What Benefits Will Be Seen from the Overtime Rules Change?
Overtime laws in this country are about to change. In December, the threshold for exempt salaried workers will be $47476. This is nearly double what it is currently. When we talk about the threshold for salaried workers, we mean who is exempt from overtime pay if they work beyond forty hours a week. If you make less than $47476, your employer will no longer be able to classify as exempt, meaning you will earn time and a half if you work beyond forty hours a week.
Now obviously, there will be some changes that employers and employees should be aware of. First and foremost, labor costs for employers will obviously go up. Beforehand, salaried employees making more than the previous threshold could work as many hours as they needed to and it wouldn't cost the employer a dime after he or she hit the forty mark. Now, it will for a much larger portion of the workforce.
So how will employers respond to the changes? They will need to hire more people obviously to fulfill the necessary work. This means a better quality of life for many people who were working 60-70 hours a week. In addition to that, many employers will have to pay them more by the hour to ensure that their salary remains the same, it will be a win-win for employees.
However, it's important to know your rights under the new overtime rules change. There will be some employers out there who may not inform you of your rights or proceed with the rule change, and this is unacceptable. if you find that this happens to you after December 1, contact an overtime lawyer and receive the compensation you deserve.