{"id":7516,"date":"2019-12-11T09:51:25","date_gmt":"2019-12-11T14:51:25","guid":{"rendered":"https:\/\/gtm.com\/business\/?p=7516"},"modified":"2021-03-27T16:08:10","modified_gmt":"2021-03-27T20:08:10","slug":"make-overtime-pay-compliance-easier","status":"publish","type":"post","link":"https:\/\/gtm.com\/business\/make-overtime-pay-compliance-easier\/","title":{"rendered":"How to Make Overtime Pay Compliance Easier"},"content":{"rendered":"<p><em><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-7517\" src=\"https:\/\/gtm.com\/business\/wp-content\/uploads\/hand-2722108_1920.jpg\" alt=\"make overtime pay compliance easier\" width=\"1024\" height=\"683\" srcset=\"https:\/\/gtm.com\/business\/wp-content\/uploads\/hand-2722108_1920.jpg 1024w, https:\/\/gtm.com\/business\/wp-content\/uploads\/hand-2722108_1920-980x654.jpg 980w, https:\/\/gtm.com\/business\/wp-content\/uploads\/hand-2722108_1920-480x320.jpg 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1024px, 100vw\" \/>Changes to wage and labor laws mean changes to your payroll processing. If you&#8217;re not using a good system to track employee pay rates and easily modify them based on new regulations, you could be in for a lot of extra work to stay compliant. Whether you need to follow the new FLSA overtime rule or you have state laws that supersede the federal law, like <a href=\"https:\/\/gtm.com\/business\/new-york-employment-laws-in-2020\/\" target=\"_blank\" rel=\"noopener noreferrer\">in New York<\/a>, <a href=\"https:\/\/blog.isolvedhcm.com\/how-your-hcm-solution-can-make-flsa-overtime-pay-compliance-easier\">our HCM partner isolved<\/a> offers this perspective on how your technology can make overtime pay compliance easier.<\/em><\/p>\n<h2>How your HCM solution can make FLSA overtime pay compliance easier<\/h2>\n<p><span lang=\"EN\">Effective Jan. 1, 2020, employers across the nation will ring in the new year with evolving employee salaries and job responsibilities &#8211; potentially.<\/span><\/p>\n<p><span lang=\"EN\">The U.S. Department of Labor\u00a0<a href=\"https:\/\/www.dol.gov\/agencies\/whd\/overtime\/2019\/index\">updated the Fair Labor Standards Act salary thresholds<\/a>\u00a0for administrative and professional employees (white-collar jobs), known as the \u201covertime rule,\u201d the first change in 16 years.<\/span><\/p>\n<p><span lang=\"EN\">The result? Increase annual salaries for workers currently earning less than $35,568 or pay them overtime for any hours worked beyond 40 hours in a workweek.<\/span><\/p>\n<p><span lang=\"EN\">HR managers, payroll administrators and budget-conscious directors employed at companies who fall under these revised guidelines now have their work cut out for them: updating their companies\u2019 internal systems and pay scales.<\/span><\/p>\n<h3><span lang=\"EN\">Time and attendance tracking<\/span><\/h3>\n<p><span lang=\"EN\">An\u00a0<a href=\"https:\/\/gtm.com\/business\/what-we-offer\/hcm-time-and-attendance\/\" target=\"_blank\" rel=\"noopener noreferrer\">HCM platform like isolved\u00a0<\/a>tracks all data points related to employee time and attendance, even telecommuters.<\/span><\/p>\n<p><span lang=\"EN\">You gain visibility into:<\/span><\/p>\n<ul>\n<li><span lang=\"EN\">When someone clocks in and out.<\/span><\/li>\n<li><span lang=\"EN\">When breaks or lunches are taken.<\/span><\/li>\n<li><span lang=\"EN\">Timesheet errors.<\/span><\/li>\n<li><span lang=\"EN\">Comp time calculations.<\/span><\/li>\n<li><span lang=\"EN\">Overtime.<\/span><\/li>\n<li><span lang=\"EN\">Shift-building and resource planning.<\/span><\/li>\n<\/ul>\n<h3><span lang=\"EN\">Automated report-building<\/span><\/h3>\n<p><span lang=\"EN\">As you can imagine, the level of granularity listed above provides a one-stop command center for managers and supervisors. They can drill down into any type of employee indicator they need, and they can also receive automated reports that compile all this information into action items.<\/span><\/p>\n<p><span lang=\"EN\">These reports can generate comprehensive lists of every employee who may be impacted by the FLSA change and their historical hours and earnings.<\/span><\/p>\n<p><span lang=\"EN\">Rather than having to track down this information yourself, it\u2019s provided to you in a configurable, visualized dashboard.<\/span><\/p>\n<h3><span lang=\"EN\">Financial forecasting<\/span><\/h3>\n<p><span lang=\"EN\">As you dive into the full scope of how your organization may be affected by the FLSA change, you\u2019ll need a mechanism for estimating the financial impact underlying any sort of transformation your business may undergo.<\/span><\/p>\n<p><span lang=\"EN\">An HCM system can help forecast shifting business expenses, empowering you to make proactive decisions on whether:<\/span><\/p>\n<ul>\n<li><span lang=\"EN\">An employee will need a raise.<\/span><\/li>\n<li><span lang=\"EN\">An employee can work fewer hours.<\/span><\/li>\n<li><span lang=\"EN\">An employee should have duties revised.<\/span><\/li>\n<\/ul>\n<p><span lang=\"EN\">Doing this at scale, across every employee, allows you to see which moves make the most financial sense for your company.<\/span><\/p>\n<h3><span lang=\"EN\">Company-wide communications<\/span><\/h3>\n<p><span lang=\"EN\">To appropriately broadcast any company changes to your organization, an HCM solution can simplify comms, publicize necessary updates and filter conversations and questions to the right channels.<\/span><\/p>\n<p><span lang=\"EN\">With the overtime pay rule change projected to impact 1.3 million workers, make your life easier with modern HCM software like isolved, which has built-in reporting that will give you insights into which of your employees may be impacted by the new overtime rule.<\/span><\/p>\n<p><a href=\"https:\/\/gtm.com\/business\/hcm-and-hris-demo-request\/\">Request a free demo today<\/a> to see isolved in action and learn more about how it will help your business.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>When it comes to managing employee pay rates, your technology can make overtime pay compliance easier.<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[232],"tags":[79,34,54,15],"post_folder":[],"class_list":["post-7516","post","type-post","status-publish","format-standard","hentry","category-gtm-biz-blog-isolved","tag-compliance","tag-flsa","tag-overtime","tag-wage-rate"],"_links":{"self":[{"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/posts\/7516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/comments?post=7516"}],"version-history":[{"count":5,"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/posts\/7516\/revisions"}],"predecessor-version":[{"id":9403,"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/posts\/7516\/revisions\/9403"}],"wp:attachment":[{"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/media?parent=7516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/categories?post=7516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/tags?post=7516"},{"taxonomy":"post_folder","embeddable":true,"href":"https:\/\/gtm.com\/business\/wp-json\/wp\/v2\/post_folder?post=7516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}