Human Resources Roundtable

HR Professionals - Mark your calendars and plan to join us at the Nashoba Valley Chamber of Commerce on Thursday May 30th from 9-10am.
 
In addition to a roundtable discussion on industry news, we’ll be joined by Jennifer A. Morales, SPHR, SHRM-SCP, Principal at Capstone Certified HR Advisors, who will share important information regarding overtime eligibility that will affect many businesses. 
 
Last August, we were all informed about a proposed federal regulation that would significantly impact overtime eligibility for many salaried employees. This update provides the latest developments and potential timelines.
Key Points include:

• The Department of Labor (DOL) has officially published the new salary threshold in order to consider employees as exempt from the FLSA Overtime Rules.
• As of July 1, 2024, the minimum threshold for the standard “white collar” exemptions increases to $844 per week ($43,888 per year).
• Effective January 1, 2025: The salary threshold will jump further to $1,128 per week ($58,656 per year)
• Litigation is a possibility, and could potentially delay the implementation of these timelines. However, employers should still begin developing plans for the increased salary threshold now to ensure a smooth transition.