From the course: Human Resources: Compensation and Benefits
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The legal framework
From the course: Human Resources: Compensation and Benefits
The legal framework
- The last thing any business needs is to run afoul of laws and regulations that govern pay and benefits. In the United States, a variety of such laws and regulations, both federal and state, apply to employers and government contractors. In this video, we will discuss some of the most important federal laws that you need to know, but keep in mind that there are many other legal requirements that we will not be able to discuss. So, you need to get competent legal advice to ensure compliance with all compensation-related federal, state, and local laws and regulations. Laws exist to ensure fair treatment of employees with respect to pay, safety nets for the unemployed, and protection from exploitation. One of the most well-known laws applies to minimum wage. The Fair Labor Standards Act set the current federal minimum wage at $7.25 per hour, and it hasn't increased since 2009. However, 29 states have a higher minimum wage. When the state minimum wage is higher than the federal rate…
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