Small business owners breathe easier over labor costs after decision to strike down overtime rule

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Small Business Nieuws

Compensation And Benefits,Labor,General News

Small business owners have had a mostly positive reaction to a judge’s decision to strike down an overtime rule that would have qualified more workers for overtime pay. On Nov. 15, a federal judge in Texas blocked a new rule from the Biden administration that would have expanded access to overtime pay to millions more salaried workers across the U.

FILE - In this May 7, 2020, photo, the entrance to the Labor Department is seen near the Capitol in Washington. s a nation ravaged by the coronavirus pandemic, the economic devastation upending the presidential campaign and forcing President Donald Trump to overcome historic headwinds to win a second term. that would have expanded access to overtime pay to millions more salaried workers across the U.S. Nearly all hourly workers in the U.S. are entitled to overtime pay after 40 hours a week.

Guillaume Drew, founder of Or & Zon, a New York company that sells sustainable home goods online with 12 staffers, said overturning the rule helps him keep labor costs and prices of goods down, particularly for future employees, since none of his current staffers would have been affected. But he said it’s still important employees are paid fairly for their time and effort.

“As a small business, managing labor costs is critical, and the proposed change would have increased expenses significantly,” he said. “The decision allows us to maintain current pay structures, ensuring financial stability while continuing to offer competitive wages.

“It will allow employers to align their compensation approach with the needs and flexibility of the individual worker and marketplace,” she said. “Small business owners and their workers are both better served by the court’s ruling.”

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