2024 Employment Law Updates - Mission to Grow: A Small Business Guide to Cash, Compliance, and the War for Talent - #85
How will 2024 employment law changes impact salaries, pay transparency, marijuana legislation, and state-mandated savings plans for your business? This week, we welcome back Mary Simmons, the VP of HR Compliance, Learning and Development at Asure. Mary partners with Mike to discuss 2024 employment law updates, covering topics such as the anticipated increase in White Collar and Highly Compensated salaries, pay transparency, impacts of marijuana legislation on employers, and state-mandated savings plans. They highlight the importance of staying compliant, adapting to changes, and keeping HR functions supportive of the business's growth. It’s an insightful episode you won’t want to miss!
Takeaways:
- The Department of Labor is expected to increase White Collar and Highly Compensated salaries, which might heavily impact businesses, especially the small ones. Mary urges employers to prepare and audit their Fair Labor Standards Act, considering how this change might impact their employees and operations.
- More states are moving towards pay transparency where salary ranges for job postings are made public. Employers need to embrace this change and utilize it as a strategy for attracting potential employees.
- States are continuing to legalize marijuana, and companies need to be prepared for the complexities that come with this in relation to workplace policies. Employers need to form a solid plan on what their stance will be on off-duty cannabis use and remain aware of the changing laws surrounding it.
- Many states are implementing mandatory savings plans for employees. This isn't just a mandatory compliance issue, employers should also leverage this as a perk when attracting new talent.
- Non-competes are seeing a pushback and being challenged more frequently. Employers need to review their non-competes with a professional and consider how competition impacts their employee engagement.
- There are more leave laws being enacted on state and local levels, including bereavement leave and parental leave. Employers need to stay updated with the new laws and understand their effects to avoid legal complications and manage employee expectations better.
Quote of the Show:
- “Keep focusing on HR because it is no longer a call center. It is your way to being successful.” - Mary Simmons
Links:
- Asure: https://www.asuresoftware.com/
- LinkedIn: https://www.linkedin.com/in/marysimmonshrconsultant/
Ways to Tune In:
- Spotify: https://open.spotify.com/show/2XThTdn7YC1lkAm0PgZUkj
- Apple Podcasts: https://podcasts.apple.com/us/podcast/mission-to-grow-a-small-business-guide-to-cash-compliance-and-the-war-for-talent/id1725890976
- Amazon Music: https://music.amazon.com/podcasts/328dddd0-3c4f-4b07-a0d3-13bdcb418486/mission-to-grow-a-small-business-guide-to-cash-compliance-and-the-war-for-talent?refMarker=null
- Podchaser: https://www.podchaser.com/podcasts/mission-to-grow-a-small-busine-5591006
- YouTube: https://youtu.be/0G2r5sn7qrM
Creators and Guests
Host
Mike Vannoy
Mike is a digital-first marketing executive with 25 years dedicated to helping HR companies thrive. As a board member of an AI software company and Chief Marketing Officer at Asure, he's been at the forefront of AI, HR compliance trends, and the changing demographics that shape today's marketplace. Under his leadership at Sales Engine Media, the company predominantly focused on the payroll, HR, and benefits industries, earning multiple spots on the Inc5000 list. Actively involved in multiple small businesses, Mike is a lifelong entrepreneur adept at navigating the changing workforce dynamics. He has held multiple executive roles at industry-leading HR firms, showcasing his expertise and leadership in the sector.
