Exempt Salary Updates: Understanding the Latest Changes in Exempt Salaries

Join Matt as he breaks down the upcoming changes to the minimum salary requirements for exempt employees. With over 3 million employees affected, it's crucial for employers to stay informed and compliant.
In this episode, Matt shares his extensive experience working with small businesses to help you understand the new regulations, evaluate your team's pay, and mitigate potential liabilities.
• Changes in minimum salary thresholds starting July 2024 and January 2025
• Strategies for compliance and avoiding wage compression
• Actionable steps to ensure your organization is prepared
Key Takeaways:
1. Understand the new salary thresholds and their impact on your organization.
2. Proper classification of employees as exempt or non-exempt is critical to avoid costly back wages and penalties.
3. Employers need to evaluate their team’s salaries and consider possible reclassification, wage adjustments, or adding employees to maintain compliance and morale.
► TIME STAMPS
0:00 - 1:26 - Intro
1:27 - 2:55 - Matt’s Experience and Background
2:56 - 6:09 - Updates on Minimum Salary Requirements for Exempt Employees
6:10 - 7:52 - How does Somebody Qualifies as Exempt?
7:53 - 9:36 - What can you do moving forward?
9:37 - 11:04 - What are your Options?
11:05 - 11:26 - Visit guHRoo
11:27 - 11:41 - Outro
Thanks for watching!
►WATCH NEXT
✓The ONLY Four Ways You Can Generate Leads
✓Unlock the Secrets to Scaling Your Payroll Business
👉Enjoying the show? Subscribe Now!
►Are you enjoying Payrollin'? Please subscribe and rate us five stars on your player of choice. It helps us continue to improve.
• UA-cam - • Payrollin' Podcast
• Apple - podcasts.apple.com/us/podcast...
• Google -podcasts.google.com/feed/aHR0...
• Spotify - open.spotify.com/show/5m5xhzo...
►Want to be featured in a future episode? Drop your question/comment/criticism/love here: anchor.fm/payrollin/message
👉About the Host
Find Matt on LinkedIn here: / mattvaadi
👉Resources
Marketing Case Study - How we 10x’ed Our Inbound Leads - www.guhroo.co/case-study/
Three Keys to Expand Your Payroll Business - • Three Keys to Expand Y...
Selling in a Virtual World - • Video
Get 42 free HR templates: go.guhroo.co/25-free-hr-templ...
Exempt Salary Updates: Understanding the Latest Changes in Exempt Salaries | HR Simplified

[@guhroo]

👉Resources
Marketing Case Study - How we 10x’ed Our Inbound Leads - www.guhroo.co/case-study/
Three Keys to Expand Your Payroll Business - ua-cam.com/video/6aW8RmVj8OE/v-deo.html
Selling in a Virtual World - www.youtube.com/watch?v=Xkypu...

[@montanausa329]

So do salary employees have to punch a time clock or do you just pay them for whatever they say. This will fail miserably. How to you pay business meetings how about answering a phone call