For employers and human resources managers throughout the United States, the Fair Labor Standards Act is benchmark legislation to follow regarding the compensation policies of virtually every business with $500,000 or more in gross revenues annually. First passed in 1938, it has been continuously amended through the years to keep up with labor trends and inflation, and is as prevalent and enforceable today as it was over 70 years ago. There are four main components of the Fair Labor Standards act with which employers must comply…
