US legislators and regulators are unleashing new compliance requirements for global equity programs at a dizzying pace and many companies are struggling to keep up. Global equity programs remain essential to compete for and retain top talent, but are also quite complex to structure and manage due to rapidly shifting laws and regulations around the
Millions of additional employees will soon be eligible for federal overtime because of the Department of Labor’s April 23 Final Rule. Under the Fair Labor Standards Act (FLSA), certain salaried employees are exempt from federal minimum wage and overtime requirements if they are employed in a bona fide executive, administrative, or professional (EAP) capacity. This is sometimes called the “white collar” exemption. The Final Rule:
Continue Reading DOL Raises the Federal Overtime Salary Threshold | Next Steps for US Employers
Pay transparency issues have been on the radar for some time, with employers navigating the patchwork of jurisdictions across the US demanding the disclosure of salary and wage ranges in job ads. So what’s new? Enforcement of these laws is on the rise, and employers have already been hit with fines and citations.
In this
In this 60-minute session, our team will highlight what employers in New York and the surrounding areas need to know to effectively navigate 2024, with practical tips to handle the latest developments including:
In 2023, we helped US employers overcome a host of new challenges across the employment law landscape. Many companies started the year with difficult cost-cutting decisions and hybrid work challenges. More recently, employers faced challenges around intense political discourse boiling over in the workplace. We’ve worked hard to keep our clients ahead of the curve on these
In many cases, when a candidate is recruited, they offered a new hire grant of equity awards and (possibly) subsequent “refresh” grants. Depending on the company, this can be a significant component of the employee’s total compensation and may be the most important piece to get the candidate to accept the offer.
So, naturally, companies tend to include information about the equity awards in the offer letter provided to the candidate, together with information about the employment terms (e.g., base pay, bonus eligibility, etc.).
If the candidate is to be employed by an entity outside the United States that is different/separate from the company that will be granting the equity awards (typically the parent company), we strongly recommend changing this practice. In a nutshell, we would advise to delete any references to the equity awards from the offer letter (as well as from any employment agreement that may be provided later or at the same time) and to communicate information regarding the equity awards in a separate equity award side letter that is provided by the granting company. Continue Reading The Case for Not Mentioning Equity Awards in Offer Letters
In “Brazil’s new equal pay law: closing the gap,” partners Clarissa Lehmen and Leticia Ribeiro discuss how Brazil’s new law on equal pay puts pressure on local employers to proactively address gender equality issues within their organizations.
Read on to see how the new law introduces stricter penalties for discrimination, establishes a reporting obligation for
The global economic environment has resulted in many multinational companies turning to cross-border carve-out transactions as they refocus on their core business competencies and dispose of non-strategic product and service lines. These transactions, particularly those involving separating an integrated business division from the rest of a global company across dozens of jurisdictions, are complex and
Effective September 17, employers with four or more employees in New York state must include a compensation range in all advertisements for new jobs, promotions and transfer opportunities. A pay transparency fact sheet and FAQ document are available on the NYSDOL website with additional information and guidance on the new law.
We are pleased to share a recent LegalDive article, “Why companies should review noncompetes in equity award agreements,” with quotes from Barbara Klementz.
Given increased government scrutiny, employers need to be mindful of the time periods noncompetes cover and review state-specific requirements.
In the light of the sharp focus the federal government and a growing
