Overtime for Salaried Workers: Changes Employers Need to Know
More than four million white collar jobs may be transformed in 2017 as the U.S. Department of Labor’s (DOL) annual salary threshold for overtime pay could double from $23,660 (current threshold) to $47,476. The rule was to go into effect December 1, 2016, but has been temporarily sidelined by an injunction brought on by a court in Texas. Whatever your reaction, it’s hard to argue change is inevitable when it comes to staffing your business. In 1975, more than 60 percent of salaried workers were eligible for overtime. Today, less than eight percent of full-time salaried workers are covered by the same regulations. This guide provides a general overview of the proposed changes.