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Department of Labor with changes to the overtime provision of the Fair Labor Standards Act (FLSA). In case you missed it, here’s a short summary of the ruling : The Department of Labor has set the new standard salary level at $913 per week or $47,476 annually. Exploring the Overtime Policy Piece.
Additionally, plan sponsors may use the electronic disclosure standards under Department of Labor (DOL) regulations in order to send the creditable coverage disclosure notices electronically (see our whitepaper on the DOL’s Electronic Disclosure Safe Harbor Rules). 15, 2023 – i.e. – by October 14. 16, 2022, that will suffice.
From the Department of Labor (DOL) Wage and Hour Division : The FLSA establishes minimum wage, overtime pay, recordkeeping, and youth employment standards affecting employees in the private sector and in Federal, State, and local governments. Learn the best practices for documenting FLSA classification in this free whitepaper.
Thankfully as the nursing profession continues to grow, salaries for these professionals are increasing as well. Salary And Earnings. Those that work in healthcare know that overtime hours are extremely common in the field. 2016 has seen improvement in this area as well, with a decrease of overtime hours worked.
For example, if profit projections are down, Finance might inform HR that overtime needs to be reined in. HR can adjust hiring schedules and monitor performance data to ensure the company is not spending more than it needs to on salaries and overtime. Some departments, such as Payroll, overlap the two areas.
For instance, salary data can be used to do pay benchmarking. Find out how you can use people analytics to predict, manage and measure the impact of HR operations by downloading our new whitepaper. Every year, new business regulations pop up, such as privacy requirements for employee data and overtime related norms.
There are also hygiene factors in the day-to-day employee experience that can be measured and feed into decisions about how to improve engagement, such as: HR system records of how much overtime is worked or whether hours are different to normal. Download the complete whitepaper now. This misses the point.
SHRM (Society for Human Resource Management) estimates replacement costs at 6-9 months of an employee's salary For a $60,000 annual salary, replacement costs could range from $30,000 to $45,000 The Hidden Costs of Lost Productivity, Training, and Onboarding The costs of employee disengagement are much higher than we often realize.
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