Join Matt as he breaks down the upcoming changes to the minimum salary requirements for exempt employees. With over 3 million employees affected, it's crucial for employers to stay informed and compliant.
In this episode, Matt shares his extensive experience working with small businesses to help you understand the new regulations, evaluate your team's pay, and mitigate potential liabilities.
• Changes in minimum salary thresholds starting July 2024 and January 2025
• Strategies for compliance and avoiding wage compression
• Actionable steps to ensure your organization is prepared
Key Takeaways:
1. Understand the new salary thresholds and their impact on your organization.
2. Proper classification of employees as exempt or non-exempt is critical to avoid costly back wages and penalties.
3. Employers need to evaluate their team’s salaries and consider possible reclassification, wage adjustments, or adding employees to maintain compliance and morale.
► TIME STAMPS
0:00 - 1:26 - Intro
1:27 - 2:55 - Matt’s Experience and Background
2:56 - 6:09 - Updates on Minimum Salary Requirements for Exempt Employees
6:10 - 7:52 - How does Somebody Qualifies as Exempt?
7:53 - 9:36 - What can you do moving forward?
9:37 - 11:04 - What are your Options?
11:05 - 11:26 - Visit guHRoo
11:27 - 11:41 - Outro
Thanks for watching!
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Exempt Salary Updates: Understanding the Latest Changes in Exempt Salaries | HR Simplified
