New rules governing overtime become effective on Monday, August, 23, which
may come as a surprise to some small businesses, the Associated Press reports.
For a Limited Time receive a
FREE Compensation Market Analysis Report! Find out how much you should be paying to attract and retain the best applicants and employees, with
customized information for your industry, location, and job.
Get Your Report Now!While some firms are working feverishly to bring their companies into compliance
with the new rules by the deadline, some smaller firms are unaware of the new
OT regulations' existence.
"I think it's safe to say that some small employers are not even aware of the
changes," says Tom Farmer of Hewitt Associates, a consulting firm.
Despite media coverage of the battle for and against changing the overtime
rules and the Department of Labor's outreach efforts, some small business owners
say they have been so consumed with running their businesses that they missed
the changes in the regulations.
| |
The Self-Audit Guide:
Your Key to FLSA Overtime Compliance
Would you like a detailed guide for how to conduct an audit of your company
against the new rules without spending thousands of dollars on legal fees?
BLR's new Wage & Hour Self-Audit Guide will help. It is
an inexpensive, portable, easy-to-use, and expansive resource designed
to take human resources professionals through a complete audit of their
wage and hour policies and practices to determine whether their company
is in violation of the law. Now available in book
and download
versions.
|
"I'm a little shocked," says York Kleinhandler, managing partner of David
Kleinhandler & Associates, a New York insurance and estate-planning firm. "Being
a small business, we're very much involved with the day-to-day operations of
running our business ventures. If the information is not put out in a public
domain for us, many times we are not aware."
Larger firms may be aware of the new rules, but getting their companies in
compliance may be another matter for some. A recent survey by Hewitt Associates
found 20 percent of large firms believe they will miss the August 23 deadline
for bringing their companies into compliance with the new overtime rules.
In April, the U.S. Department of Labor published final regulations governing
who is eligible for overtime. The new rules make changes to the three tests
for determining overtime eligibility: salary-level test, duties test, and salary-basis
test. For more information on the changes, please see this article: Final
Overtime Regs Make Their Debut: What They Mean for Employers.
Link