Essential Facts about the new DOL Overtime Exemption Rules

 

Essential Facts about the new DOL Overtime Exemption Rules

by Samantha Yurman, JD,

As published in the Summer 2016 Issue of ACCE Chamber Executive Magazine

In May, the U.S. Department of Labor (DOL) announced the publication of a final rule amending the white collar overtime exemptions to the Fair Labor Standards Act (FLSA). The final rule, increases the threshold salary for the exemption to $913 per week ($47,476 per year), the standard salary level at the 40th percentile of earnings of full-time salaried workers in the lowest-wage Census Region (currently the South). The new rule also increases the total annual compensation requirement needed to exempt highly-compensated employees (HCEs) to $134,004 per year and established a mechanism for automatically updating the salary and compensation levels every three years to maintain the levels at the above percentiles and to ensure that they continue to provide useful and effective tests for exemption.  READ MORE

What does it mean to be an “innovator?

Innovation

When you hear the word, what do you think of? If your answer is Steve Jobs, Elon Musk or Google, you’re not alone. In an ever-changing world, innovation is the key to staying ahead of the game. By sitting back and sticking with what may have worked a couple years ago, you’ll quickly find yourself left behind by the people who knew better than to become complacent. Complacency is one trait you won’t find an innovator. They are always looking for ways to improve the way we do things, whether it’s a new product, a new process, or just a better approach altogether.

At Leadercast, we celebrate The Brave Ones who, with unrelenting boldness, dared to challenge the status quo. These people are who have paved the way for life as we know it. Innovation isn’t something that happens by accident. The greatest innovators in history were intentional about the change they wanted to see.

So what exactly does it mean to be an “innovator?” Three things we’ve noticed that separate the innovators from the rest of the world: vision, bravery and accountability. The greatest innovators of our time were unapologetic about their vision because they could see something the rest of us couldn’t. They were usually their own toughest critics and were constantly evaluating how they could do better. One of the most nerve-wracking things you can possibly do is put your life’s passion out there to be subject to the criticism of the world. Instead of worrying about the “what if’s,” they had the courage to put it all on the line. And we are thankful they did.

Additionally, it’s important to know that an innovator isn’t someone who never fails; it’s someone who has probably failed time and time again, but refuses to accept defeat. Take Steve Jobs for example, he was actually fired from Apple in 1985. He admitted in his famous 2005 Stanford speech that it was a very public failure, but without that event, he probably wouldn’t have gone on to be as successful as he was.

If there is one thing you can always count on, it’s that things will change. If you’re not on the front end of that change, you must at least be ready to embrace it. Read more about innovation in our free report or hear it first hand from innovators around the world on Leadercast Now.

Good Shepherd Hospital Wins Lantern Award

Advocate Good Shepherd Hospital Presented with Prestigious Lantern Award from the Emergency Nurses Association

Barrington, Ill – Advocate Good Shepherd Hospital has been recognized for its commitment to exceptional patient care as a recipient of the Emergency Nurses Association Lantern Award. The award recognizes a select group of emergency departments that exemplify exceptional practice and innovative performance in the core areas of leadership, practice, education, advocacy and research. All emergency departments are eligible to apply for the Lantern Award, but those selected must meet the highest excellence standards. The Good Shepherd Hospital ED is only one of 11 hospital EDs nationwide to receive the Lantern Award this year.

READ FULL PRESS RELEASE

Katie Van Diggelen owner off Crystal Lake Awarded Tom Stock Servant Leadership Award

Inaugural Servant Award Goes to Local Business Woman

 

Crystal Lake, IL, May 28th 2015—The Inaugural Tom Stock Servant Leadership Award was presented to Katie Van Diggelen, owner of Achieve Footwear and New Balance Crystal Lake, at the Crystal Lake Chamber of Commerce 75th Annual Dinner Party. The annual dinner is designed to celebrate the history, leadership and success of local businesses leaders. Men and women who dedicate their time to improving their communities.

 

Such a man that embodied those values was the late Tom Stock, passing at 55 years of age. Tom was as dedicated a man as they come, having spent his entire working career at Northwestern Mutual and his personal life with his one love of 30 years, Julie. Religious education, Salvation Army bell ringing, serving on zoning boards, raising funds and volunteering with the Crystal Lake Chamber of Commerce are just a few of the many ways Tom served his local communities. A person that touched more lives than he likely realized.

 

So too is our award winner Katie. Citied at the event was Katie’s volunteering in the community and helping tirelessly in charity work for; Girls on the Run, Babe Ruth, seniors, veterans, students, park districts, com-munity harvest, raffles, expos, party in the plaza and local library reading programs, as well as a dedicated presence in the Crystal Lake Chamber of Commerce. Much like Tom, Katie literally does too much to adequately represent the time and energy put into their local communities and all the individuals they help.

 

If this short write up reaches you and you are someone that is either already dedicating your energy, time or money for a good cause or are a person looking to get involved, then please reach out to Katie and her staff (815) 444.7239, the Crystal Lake Chamber of Commerce (815) 459.1300 or you may follow the wishes of the family and direct memorials to the Tom Stock Educational Fund at Chase Bank 1000 S. Algonquin Road, Algonquin.

 

Please feel free to contact us with ideas or ways we can partner for your Fundraisers or Charities!

Sincerely,

Katie’s Staff

Achieve Footwear

New Balance Crystal Lake

IL Turnaround Agenda & LCML Resolution of Support

Following are links to the State of IL Turnaround Agenda in it’s entirety as presented by the Governor and the Lake County Municipal League’s business friendly resolution which the Chamber Board supports.

LCML Resolution of Support for Turnaround Agenda

State of IL Turn Around Agenda

SCAM ALERT for retailers with online shopping capabilities

SCAM ALERT
From IL Retail Merchants Association
April 13, 2015

Please be cautious of a fraudulent company currently targeting small and mid-level retailers with online shopping capabilities. Recent reports detail phone calls made to businesses inquiring about analytic services. These calls are part of a large-scale financial breach directed towards retailers and their customers.

What to look for: The caller disguises himself as a newly established company offering services to analyze a retailer’s shopping cart traffic in order to produce a “valuable” report that can increase web-based revenue.

The risk: After granting access to the business’ ecommerce information, the hacker steals the financial data from both the business and customers.

Tips to identifying a social engineering scammer:

If you or your employees are unsure of the callers intent, take extra steps to verify them!

  1. Have someone technical request additional information from them rather than allow your membership/ sales person to discuss. They will not be able to answer technical questions about their product.
  2. Look at the hacker’s website. It will appear very simple or poorly constructed.
  3. Ask for their address. You should be suspicious if their only available business address is a P.O. Box.
  4. They may claim to be doing business only in your state and give you the name of a local city. Try quizzing them about the local area through engaging conversation; they will not be able to name nearby cities or know relevant information.
  5. Ask if they can provide a portfolio or a list of their previously serviced companies.
  6. Be aware if they use a Google Voice phone number or a recycled/disposable cell phone number. (An internet reverse phone search can provide this information)
  7. Ask to call them back. They typically do not answer the phone when you call them back. They need to be able to call you back, so they can prepare and gather your target file for the scam.
  8. They may have a foreign accent and sound like they are reading from a script.

What benefits should businesses be forced to provide employees?

The Hobby Lobby decision issued Monday by the U.S. Supreme court has the nation in a frenzy. The decision protecting employers from being required to provide contraceptives is limited in scope, applying only to closely held/family-owned for-profit businesses. This is not applicable to publicly traded businesses. Further, not-for-profit organizations were not addressed in this opinion.

 

This decision did not change or alter IL state statutes and/or mandates regarding contraceptives. Those mandates in Illinois have been in place since January 1, 2004 and will have to be challenged in state court. The Illinois state mandates “require all individual and group insurance and health maintenance organizations (HMO) policies that provide coverage for outpatient services and outpatient prescription drugs or devices, [to] provide coverage for all outpatient contraceptive drugs or devices approved by the FDA”.

 

So what do you think? Should businesses, specifically small, locally owned businesses be required by law to provide coverage for birth control, or for that matter, any other specific drug? Or should it be the business owners right to decide what they want to offer, and the employees decision if they want to work there or not based on what benefits are offered?

Minimum Wage Increase

Minimum Wage ImageThe Chicago Minimum Wage Working Group reported back earlier this week that the minimum wage in Chicago should be raised to $13 an hour by the year 2018 and linked to inflation thereafter.

Let’s break this down and see how it would affect the LZ Area Chamber of Commerce or other similar size businesses.

For a business (like the Chamber) currently paying $10.50 an hour for a part-time job (already $2.25 above the state’s min. wage), a forced $2.50 increase to $13 per hour would equate to $3,250 per year for an employee working an average of 25 hours per week.

To increase payroll over $3,000 for one employee would cause the Chamber to either eliminate other expenses (service or another position) or increase prices (dues, event tickets, etc.) to cover the cost.  The potential results of this could mean lower attendance at Chamber events, fewer member, and or possibly a small cost ($10 – $20) to participate in every event and activity.

We would like to hear how a mandated minimum wage increase might impact your business.  Please provide your feedback and input.

COMMUNITY ALERT – Pre-Paid Credit Card Scam

***COMMUNITY ALERT***
May 27, 2014
***Pre-Paid Credit Card Scam***

LZ Police Dept LogoOn May 27, 2014, a business in our Village received a call from a subject identifying himself as a
representative of ComEd. The caller advised of a large outstanding debt and advised the utility
would be shut-off if payment was not received. The caller advised the business to obtain Green-
Dot cards, and call them back to provide the card information so the funds are transferred.
Additional forms of this scam are;
Another twist of this scam is businesses being contacted by their “corporate office” and requested
to do the same practice of loading pre-paid cards and providing the information to the caller. In
some of the instances they would claim they are testing the credit card system, POS terminal,
system for existing or possible problems. They have also claimed these transactions are to cover
various fees.
We also had an instance where a caller to a retail stores relayed a bomb threat. The caller asked to
speak to the store manager, demanding that Green Dot MoneyPak cards each be activated and
loaded with $500 and that the card numbers be read aloud over the phone. The caller threatened
to blow up the stores if the managers did not comply and also threatened the store employees’
homes and families. The manager did not comply with the demands, and no explosive devices
were found.
We are warning residents and businesses that legitimate businesses and government agencies do
not conduct business transactions in this manner and do not instruct victims to purchase Green
Dot Money Pack cards or other pre-paid credit cards. Verify any unsolicited business transaction
requests by contacting the company yourself by a telephone number or email address which you
obtain.
These scams are currently occurring on a regular basis throughout the United States.
Green Dot has a fraud reporting number to contact as well at 800-GREEN DOT and its website
greendot.com has information regarding how to avoid common scams related to its products.
If you have any information about this scam, please contact the Lake Zurich Police Department
Criminal Investigations Division at (847)719-1695.

Lake Zurich Police Department

200 Mohawk Trail
Lake Zurich, IL 60047
Emergency – 911
Dispatch (847) 438-2349