Federal and state agencies are now hiring new auditors and committing more resources to determine noncompliance, as in the view of the IRS, the Department of Labor, the EEOC, state agencies, and trial lawyers; wage and hour issues are a “significant problem and may result in adverse consequences”.
A result of this action is that there has been an increase in employers’ exposure to liabilities associated with wage and hour issues. The announcement of the new exempt/non-exempt pay requirements has placed the issue of how organizations treat and pay exempt/non-exempt employees under review.
Clearing the confusions
To offer a clear understanding of all these aspects; TrainHR, a leading provider of professional trainings for the HR industry, will be organizing a webinar. Ronald Adler, who is the president-CEO of Laurdan Associates, Inc., will be the speaker at this webinar, to register for which, just visit http://bit.ly/2eFLXfa
An additional problem is that the Department of Labor (DoL) will be reviewing how various important issues such as employees’ exempt and nonexempt status, how employers calculate “regular wages”, and how they calculate overtime, are determined. In view of all these, employers must take proactive measures to:
- Prevent wage and hour violations
- Correct pay errors when they do occur
- Publish a notice that they are committed to compliance
- Demonstrate that they are committed, through effective governance and risk management practices, including internal audits, to ensuring the proper treatment of employees.
Optimizing human capital
At this webinar, Ronald will also equip participants with an understanding of how to optimize human capital, something that is both the biggest revenue earner and asset for the organization and the source of the highest expenditure. Getting this right will have a major impact on the organization’s bottom line.
Decisions regarding wage and hour decisions and policies get affected by various factors such as the economy, industry practices, competitive factors, financial resources, business objectives and imperatives, corporate culture and values, diversity and EEO goals, the use of performance management systems, and actual and perceived risks. Ronald will show how participants’ organizations must consider these factors in formulating a compensation policy that achieves external and internal pay equity.
Practical compensation decisions
The scramble for talent makes it imperative for organizations to adapt very pragmatic decisions about compensation, which should address and help overcome important challenges such as difficulty in hiring and retaining talent, increases in hiring and retention costs, turnover costs, and per position payroll taxes.
The meticulous and detailed manner of planning for and implementing FLSA’s new compliance procedures, which requires advanced planning, continuous maintenance, and ongoing review to ensure compliance, will be imparted at this webinar.