2018 Minimum Wage Increases – Are You Ready?
As you already know, California is working towards a $15.00 minimum wage by the year 2023. Each year the minimum wage requirements increase. Beginning January 1, 2018, the minimum wage increased to $10.50 per hour for companies with 25 employees or less, or $11.00 per hour for companies with 26 or more employees. Remember, this also can impact an employee’s exempt status. To remain exempt, an employee’s salary must be two times the minimum wage. Employers should do an audit of exempt employee salaries in order to ensure they meet the new minimum wage requirements to maintain their exempt status.