Why It Matters.The parking industry is an employer of choice for service employees. The industry is focused on recruitment, development and scholarships for parking professionals building a career in the industry.
The industry stands together committed to training and development for employees including scholarships and career advancement programs.
It has long been reported that increasing the minimum wage would be detrimental to job creation and could result in loss of employment. Twenty-one states and the District of Columbia are increasing their minimum wage. In addition, proposed changes to FLSA/Overtime regulations that could extend overtime pay to most salaried employees is a constant threat. Measures of this type create barriers to opportunity and severely limit the flexibility of employers.
An increased minimum wage forces an employer to pay more for the same labor services, forcing an all too real evaluation on whether they can afford to keep employees on the payroll at existing levels. An increased minimum wage would discourage hiring and make for a push toward automation, undermining the labor force.
Updating the minimum salary threshold will result in instability in labor and administrative costs for job creators. Updating the minimum salary threshold discourages job creation by increasing the administrative burden for job creators.
Businesses will be forced to reconsider the classifications given to their employees and reassess potential raises, bonuses, or promotions for those employees each time DOL issues a new salary threshold.1
Employee career growth opportunities will suffer as many employers will be forced to cut employees down to nonexempt status if the overtime salary threshold is increased.
Nonexempt employees often get fewer opportunities for flexible work arrangements, career training and advancement than their exempt counterparts.2
45% of those surveyed by the National Retail Federation believe a change in employment status from salaried to hourly would make them feel they’re working a job rather than pursuing a career.3 This negative impact on employee moral will eventually trickle down to customers.
1.7 million jobs will be lost once the new minimum wage hikes are fully phased in, with 75% of job losses happening in New York and California.
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