Navigating the New DOL Salary Thresholds: Key Strategies for Compliance

The Department of Labor’s (DOL) upcoming salary thresholds, set to take effect on July 1, 2024, represent significant changes for how businesses must classify and compensate their employees. To help businesses prepare for these changes, compliance expert Margie Faulk provided a comprehensive breakdown in our latest webinar, "Adapting to DOL's New Salary Thresholds by July 2024."

Detailed Webinar Overview

During this insightful 90-minute session, Margie Faulk covered several critical aspects of the new regulations:

1. Overview of Changes: Detailed explanation of the DOL's new salary thresholds, including the rationale behind the updates and their expected impact on different sectors.
2. Phased Implementation: Discussion of the two-phase implementation process with specific dates and guidelines for each phase, helping businesses plan their compliance strategy in stages.
3. Employer Impact: Analysis of how these changes will affect payroll structures, employee classification, and overall labor costs. Strategies were provided on how to adjust payroll systems and human resources policies to accommodate these changes.
4. Employee Communication: Tips on how to effectively communicate these changes to employees to maintain transparency and morale. This includes advice on handling potential employee concerns about reclassification from exempt to non-exempt status.
5. Compliance Strategies: Practical advice on ensuring ongoing compliance, including how to conduct internal audits of current employee classifications and wage structures to identify necessary adjustments.
6. Resources and Tools: Information on additional resources such as compliance checklists, policy templates, and where to find further guidance to ensure your business remains compliant with the new rules.

Watch the Excerpt

Gain a quick understanding of the session's key points by watching a 14-minute excerpt available here. This segment provides a concise overview of the insights discussed by Margie Faulk.

Access the Full Webinar

For those who need detailed guidance and are looking for comprehensive strategies to navigate these changes, the full 90-minute webinar is available for purchase on our website. This package includes exclusive access to compliance tools designed to help your business adapt smoothly to these new regulations.

Purchase Full Webinar Here

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Contact Us

For any questions or further discussion about adapting to the DOL's new salary thresholds, please reach out to our support team at [email protected]