After a long wait, the department of labor has released the new and latest overtime rules. The DOL new overtime rules are seen to be a big step for impacting many organizations and working. These proposed rules will change the presently available rules and are expected to bring the desired effective changes.
The proposed FLSA overtime rule will not only impact the present situation and scenario of the businesses and organizations but it will also impact the future of the organizations. Are you aware of the changes that these new rules will have on your organization?
Impact on the new rules on the organization:
The new rules that caught the attention of everyone mainly focus on recommending what will be the best in the interest of their clients and customers, while providing advice on monetary matters. It aims that the advisors should take efforts for deciding the plans and investment plans which are the most suitable for the organization so that it can get the maximum profit and revenue.
The FLSA overtime rules proposed are so made so that the employees may feel satisfied that they are being fully and totally compensated for what they have been doing. The various pieces of advice followed for these rules are for the benefit of the employees who work for making their organization the best with their overtime work.
Although there are rules for the overtime issues of the employees but with the introduction of these rules, the whole issue has been expanded for the benefit and betterment of the employees and organization. Overall, it can be said that the new proposed rules by DOL (department of labor) will change the way in which the overtime issues and compensations were being handled by the organization.
The areas that these new rules will cover:
The new FLSA overtime rule will be the most beneficial for the HR managers, payroll managers, as well as chief financial managers for better planning many aspects of the organization. The various areas that would be covered under these new rules are as follows:
- The various duties test for managerial, professional and administrative exemptions
- Proposed salaries for the white-collar exemptions along with the highly compensated employees
- Calculation of the minimum salaries of the employees
- The needed automatic increase for the future
- To examine and analyze what changes have been made in the organization and what all changes will be made in the organization after the implementation of these new DOL rules
Other than these, the new rules will also aim at the progress of the organization so that the employee management activities can be done frequently and in the best possible manner.
The new FLSA overtime rule has captured everyone’s attention for all the good reasons. Are you also excited about these proposed rules? What are your opinions about the proposed rules in the perspective of employee benefits along with the progress of the organization? Please comment below, all that what you think of the new proposed rules.
Article Source –