033: 3 Ways Potential Overtime Law Changes Could Impact Your Small Business

On June 21, the U.S. Department of Labor announced its proposed overtime rule is planned for release in October. So, how does this potential law change impact small businesses?

In this week's episode of 'While We Were Working', Joey and Sommer explain all you need to know about the potential overtime law changes. You'll learn the importance of having a system for tracking and authorizing overtime and a few tips on remaining compliant.

Joey and Sommer also discuss whether startups really need HR in this episode's 'Consultant's Corner.' Tune in to find out! 

Key Takeaways 

• Intro (00:00)
• Potential overtime law changes you need to know (02:13)
• Why small businesses need to understand potential law changes (05:05)
• How raising the minimum salary level could impact small businesses (07:27)
• When you should be paying attention to these new law changes (12:57)
• 'Consultant's Corner': Do startups really need HR? (16:38)
• The importance of hiring an HR advisor (19:29)
• How HR can make your business more profitable (23:58)

 

Additional Resources

📰 Article in question: 

https://www.shrm.org/resourcesandtools/legal-and-compliance/employment-law/pages/spring-regulatory-agenda-2022-proposed-overtime-rule.aspx

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Hosts: Joey Price and Sommer Ketron

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