On Dec. 1, the DOL's rule will give overtime to a DOL-estimated 4 million new workers. (Photo: Mike Scarcella, ALM)

On December 1, 2016, the salary threshold for overtime pay is set to nearly double from $23,660 to $47,476, by way of the Fair Labor Standards Act. For business owners, this means salaried employees earning less than $47,476 will now need to be paid overtime for any time worked over 40 hours in a given week. This is no small change, and small business owners in particular are poised to be hit hard by these new regulations. 

The regulations bring with them positive outcomes for the segment of workers who might have been working 70 hour workweeks at a minimum wage salary, with no account of overtime pay. However, for small business owners facing such a marked change in how they pay their employees, it has implications for everything from company culture to the company’s bottom line — and in the end, how many people a company can employ while still making ends meet. 

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