New FLSA Affects Half Million Employees in the Northeast
The Department of Labor (DOL) estimates that the new Fair Labor Standards Act (FLSA) overtime rule will extend coverage to 4.2 million workers across the country in 2016. Approximately 469,000 of the newly eligible are located in the Northeast. How many of these people do you employ
Complete Payroll Solutions (CPS) has provided a map, courtesy of the DOL, that shows the increase in the number of non-exempt employees per state when this the new rule takes effect in December 2016. The numbers may surprise you. In Massachusetts alone, close to 85K employees’ status will change.
With estimated spending expected to exceed a half billion dollars to comply with the new regulations, we have isolated a few statistics for customers and neighboring businesses as you begin to adjust your own budgets to adapt to the new FLSA overtime standard.
As the Northeast’s leading expert and HR solutions provider, CPS is dedicated to providing up-to-minute resources that keeps your company compliant through the adaptation of the new FLSA legislation. As you begin to make company-wide changes that will accommodate these requirements without negatively affecting your bottom line, talk to our experts to learn alternative strategies that can help you save money during this transition.
CPS can work with you to analyze workflows and employee status to determine how this will impact your 2017 budget. Now would be an opportune time to automate time and labor with user-friendly tracking systems that save money and eliminates errors in payroll. It will also make subsequent amendments every three years, as suggested by the DOL, easier to accommodate moving forward.
The December 1st deadline to comply will be here faster than you think. Contact CPS to ease into the new FLSA regulations with HR solutions that are tailored to meet the needs of your individual business.
In order to keep your company compliant, it’s important to receive regular updates and notifications of changes to State and Federal regulations. At Complete Payroll Solutions (CPS), we make it our priority to keep clients informed of all amended laws, and any pending or upcoming changes that could have an impact on their HR Department. To learn more about our compliance services and support, and ways CPS is helping companies with all aspects of HR, give us a call at 866.658.8800.
Whether you are looking for time and attendance solutions, help with compliance, or a way to fully outsource your business processing, we can put together a custom package for you. Watch what our solutions can do, and fill out the form to talk to one of our experts on getting started.