The new FLSA Overtime Rule is causing quite a stir. This blog’s intent is not to lobby for or against any such rule, but more to help prepare you for its impact. If you wish a more in depth understanding of this ruling, here are three links that can help:
- The Final Rule from the Wage and Hour Division
- A report on the rule’s economic impact
- SHRM’s Stand on the new rule
Obviously, this new ruling will be a disrupter (to use the newest biz buzzword) to businesses of most every size and shape. If change or elimination of this law is a target for you and your business, it will take time. While raising the overtime threshold may be a good idea, doubling it is not and many businesses will face several burdensome backlashes because of it. In the meantime, business owners and CEOs must (stop me if you’ve heard this before) adapt to change and here are some you will be facing.