Anxious about the upcoming implementation of the new overtime rule? The new rule is estimated to affect around 4.2 million workers across all fields. Over the past week, Remodeling and its sister publications reached out to readers from across the construction industry. Dealers, builders, remodelers, manufacturers, and specialty installers all responded and gave us a peek into the preparations, or lack thereof, that some of our readers are taking before the Dec. 1 implementation.
A total of 328 readers responded to the poll over the course of the week, with the majority of responses coming from remodelers and dealers. Answers about knowledge and preparation for the overtime rule varied, but as a whole, nearly three-quarters of the companies that answered do not have plans in place to deal with the new rule.
Despite the majority of construction industry companies that haven’t put any plans in place, discussions are happening at around half of those that responded to the survey.
These numbers might paint the picture of an industry that isn’t prepared for new federal regulations that are fast approaching, but there are a few pieces to consider. Remodelers and dealers have already weighed in on the new rule, and many are either cutting overtime completely, or just aren’t worried. Remodelers work closely with subcontractors and may not have that many salaried employees at the company. Dealers tend to employ many hourly workers already, and responses indicated that overtime is something that many of them already pay when the situation calls for it.
Builders had similar comments, discussing limiting hours for new employees and keeping weekly hours strictly at 40. Several builders were worried the new rule would drive up prices and impact their ability to make sales. Others said they would not impacted, either because their employees are already above the threshold, or because they work largely with subcontractors.
As the deadline approaches, there is still a small glimmer of hope that congress will delay the implementation of the overtime rule. There’s also the looming presidential election that could shift the balance of power in Washington.
