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Recently, the Department of Labor issued a final rule, updating and revising regulations outlined in 13(a)(1) of the Fair Labor Standards Act. The rule addresses the exemption from minimum wage and overtime pay requirements for executive, administrative, and professional (EAP) employees and will take effect on July 1, 2024, increasing both the standard salary level […]
It’s a commonly held belief that overtime is bad for business and is only a sign of being inefficient. However, when used strategically, it can help increase profits and mitigate labor issues. “It’s not bad in itself,” says Ed Laflamme, LIC, a partner with The Harvest Group. “It’s bad because people are taking on so […]