Our Prestige Perspective newsletter will share our ideas for inspiring your team, provide answers to frequently asked questions, and keep you updated on the HR information you need to know. We hope you find this newsletter helpful! If you have any questions or would like to learn more about partnering with PrestigePEO, please feel free to contact us at any time.

As open enrollment season approaches, you might be looking for ways to simplify this year’s process. Securing the best rates for your business, managing the enrollment process, and determining which employee benefits to provide your staff can be overwhelming.

Our most recent blog post offers valuable insights on how to streamline your renewal process by leveraging the expertise of a PEO. Learn how to improve your open enrollment experience by reading our blog post here!

With the innovation of Artificial Intelligence (AI) becoming steadily more available, many businesses are turning to AI screening tools to streamline their recruitment processes and make informed decisions about employee promotions. Though these solutions are beneficial and can improve efficiency, it’s essential to tread carefully, as they can also raise significant legal risks for your company, especially regarding potential discrimination cases.

It’s crucial to adopt best practices and implement safeguards that can help balance efficiency and compliance, one of many reasons you should consider partnering with a PEO. PrestigePEO has the expertise and guidance to ensure regulatory compliance across state and federal laws. Learn more by reading our latest piece on AI and how Prestige can help by clicking here or the button below.

As a small business owner, it can be difficult to stay on top of all the compliance updates that are released. At PrestigePEO, we take the burden of compliance off your shoulders, making sure that your business is informed of updates that may affect your business, as well as helping you make any necessary changes.

In our recent webinar, PrestigePEO’s COO Robyn Rusignuolo, and our VP-General Counsel, Elisabeth Shaw, gave an informative overview of some of the most pressing compliance updates in the state of New York. Topics included:

• Artificial Intelligence usage in hiring
• Non-compete agreements
• New York salary transparency
• NY WARN update
• Minimum Wage laws
• Sexual harassment policy
• EEO-protected class updates

Watch a recording of our webinar and download a copy of the presentation by clicking the button below!

Interested in how PrestigePEO can help your small to medium-sized business stay compliant? Stay one step ahead in the ever-changing state and federal word of laws and regulations with our Compliance Resource Center. Discover essential insights and actionable recommendations to help your SMB stay compliant when you partner with PrestigePEO!

On Wednesday, August 30, 2023, the U.S. Department of Labor (DOL) issued a  that updates and revises federal regulations on exemptions from minimum wage and overtime pay requirements. The proposed rule seeks to change the salary threshold for overtime exemptions from its current rate of $684/week to $1,059/week. On an annual basis, this proposed rule would raise the federal salary base for exempt employees from $35,568/year to $55,068/year. As a result, employees who do not make at least $55,068/year would be entitled to overtime pay for any hours worked over 40 hours per week. The DOL estimates this change will impact over 3.6 million salaried workers.

Once the DOL publishes the proposed rule in the Federal Register, the public will have 60 days to comment. The DOL will consider feedback on the proposed rule before issuing a final rule. The proposed rule will likely receive strong push-back from the business community and may also face legal challenges.

What does this potential federal law change mean for employers?

If a new federal salary base is enacted, employers wanting to claim an overtime exemption for salaried employees must offer a minimum of $55,068/year. Notably, some states already have a higher threshold for overtime-exempt employees. For example, New York, New York City, Westchester, and Long Island employers must pay exempt employees a minimum of $58,500/year. Employers with salaried employees in other states will want to review their salary bases to plan for changes. Employers should determine (1) if they prefer to change salaried employees to non-exempt positions, which would require overtime payments for any hours worked over 40, or (2) if they want to increase their salaries to maintain their exemption.

PrestigePEO is here to help.

PrestigePEO will continue to monitor this proposed rule and other compliance updates that will affect employers on behalf of our clients. If you’re seeking comprehensive support for compliance, HR administration, employee benefits, and more, don’t hesitate to reach out to us today.

The latest reports indicate that businesses can expect another increase in employer health costs. “Average costs for U.S. employers…will increase 8.5 percent to more than $15,000 per employee in 2024”, according to Aon plc. With inflation rising and costs increasing, it’s time for small and mid-sized businesses to partner with a PEO. By combining your business’s purchasing power with hundreds of others, you can leverage the combined strength of a PEO to significantly lower your employee benefits costs.  Connect with us today to discover the valuable advantages we can offer your company and your employees.

Discover the pivotal role of data in Diversity, Equity, and Inclusion (DEI) efforts. Explore how DEI data quantifies the impact of your initiatives, identifies improvement areas, and showcases ROI. Learn how to simplify data presentation, empower your team, and achieve your DEI goals effectively. By harnessing the power of data, you can progress and create a more inclusive workplace.