Counsel Fanny Ferdman suggests steps that employers should take to comply with the 2024 overtime rule in an article for SHRM titled “July 1 Deadline for Overtime Rule is Nearly Here.” Published June 27, 2024, the article stresses that preparation should move forward even if the new rule is legally challenged. Upon reviewing salaries and deciding if employees should receive a salary increase to meet the new guidelines or be reclassified, employers should:
- Finalize the list of exempt employees who will receive salary increases.
- Determine the hourly rate for reclassified employees.
- Add the reclassified employees to the timekeeping system.
- Adjust schedules for reclassified employees, including overtime, meal periods and rest periods.
- Train reclassified employees to record their time and make sure managers understand what the nonexempt status means for scheduling, timekeeping, break times and overtime.
- Coordinate with payroll to make sure reclassified employees are paid overtime in accordance with applicable law.
Read the article. (subscription required)