KARLO Insights Blog
The DOL's New Rule on White-Collar Exemptions: Key Changes and Implications for Employers
On April 23, 2024, the Department of Labor's Wage and Hour Division announced a final rule revising salary thresholds for white-collar exemptions under the FLSA, effective July 1, 2024, and January 1, 2025. These changes raise the minimum salary for exempt employees and highly compensated employees, with further adjustments every three years. Employers are advised to review employee classifications, adjust compensation structures, and update payroll systems to comply. Legal challenges may impact enforcement, so staying informed on legal developments is crucial for maintaining compliance
The $15 Minimum Wage Fight: Biden vs. the 5th Circuit and the Future of Government Contracts
President Biden's ambitious plan to raise the minimum wage for government contractors to $15 hit a roadblock after a Texas judge ruled the Department of Labor lacked authority. Biden argues for the increase based on existing laws, while small businesses worry about increased costs and reduced competition. The legal battle, currently appealed, will influence both the fate of the $15 wage and the DOL's future regulatory power in the sector.
Gearing Up for $15: How Maryland Small Businesses Can Thrive in the New Minimum Wage Landscape
As Maryland sets sail into the $15 minimum wage waters, navigating its impact on small businesses becomes the top priority. This article charts the course, exploring both the challenges, like absorbing increased costs, and the potential opportunities, like enhanced productivity and customer focus. For small business owners – we'll equip you with trending tips to help you not just stay afloat, but thrive in this new economic tide.