State:
Free Special Resources
Get Your FREE Special Report. Download Any One Of These FREE Special Resources, Instantly!
Featured Special Report
Claim Your Free Cost Per Hire Calculator
This handy calculator lets you plug in your expenses for recruiting, benefits, salaries, and more.

Graphs automatically generate to show you your annual cost per hire and a breakdown of where you are spending the most money.

Download Now!
July 06, 2004
Study Finds Some Companies May Miss OT-Reg Deadline


For a Limited Time receive a FREE Compensation Market Analysis Report! Find out how much you should be paying to attract and retain the best applicants and employees, with customized information for your industry, location, and job. Get Your Report Now!

Twenty percent of large companies believe they will miss the August 23 deadline for bringing their companies into compliance with new regulations governing overtime eligibility, according to a study by Hewitt Associates.

Hewitt surveyed more than 150 major companies and found that another 23 percent said they will meet the required date, but only with additional resources allocated to the effort. Among those that need more time, the median is an additional 80 days beyond the deadline.

 

The Self-Audit Guide:
Your Key to FLSA Overtime Compliance

Would you like a detailed guide for how to conduct an audit of your company against the new rules without spending thousands of dollars on legal fees? BLR's new Wage & Hour Self-Audit Guide will help. It is an inexpensive, portable, easy-to-use, and expansive resource designed to take human resources professionals through a complete audit of their wage and hour policies and practices to determine whether their company is in violation of the law. Now available in book and download versions.

In April, the U.S. Department of Labor (DOL) published new regulations redefining the "white-collar" exemption tests used to determine whether an employee must be paid overtime. The new rules will be enforced beginning August 23.

The most significant issues in complying with FLSA legislation involve categorizing current jobs and interpreting new FLSA rules, according to the study. Specifically, 26 percent of companies said their biggest challenge is that existing job documentation is old, incorrect, or inconsistent. Another 24 percent said their primary issue involves understanding the new rules.

"Many companies have a considerable road in front of them, as they need to sort through existing job titles and codes before they can determine what needs to be done with the new FLSA regulations," says Tom Farmer, senior consultant for Hewitt Associates. "Organizations have to ensure that they properly classify positions by employees, examine variations in job duties by department and clarify overly generic job titles. This is a daunting task, especially as we pass the halfway mark to comply."

Hewitt's study also found that most companies have yet to determine the financial impact of the FLSA changes and have yet to communicate the impact of the changes throughout their organizations.

Link


Featured Free Resource:
Cost Per Hire Calculator
   
   
 
 
Twitter  Facebook  Linked In
Follow Us
CT-WEB02
Copyright © 2016 Business & Legal Resources. All rights reserved. 800-727-5257
This document was published on http://Compensation.BLR.com
Document URL: http://compensation.blr.com/Compensation-news/Compensation/FLSA-Fair-Labor-Standards-Act/Study-Finds-Some-Companies-May-Miss-OT-Reg-Deadlin/