Are you ready? iSolved is.
Being able to accurately track time is everything when it comes to the FLSA. Employers have more hourly employees that they need to track. Monitoring overtime is more important now than ever before!
In September, the Department of Labor announced a final rule relating to the Fair Labor Standards Act (FLSA), which impacts regulations around overtime. It requires that exempt employees earning $684 per week or $35,568 per year (or less) now qualify for overtime pay when they work more than 40 hours in a week. It also raises the minimum salary for highly compensated employees.
The new regulations are scheduled to go into effect on January 1, 2020.
January 1 will be here before you know it. It’s crucial to start implementing new processes now to make sure your organization is prepared.
Having an accurate time-tracking system is critical so that you know exactly who is eligible for overtime pay under the updated FLSA regulation. Managing employee time and attendance doesn’t have to be time-consuming.
With iSolved, you can easily track the hours worked and monitor overtime for all of your employees.
Time Collection, Processing and Reporting features that your organization needs to manage the new FLSA requirements with ease.
The built-in reporting tool in iSolved has you covered. Our FLSA Exemption Threshold Report gives you a detailed list of all of your employees who currently fall beneath the new threshold.
The report also shows whether the employee passes or fails the pay requirements under the new threshold, allowing you to see what employees require a change at a glance.
On the report, another column includes required pay change information for those who fail to meet the new requirement.
This feature helps companies visually see the financial impact that will occur as a result of raising the salaries of exempt employees so that they no longer fall beneath the updated threshold.
This allows supervisors to quickly pull reports and see which of their employees are nearing the overtime threshold. Say goodbye to tedious manual time-tracking processes or not knowing what hours your employees have worked until it’s too late and overtime pay is required.