The Pros And Cons Of Minimum Wage

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Employees who do not make at least minimum wage and classify as exempt which is now a narrower classification than before are required to be given to time-and-a-half pay after they've worked 40 hours in a week. The amendment to minimum wage permitted by law and overtime controls under the Fair Labor Standards Act will become effective Dec. 1, lifting long-standing exclusions and raising the pay limit from $23,660 every year to $47,476. Positions once thought to be executive, administrative or professional will now be liable to overtime pay also, and the pay threshold will be ordered to wage growth and updated every three years. "This [rule change] definitely will take merchants by surprise if they're not careful and don't pay attention," Mark Schulze, co-founder of smart point-of-sale system Clover, told Business News Daily. "It's a big change, so many people are affected by it." …show more content…

Department of Labor (DOL) run change giving extra time regulations, which will require the organizations to stretch out overtime protections to an expected 4.2 million employees. The requirements for employers are rapidly changing, it's imperative to track and record representatives' hours appropriately. Neglecting to do as such could prompt to mistakes and potentially even expensive lawsuits. For small businesses utilizing pen and paper or Microsoft Excel to track hours physically, the change implies additional time spent in regulatory assignments and a higher probability of mistakes. "If you are tracking time on paper, switch to an automated system," said John Waldmann, founder of employee scheduling company Homebase. "Tracking hours is complex, and the last thing you want is to be unprepared come Dec. 1 and have this catch up to you in 2017. This next month and a half is really the time to put the technological change in

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