The U.S. Department of Labor has announced important new — some would add, demanding — rules that need to be addressed. Beginning December 1, 2016, organizations will need to respond to the changes in the definition and requirements of “exempt” and “non-exempt” employees. Employees now earning less than $913 per week will qualify for overtime pay when they work more than 40 hours per week.
Meanwhile the Wage and Hour division is pursuing strategies that ensure employees are properly paid. Last year the Wage and Hour Division obtained more than $38 million in back wages for primarily restaurant workers for minimum wage and overtime violations.
Additionally, the Wage and Hour Division continues to address employee misclassification issues. As noted, the Wage and Hour Division, working with the IRS and 22 states, has issued an administrator’s interpretation that provides guidance to employers about whether workers are employees or independent contractors.
Why Should You Attend:
The IRS, the Department of Labor, the EEOC, state agencies, and trial lawyers have put employers on notice: Wage and hour issues are a “significant problem with adverse consequences.” To address this problem federal and state agencies are hiring new auditors and committing more resources to determine noncompliance. As a result, employers’ exposure to liabilities associated with wage and hour issues is increasing.
Areas Covered in this Webinar:
Human capital related labor costs represent a significant organizational expenditure. Labor costs are often the largest expense for many organizations and can have significant cash flow implications. At the same time, human capital also represents a significant organizational asset and is the engine and the wellspring of innovation, production, and revenue. Thus your organization’s decisions concerning the control of labor costs and the management of its human capital directly impacts the bottom line and provides valuable insight into the importance it gives this asset.
Numerous external and internal factors influence and affect your organization’s wage and hour decisions and policies, including: the economy, industry practices, competitive factors, financial resources, business objectives and imperatives, corporate culture and values, diversity and EEO goals, the use of performance management systems, and actual and perceived risks. Your organization must consider these factors in formulating a compensation policy that achieves external and internal pay equity.
While your organization is generally unfettered in its compensation decision making, in the “war for talent,” an uncompetitive compensation plan makes hiring and retention more difficult, increases hiring and retention costs, increases turnover costs, and increases per position payroll taxes.
In addition to marketplace forces, federal, state, and localwage and hour laws and regulations are constantly changing, limit some of your organization’s decision making prerogatives, and represent a significant financial risk. These laws, while simple and straightforward in appearance, contain numerous qualifications, exceptions, exemptions, and other restrictions that make them complex, make compliance often difficult, and require your ongoing attention.
• How employers must take proactive measures to prevent wage and hour violations
• How to correct pay errors when they do occur
• How to publish a notice that they are committed to compliance
• How to demonstrate that commitment through effective governance and risk management practices, including internal audits
Who Will Benefit:
• HR Professionals
• Patrol Managers
• Risk Managers
• Internal Auditors
• In-house Counsel
• Management Consultants
Ronald Adler is the president-CEO of Laurdan Associates, Inc., a veteran owned, human resource management consulting firm specializing in HR audits, employment practices liability risk management, HR metrics and benchmarking, strategic HR-business issues and unemployment insurance issues. Mr. Adler has more than 39 years of HR consulting experience working with U.S. and international firms, small businesses and non-profits, printers, insurance companies and brokers, and employer organizations.
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