how to cut
costs without reducing employee hours or benefits, and develop a training
program for managers and newly non-exempt employees.
 


WHO WILL BENEFIT

- All Employers
- Business Owners
- Company Leadership
- Compliance professionals
- Payroll Administrators
- HR Professionals
- Managers
- Supervisors
- Employers in all industries
- Small Business Owners


MARGIE FAULK

Margie Faulk is a senior level human resources professional with over 15 years
of HR management and compliance experience. A current Compliance Advisor for HR
Compliance Solutions, LLC, Margie, has worked as an HR Compliance advisor for
major corporations and small businesses in the small, large, private, public,
Non-profit sectors and International compliance. Margie has provided small to
large businesses with risk management strategies that protect companies and
reduces potential workplace fines and penalties from violation of employment
regulations. Margie is bilingual (Spanish) fluent and Bi-cultural. Margie’s area
of expertise includes Criminal Background Screening Policies and auditing, I-9
document correction and storage compliance, Immigration compliance, employee
handbook development, policy development, sexual harassment
investigations/certified training, SOX regulations, payroll compliance,
compliance consulting, monitoring US-based federal, state and local regulations,
employee relations issues, internal investigations, HR management, compliance
consulting, internal/external audits, and performance management. Margie’s
unique training philosophy includes providing free customized tools for all
attendees. These tools are customized and have been proven to be part an
effective risk management strategy. Some of the customized tools include the I-9
Self Audit. Correction and Storage program, Ban the Box Decision Matrix Policy
that Employers can provide in a dispute for allegations, Family Medical Leave
Act (FMLA) Compliance Guide, Drug-Free Workplace Volatile Termination E-Book and
other compliance program tools when attendees register and attend Margie’s
trainings. Margie holds professional human resources certification (PHR) from
the HR Certification Institution (HRCI) and SHRM-CP certification from the
Society for Human Resources Management. Margie is a member of the Society of
Corporate Compliance & Ethics (SCCE).

SHRM -

Clatid is recognized by SHRM to offer Professional Development Credits (PDCs)
for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.5 PDCs for the
SHRM-CPSM or SHRM-SCPSM. For more information about certification or
recertification, please visit - portal.shrm.org.



HRCI -

This webinar has been approved for 1.5 HR (General) re-certification credit
hours toward California, GPHR, HRBP, HRMP, PHR, and SPHR recertification through
the HR Certification Institute.


The use of this seal is not an endorsement by the HR Certification Institute of
the quality of the activity. It means that this activity has met the HR
Certification Institute’s criteria to be pre-approved for re-certification
credit.

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