The U.S. Department of Labor is expected to release new overtime rule changes any day now (it could be as soon as this week), which will likely affect millions of workers in our country. Once the changes are announced, it is anticipated that employers will have 60 days to comply with the new regulations, or be subject to fines and penalties.
As we blogged about previously in September 2015 (Plan Now for Increases in Exempt Pay and City of Portland Minimum Wage Hikes) and December 2015 (New Overtime Rule Delayed), it is crucial that employers begin the planning process now to ensure smooth transitions in complying with regulations. Any advanced planning that can be done can help with employee morale as well as affect your bottom line. Employer communication plans and training should be ready when the news is released.
This week Forbes online published a nice article on getting your business ready for the imminent changes. Read the article at Forbes.com.
Here at KMA we are ready and waiting to help! If your business needs assistance evaluating the effect of the new rules and maintaining compliance, contact KMA Human Resources Consulting.