flsa onemint overview
TRANSCRIPT
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Changes to the Fair Labor Standards Act
Customer Presentation
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Legal Disclaimer• The information provided herein is confidential. All product information is being provided for
informational purposes only, and any product information pertaining to functionality that is not currently available (“forward-looking product information”) is provided as a general outline of the future direction of our products, and, as such, is subject to change. Any forward-looking product information is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The adoption, development and timing of release of any feature or functionality described in any forward-looking product information set forth herein remain at all times at the sole discretion of our licensors.
• All information pertaining to the any legal requirement discussed herein is provided for informational purposes only and not for the purpose of providing legal advice. The application of specific laws, regulations or court decisions may affect certain organizations in a manner that is materially different than as discussed or contemplated herein, and, therefore, the application of any specific law, regulation or court decision should be reviewed carefully with a qualified attorney.
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Executive Summary• Situation:
− FLSA changes will impact an organization’s workforce management strategy− Organizations need to balance business needs, compliance risk, productivity, and
labor costs when building their workforce strategy
• Complication:− Compliance and productivity challenges with manual workforce management
environments
• Resolution:− We can help organizations optimize their workforce, minimize compliance risk,
improve productivity and reduce labor costs
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FLSA Overtime Changes FinalizedToday December 1, 2016
If an employee earns less than
$455 per week or $23,600 annually
$913 per week or $47,476 annually
Then They are eligible for overtime pay
They are eligible for overtime pay
Employees who make up to $47,476 per year will be eligible for overtime.
Effective date: December 1, 2016Automatic salary threshold increase every three years
!
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FLSA Compliance TimelineDOL EXEMPTION RULE CHANGE
321
Cross-Functional Team• HR, Finance, Operations, IT, Legal
Impact Assessment• Analyze salary
& staffing• Determine impact for workforce
& operations
Strategy• Who gets greater salary levels• Reclass to nonexempt Status• Jobs & operations restructuring
ImplementationSystem Assessment
• Assess impact to your HCM system • Design changes• Create implementation plan & budget
Configure• Make system changes• Unit test changes• Support users acceptance & go live
June-July
August-September
October-November
Effective Dec 1FLSARequirements
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Business Impact and Strategy
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FLSA Compliance TimelineDOL EXEMPTION RULE CHANGE
321
Cross-Functional Team• HR, Finance, Operations, IT, Legal
Impact Assessment• Analyze salary
& staffing• Determine impact for workforce
& operations
Strategy• Who gets greater salary levels• Reclass to nonexempt Status• Jobs & operations restructuring
ImplementationSystem Assessment
• Assess impact to your HCM system • Design changes• Create implementation plan & budget
Configure• Make system changes• Unit test changes• Support users acceptance & go live
June-July
August-September
October-November
Effective Dec 1FLSARequirements
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Create a Cross-Functional Team to Define Your Strategy
CrossFunctional
Team
Finance & IT
HR Leadership
Operations/Business
Units
LegalExecutive
Team
Do you understand the details of the regulation?Who is impacted? How many hours do these employees currently work?What is the budget impact?How will you track the time of the impacted employees? What is the impact to your human capital management (HCM) system?
What is Your Strategy?
Pay overtime? At what rate?Increase salaries?Reduce hours?Hire more employees? Full-time or part-time?What is the impact to your business metrics?
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WorkforceONE™ Management Strategy
LABOR COST
COMPLIANCE PRODUCTIVITY
ENGAGEMENT
RECRUITMENT
BUSINESS GOALS TALENT
UNION RULES
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Potential Unintended ConsequencesThe Workforce Institute
• 81% of employees work outside of standard hours
• 63% of full-time salaried employees admit they would work off the clock, even if it’s against policies
• Causes:− Long-term career goals− Urgent deadlines− Too much work− Always connected = always working
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How does it all play out?
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Mark, the Assistant Manager• Manages 20 hourly workers, works 60 hours/week
• Salary: $39,500 per year (unburdened)
• Options:− Increase salary to $47,450 and he continues to work 60 hours
per week
− Pay him overtime. New yearly compensation is $69,125
− Reduce his hours to keep him close to $39,500. • Hire part time worker for 20 hours a week at annual cost of $19,700
• Organization decides to increase his salary to $47,450 and not adjust his hours− Potential impact on retention and engagement?
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Kate, the Supervisor• Manages 10 hourly workers, works 45 hours per week
• Salary: $39,500 per year
• Options:− Increase salary to $47,450 and she continues to work 45 hours per
week
− Pay her overtime. New yearly compensation is $46,906
− Reduce her hours to keep her close to $39,500.
• Organization decides to keep her salary and pay her overtime. Try to limit her hours to 40 per week.
• Strategy:− Evaluate employee by employee or by job classifications?
− Consistency and impacts on engagement and recruitment?
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ONEMINT™ Success Strategy
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FLSA Compliance TimelineDOL EXEMPTION RULE CHANGE
321
Cross-Functional Team• HR, Finance, Operations, IT, Legal
Impact Assessment• Analyze salary
& staffing• Determine impact for workforce
& operations
Strategy• Who gets greater salary levels• Reclass to nonexempt Status• Jobs & operations restructuring
ImplementationSystem Assessment
• Assess impact to your HCM system • Design changes• Create implementation plan & budget
Configure• Make system changes• Unit test changes• Support users acceptance & go live
June-July
August-September
October-November
Effective Dec 1FLSARequirements
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ONEMINT™ Success Strategy
Adjust employees and rules
Optimize schedules
Manage overtime
Audit and report
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Adjust Employees and Rules
• Ease administration simply and efficiently through the use of employee profiles− Adjust employees to non-exempt− Update pay rules for employees− Calculate new overtime rates
Effectively manage, monitor, and adjust.
• Increase salary for Mark• Adjust Kate to Non Exempt• Adjust pay rules for Kate
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Optimize Schedules
• Build a best-fit schedule, automatically − Business needs− Compliance− Employee requirements
• Flag potential compliance issues proactively
Build the best-fit schedule based on the overall business and compliance strategy.
– Union regulations– FLSA / ACA
• Build rules to keep Kate at 40 hours per week in schedule
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Manage Overtime – Anywhere• Automate and interpret time calculations centrally
• Receive notifications of potential compliance issues
• Capture time including remote work, travel, meal, and breaks via mobile
• Enable employees to attest to time
• Automate time from punch to payroll
Simplify the administration and enforcement of policies.
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Audit and Report – Better Insight
• Audit all actions
• Historical and real-time reports enable managers to proactively manage overtime
• Dashboards provide insight into overtime trends
Understand when employees are projected to cross overtime thresholds.
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What Should You Do Right Now?
• Form Cross Functional Team to develop business strategy
• Understand impact− Determine employees impacted− Immediately start to track hours worked to allow you to evaluate options for
changes to the business and workforce strategy
• Take action− Finalize policy and communicate changes to the organization− Change Human Capital Management systems to support compliance
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ONEMINT™ Service Offerings
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System Expert
• Our Human Capital ManageMINT (HCM) solutions and service offerings are compliance enablers for your organization:
CustomerDefine Compliance
Strategy andImplement FLSA
Policy
UsProvide Solutions and
Services to Enable FLSA Compliance
We do not endorse or recommend any specific compliance strategy
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Additional Resources
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Resources
• http://www.flsa.com/coverage.html
• https://www.dol.gov/whd/overtime/final2016/
• https://www.shrm.org/legalissues/federalresources/pages/flsa-overtime-rule-infographic.aspx
• http://blog.dol.gov/2016/05/18/plenty-of-options-with-new-overtime-rule/
• How Does the New Overtime Rule Affect Your Mobile Device Policy?