Northwestern Lumber Association and Mid-America Lumbermens Association are now BLD Connection. Material Matters is our monthly newsletter. Its focus is on valuable industry news and important member updates. Watch for Material Matters in your inbox the first Monday of each month. |
NLBMDA Campaigns DOL to Abandon New Overtime Rule |
On November 7, NLBMDA submitted comments to the Department of Labor (DOL) urging the Department to reconsider and withdraw its proposal for increased salary thresholds dictating mandatory overtime pay for workers. The DOL’s new rule would increase the minimum salary level that an employee must receive to be exempt from federal overtime pay to $55,068 per year (from the current level of $35,568) and has additionally proposed to automatically increase the salary level every three years. By the time the rule is finalized, the overtime salary threshold could be as high as $60,209 per year ($1,158 per week).
NLBMDA also recently sent coalition letters to House and Senate lawmakers requesting that they urge the Department of Labor’s Wage and Hour Division to withdraw its proposed overtime pay regulations, and joined coalition comments that outlines how the proposal’s costs will largely be borne by entry level workers in rural and economically stressed regions and that automatic updates to the salary level will impose significant inflationary pressure on the economy. |
Federated Insurance® Appoints New Chief Executive Officer |
Federated Insurance® Chairman Jeff Fetters recently announced that Nicholas R. Lower has been appointed the organization’s new President and Chief Executive Officer effective January 1, 2024, upon the retirement of its current Chief Executive Officer, Michael G. Kerr. |
Federated Insurance® Launches Association Member Benefits Page |
For over 23 years, BLD Connection has partnered with Federated Insurance to provide its members with a competitive solution for property, casualty & life insurance as well as resources related to succession planning.
As an association member, you have access to the unique and personalized wealth of knowledge and resources that Federated Insurance® offers. Federated has created an Association Member Benefits page on their website to provide a helpful overview on what they can offer to help maximize their partnership with us.
We encourage you to review the valuable resources that Federated maintains to help you succeed in today’s marketplace. Offerings that are highlighted on this page include: - The ability to directly contact Federated professionals voice-to-voice and face-to-face.
- Safety and risk management services, programs, and support
- Tailored industry-specific products
- Specialized coverages
- Complimentary attendance at a Risk Management Academy
- Complimentary meeting with a business succession and estate planning attorney
Take a moment today to explore and utilize this helpful resource today. |
Minimum-Wage Rate Changes for Michigan, Minnesota, Missouri, and South Dakota on January 1, 2024 |
Minimum-wage rates will be adjusted for inflation January 1, 2024 for some states within our membership region. Click on the state name below to read the full details from each state's department of labor (DOL). You can also download and print an updated poster from each DOL website. BLD Connection will have updated all-in-one posters available for Minnesota, later in December. Contact Diane at (763) 595-4055 or diane@BLDConnection.org to order. |
Is Critical Thinking a Part of Your Company Culture?
Dena Cordova-Jack, Vice President of Organizational Development, Misura Group
See Dena at our Solutions Room seminar at both BizCon North and BizCon South. Recently, Google completed a multi-year study of team performance within various cultures. Unsurprisingly, the findings of the study reflected that teams performed at their highest levels while in a learning culture where they felt safe to take risks and share ideas without fear of repercussion. These teams were successful in an environment where critical thinking was highly valued, and the process was a foundational norm. |
How Legacy Habits Are the Core Cause of Pale Profit Performance
Ken Wilbanks, Professional Business Consultant
Ken is currently teaching our Gross Margin Mastery Series
Last week I delivered a keynote program to a fine company. A Multi-location group of stores. A new Principle Family Member at the helm. A PALE Gross Margin and much to lose if action is not taken. Now, these folks have HUGE hearts! Absolutely. Liked them totally. It didn’t take but a minute to discover HOW legacy habits are THE CORE CAUSE of their pale profit performance. |
Are Your Passwords Strong Enough? Veracity Technologies
While there are many security measures one can take, the most basic but also crucial step in protecting your online presence involves creating strong passwords. However, many people still don’t know what specifically constitutes a strong and secure password.
The importance of secure passwords for your business
While many personal accounts are password-protected, securing your business accounts is equally critical. This applies not just to you but to your entire company. Every employee should use strong passwords to safeguard sensitive business data. Imagine the potential harm a cybercriminal could cause if they gained access to your data and systems. It could tarnish your business’s reputation and jeopardize both your employees’ and customers’ private information.
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Travel Away From Home From Federated Insurance Question One of our employees will be traveling to an out-of-town conference on an upcoming weekend. He will ride a bus for three hours on a Friday and stay overnight. He will then attend the conference on Saturday before riding the bus back home later that day. We understand we need to pay him for his time spent attending the conference. Our question is specifically about the three-hour bus rides to and from the conference: Do we need to pay him for his travel time on the bus? He will not be performing any work on the bus. |
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