Earlier this year, the Department of Labor (DOL) finalized the Fair Labor Standards Act which will make several changes to current overtime rules when it goes into effect on December 1, 2016. HousingWire staffer Brena Swanson takes a look at the changes that the new rule will make including increasing the White Collar Exemption salary threshold to $913/workweek (or $47,476 for a full-year worker).
Swanson goes on to explain how this rule will affect those working in the housing industry. A myth in a DOL blog debunks one myth about the new rules:
Myth: Telework and flexible schedules will be eliminated. And everyone will punch a time clock.
Truth: The FLSA is a nimble law. Employers have flexibility to choose the options that work best for their workplace, including how to keep track of hours. There’s nothing that says workers have to punch time clocks. There’s nothing that says workers have to work specific hours or in specific places.