Elevate, Inc. attends the Greater Tampa Chamber’s Competitive Edge Series featuring Ed Suarez of Gunster Law!
On June 30, Elevate Inc. Team members participated in The Greater Tampa Chamber’s series called Competitive Edge. The Competitive Edge Series is an educational program of The Greater Tampa Chamber of Commerce. These classes offer attendees new skills and information that can be implemented into their businesses. This particular event focused on the upcoming changes to overtime pay for employees and how it effects businesses.
Ed Suarez, an attorney with Gunster Law Tampa addressed The Fair Labor Standards Act and discussed the overview of its requirement and how that relates to businesses. With the new provisions, businesses must raise salary thresholds indicating eligibility from $455/week to $913/week, update salary thresholds every three years based on wage growth, and raise compensated employee threshold from 100k-134k. This law is required to be in full effect by December 1, 2016. Obviously, businesses will need to adjust and begin planning how they will properly enact this new rule. Mr. Suarez discussed the multiple effects on businesses, such as how the rule can be interpreted for overtime pay by employees and employers, different approaches employers may take to adjust their company to the law, and which employees are affected by this. By holding this presentation, The Greater Tampa Chamber was able to inform their members and better prepare them for the upcoming changes.
To learn more about The Greater Tampa Chamber click here!
Categorized in: Work
This post was written by Elevate, Inc.