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The PrestigePEO Perspective – May 2024

Important Compliance Updates for Business Owners to Know
U.S. Department of Labor’s New Salary Thresholds Will Have Huge Workforce Impacts: What Employers Need to Do Now to Be Ready

U.S. Department of Labor’s New Salary Thresholds Will Have Huge Workforce Impacts: What Employers Need to Do Now to Be Ready

As of April 23, 2024, the US Department of Labor (DOL) has finalized the new salary requirements for “white collar” salary-exempt and highly compensated employees. The new regulations will be incrementally imposed over the next few months.

New Thresholds and Deadlines:

  • Raised salary thresholds for administrative, executive, and professional (EAP):
    • July 1, 2024: $43,888 annualized
    • January 1, 2025: $58,656 annualized
  • Raised salary thresholds for highly compensated employees:
    • July 1, 2024: $132,964
    • January 1, 2025: $151,164

Action Items for Employers: Employers need to take steps to ensure compliance with the increased DOL thresholds. Identify the employees who may be affected by these thresholds so that you can plan for any changes necessary.

Deciding how to classify your employees can be difficult, and mistakes can be costly. PrestigePEO provides expert HR guidance so that you can make informed decisions, remain in compliance with regulations, and prepare for what comes next. HR consulting is an extremely valuable tool for employers. Learn more about our HR services below.

FTC Issues Final Rule on Non-Compete Bans

FTC Issues Final Rule on Noncompete Bans

On April 23, 2024, the Federal Trade Commission (FTC) issued a final rule banning virtually all noncompete agreements. The Rule makes noncompete clauses unlawful and states that it is unfair and prohibited for a person to enter into or enforce a noncompete clause. Certain exceptions apply to the types of workers and employers impacted by the Rule, as well as an exception for “senior executives.”

Employers should review any existing noncompete clauses in your company and prepare for the upcoming changes. Consider alternative agreements and take steps to prevent noncompliance.

The Rule is scheduled to become effective 120 days after publication, approximately September 4, 2024. However, lawsuits challenging the Rule were filed within hours of the FTC’s vote. This issue will likely be taken to the Supreme Court.

Learn more about our compliance services at the button below.

New York State Lawmakers Pass 2024-2025 Budget: Employers Need to Take Notice

New York State Lawmakers Pass 2024-2025 Budget: Employers Need to Take Notice

New York State Lawmakers have passed the 2024-2025 budget, which includes three provisions that employers need to plan for.

  • Prenatal leave: Employers must provide 20 hours of paid prenatal leave yearly. This protected leave allows employees to make pregnancy-related medical appointments, such as procedures and tests. This is in addition to the paid sick leave that is already required. The prenatal leave law takes effect on January 1, 2025.
  • Nursing leave: New York is also requiring paid nursing leave for mothers who need time to express breast milk during the workday. As of June 19, 2024, employers will be required to provide paid 30-minute nursing breaks.
  • COVID-19 leave law: The COVID-19 leave law will end on July 31, 2025. Until then, employers are required to comply with the leave law.

Our team regularly provides compliance updates to PrestigePEO clients, informing them of necessary actions and providing essential assistance. If you’re ready for compliance support, contact us today.

Interested in Learning More About The FTC and DOL New Rules

Interested in Learning More About The FTC and DOL New Rules?

Download Our Recent Webinar Recording For Insights

In this recent webinar recording, the PrestigePEO compliance team provided in-depth insights into the final overtime rule and a final noncompete rule. If you missed this highly popular webinar, please download the recording to hear the important highlights. We will also be hosting follow-up sessions on this topic as the situation unfolds over the next few months. Stay tuned on upcoming editions of the PrestigePEO Perspective Newsletter to ensure you don’t miss any critical updates from our webinar series.

5 Simple Tips for Choosing the Best Candidate

5 Simple Tips for Choosing the Best Candidate

Hiring is a crucial part of any business, as your employees are integral to everything you do. As it’s impossible to predict how someone will perform in a role, it can be difficult to know which candidate to choose. Here are Rhonda Wheelous’ 5 simple tips to help you with your next interview!

  1. Prepare an interview guide: When you prepare to interview candidates, start by preparing an interview guide with relevant, job-related questions to get a better understanding of the candidate’s skills. Ask a variety of questions to get a full picture of their behavioral and situational abilities. This guide will ensure that you have a roadmap of what to ask during your interview.
  2. Take notes: It’s hard to remember everything that transpires in the meeting, so be sure to take notes. This will help you evaluate the interview.
  3. Ask others to interview candidates: Having more than one opinion helps you be impartial and gain a well-rounded understanding of the candidate. Be sure to have more than one person interview the candidate.
  4. Evaluate candidates: After interviews have concluded, meet with your colleagues and share your thoughts. Having more than one perspective is valuable during the interview process.
  5. Make selections based on qualifications: With the interview gained from your conversation with the candidate, the opinions of your colleagues, and the candidate’s qualifications, you should be able to make an informed decision.

PrestigePEO can support you with guidance on interviews, developing job descriptions, and applicant tracking. Contact us today to learn more.

Mental Health Awareness Month

May is Mental Health Awareness Month

More than 1 in 5 US adults live with a mental illness. Join us in recognizing the importance of this month by sharing relevant materials with your team. Together, we can combat the stigma of mental illness.

The crisis and suicide hotline is 988. It provides 24/7, free, and confidential support for people in distress, prevention and crisis resources for you or your loved ones, and best practices for professionals in the United States. Mental health benefits are a highly desired benefit by many employees, and we’re proud to offer simple solutions to your needs. Our Employee Assistance Program and Monument Alcohol Counseling both provide helpful resources to those in need. Read more about the importance of mental health benefits at the link below.

National PEO Week

Celebrating National PEO Week!

PrestigePEO is excited to celebrate National PEO Week, which takes place from May 19-25! We will be attending NAPEO’s Capitol Summit in Washington, D.C. This event will allow leading PEOs like ours to meet with lawmakers and educate them on the critical role that PEOs play in supporting businesses across the country. PrestigePEO is always proud to offer competitive employee benefits, efficient administrative support, and helpful HR resources. We will continue to make strides and grow our clients’ businesses to new heights.

Ready to learn how a PEO can benefit your business? Read the blog post below.

How Can A PEO Partnership Solve Your Workplace Challenges?

How Can A PEO Partnership Solve Your Workplace Challenges?

There are so many everyday tasks that business owners must manage. All are important, but it’s challenging to find a balance so that you can accomplish your business goals. Rather than hiring multiple service vendors, and trying to coordinate with different teams, business owners can utilize the valuable solutions of a PEO. Below, we’ve illustrated just some of the pain points that a PEO can solve.

Get started today – let us show you how we can solve your problems.