Here are this week’s links to a couple of good stories that we found and selected because we feel they might add valuable insights and perspectives for small to medium size businesses. Our first article comes to us courtesy of Exabyzness.com who continue to provide timely and important information for the small business owner. Our final recommended read is provided by the Society for Human Resource Management (SHRM).
- The Department of Labor estimates that 70% of employers are in violation of the Fair Labor Standards Act (FLSA) due to misclassification of exempt and non-exempt employees. While this has been a problem for years, it could mean more challenges for business owners. In 2010, the federal government hired an additional 350 FLSA inspectors to ensure compliance. Read about this and more in an article posted by HR.BLR entitled Nonexempt vs. Exempt Employees: Salary Considerations.
- Lastly, while business owners project wage in the United States increases to be 3.0% in 2013, India, China and Brazil project increases of 10.7%, 8.8% and 7.2% respectively. There is, of course, more to the story. Stephen Miller, CEBS explains the numbers in US Trails for Projected 2013 Salary Budget Increases.