June 3, 2024
There’s a lot to celebrate and commemorate this June: Pride Month, Juneteenth, Father’s Day, the Summer Solstice. And congratulations to the members of the class of 2024!
We’ve also got June events to share, as well as some compliance updates and insightful articles you won’t want to miss. Let’s dive in.
Why You Need Quality Compensation Data
Have you ever found yourself in a conversation with a peer from a friendly competitor, casually discussing what they pay for certain positions within their organization? While it might seem like harmless banter, such discussions can raise red flags from an antitrust perspective.
In today’s highly competitive job market, obtaining quality data from reputable sources is crucial for setting competitive compensation levels appropriately and legitimately.
KMA is conducting our 2024 Employee Benefits Survey, compiling and analyzing data for New England based businesses. This year, survey participants will receive the full 30+ page report, with data and analysis in the fall of 2024 for free – perfect timing for planning your compensation budgets for 2025.
The data presented in this report will help you understand how your benefits offerings measure against the market, and you’ll gain insights on other competitive benefits you might consider offering to retain and attract employees.
Don’t miss out! Please complete the survey here before June 15.
Thank you for participating, and thank you to our sponsors Acadia Benefits and Lebel & Harriman!
Ready, set, make your mark, class of 2024!
As the proud mom of a soon-to-be high school graduate (our first), I am excited to celebrate this milestone, and full of emotion for all that’s to come in the days and weeks ahead.
Each June, we like to recognize all the graduates out there, whether you’re celebrating the completion of high school, college, or a professional degree. This moment is a testament of your dedication, perseverance and grit. After countless hours studying, researching and writing, preparing for exams – now you stand on the edge of a new chapter. Trust in your abilities; the world is full of opportunities waiting for you to explore and make your mark.
Congratulations, class of 2024!
If you’re beginning your search for a “real” job and officially launch your career, Jenn Bradford has been working in HR and recruiting for nearly two decades, and she’s got plenty of great advice for job seekers – not the least of which is to check your email!
Summer Intern?
If you’ve got an intern coming on staff this summer, well done! We always encourage the mutual benefits of an internship program, as long as it’s been thoughtfully managed. With the right amount of advance planning and built-in structure for guidance, direction and feedback, an intern can quickly become a highly valued team member, whose learning and professional development is supported and nurtured in the process.
If you need guidance on developing an internship program, including on proper payment of interns under Department of Labor guidelines, just reach out to us today. We’d be happy to help you give, and get, the most out of your internship program.
Register for Harassment Prevention Training
June 13, from 9:00-10:30 via Zoom Webinar
This course is intended to help employers and employees prevent and stop the damaging effects of all types of harassing behaviors. Participants will learn about legal requirements and what to do when harassment occurs. Special training for supervisors is also provided. This program meets Maine compliance requirements for sexual harassment training.
Cost to register: $100
Compliance Alert: U.S. DOL Issues Final Rule Raising Salary Threshold for FLSA “White Collar” Exemptions Effective July 1, 2024
The U.S. Department of Labor (DOL) recently announced its Final Rule raising the salary threshold for exempt employees. The final rule will increase the standard salary level and the highly compensated employee total annual compensation threshold on the rule’s effective date on July 1, 2024.
Some potential impacts for employers include: determining which exempt employees meet the standards required under FLSA; compensation planning and budgeting for increased salaries; and developing a messaging plan for notifying employees. In our experience, these types of classification changes can catch people by surprise and are not always welcomed.
Attempts in the past to increase the exempt salary threshold at the federal level have not been successful, and we might not have a final answer from the DOL until weeks or even days before the deadline. However, we recommend that employers start preparing now. Read more.
As always, reach out to the team at KMA for guidance on developing an action plan.
KMA’s Coast-to-Coast Summer Walking Challenge
As we’ve written in the past, summer is an excellent time of year to launch (or re-energize) an employee wellness program, and over the next 14 weeks, the team at KMA will be taking on a summer walking challenge. We’re confident we can collectively walk from the coast of Portland, ME all the way to the coast of San Diego, CA. It’s roughly 3,000 miles, and our team will be tracking and logging their steps all summer long. Follow along with us on LinkedIn, and we’ll have updates in our summer and September newsletters.
Last month, our mostly remote team got together for an in-person company retreat, something we try to schedule a couple of times year. The value of bringing the team together for learning, brainstorming, and time to connect with one another cannot be overstated. As always, spirits were high with this crew! Thank you to the KMA team for working hard every day to provide top notch service for our clients.
Additional reading you may have missed:
Ten Themes from the Annual Mainebiz Women’s Leadership Forum
How Skills Based Hiring Could Expand Your Applicant Pool
Onboarding Strategies that Set Your Employees up for Success and Drive Retention
That’s all for us this month. We’ll be back in your inbox in July for our summer newsletter.
Cheers,
Kim Anania
President and CEO
KMA Human Resources Consulting