Are Your Exempt Employees Really Exempt? What the New DOL Overtime Rule Means for Your Company-Are Your Exempt Employees Really Exempt

Video Transcription

Video Summary

In a video transcript, the presenters discuss new rules implemented by the Department of Labor regarding exempt employee status and overtime pay. The new rules state that in order to be considered exempt from overtime pay, an employee must make at least $913 per week. This is a significant increase from the previous minimum salary of $455 per week. The presenters explain that the new rules are an attempt to update the salary threshold and bring it in line with 21st century standards. They also discuss the exemptions for executive, administrative, and professional employees and the importance of properly classifying employees to avoid Fair Labor Standards Act liability. The presenters emphasize the importance of maintaining accurate time records for all employees and the need for communication and planning in implementing the changes. They also address questions from the audience regarding specific job roles and state regulations. Overall, the presentation focuses on the new rules regarding exempt employee status and provides guidance on how to comply with the updated regulations.

Keywords

video transcript

Department of Labor

exempt employee status

overtime pay

new rules

minimum salary

21st century standards

executive employees

compliance