FLSA Changes Coming December 1st – Survey Says Business Owners Unaware
A recent survey conducted by Paychex found that almost half of small business owners are unaware of their new obligations under the December 1st changes to the Fair Labor Standards Act (FLSA). According to the Department of Labor, an estimated 4.2 million American workers are expected to be impacted by the change, and businesses who do not comply with the changes to salary thresholds can be on the hook for back wages and interest up to twice the amount of what was originally owed. Fortune outlines several steps businesses can take to minimize overtime costs, including raising salaries to meet new salary thresholds, changing employee classifications, and changing salary agreements.
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