Are you ready for the new overtime rules?

Description

Abstract: Since the 1930s, U.S. businesses have relied on rules detailed in the Fair Labor Standards Act (FLSA) to determine which employees are eligible to receive overtime pay. These rules are scheduled to change on December 1, 2016, for the first time in over a decade. This article explains what the law requires and why it’s important for dealer-owners to review positions at their dealership. Strategies to lessen the financial impact of the expected rules also are discussed. A sidebar highlights the three tests that can be used to determine whether or not an employee is considered exempt from overtime-wage regulations.