The U.S. Department of Labor’s proposed changes to minimum wage and overtime regulations might lead to pay increases for employees of businesses in Colorado Springs, according to a news release sent by the Colorado Springs Regional Business Alliance. What that means for the business owners is the topic of an event sponsored by the Alliance.
The event takes place from 8-10 a.m. Tuesday, Aug. 25, at the Hotel Eleganté, 2886 S. Circle Drive. Registration opens at 7:30. Keynote speaker is Michelle Jacobsen of the Mountain States Employers Council.
The DoL recently released proposed changes to the minimum wage and overtime rules of the Fair Labor Standards Act. The changes could make nearly 5 million workers eligible for overtime compensation if they earn less than $50,000 a year, the release said. The DoL estimates 70 percent of employers are not in compliance with the FLSA, and it recovered more than $240 million in back wages in the last fiscal year, the release said.
The planning seminar will help business owners manage the potential risk, including:
- An explanation of overtime rules and available exemptions;
- A detailed overview of the proposed changes – What does 100 pages from the DoL mean in plain language?
- Identify potential impacts – How much will it cost and how will this change my business?
- Compliance strategies – What should I do today that could help my business tomorrow?
- How can I voice my opinions about the proposed changes?
To register or for questions, call Shawn Seaford at 884-2832 or log on here.