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July 2016 L-Blast: FLSA and the Regulations | Serving on Boards Helps Executives Get Promoted | NFPCC Releases Results for Its Third-Annual Midstream Industry Compensation Survey

Dear Friends,
Summer is quickly coming to a close, and soon enough, the kids will be back in school. Before we know it, the final ruling of the U.S. Department of Labor will be in effect on December 1st. Our first article this month is an original NFPCC article by our new director, Liz Mayo, and consultant, Alissa Martin. The article dives into the new ruling and main areas of risk for employers. Finally, it gives some action items for employers to evaluate and review prior to the December effective date.

The second article from the Harvard Business Review dives into executives serving on boards. We know boards require significant time and dedication, but the article specifically looks at the evaluation of board service in the executive labor market. It studies whether or not board service increased an executive’s likelihood of receiving a promotion, becoming a CEO and/or receiving a pay increase.

We hope you enjoy both articles, and as always, please let us know if there are any particular topics you would like to learn more about. We appreciate each and every one of you. Enjoy the rest of your summer!

Brent Longnecker and the NFPCCmp;A Team
Chairman and CEO
Longnecker & Associates

FLSA and the Regulations.

WorldatWork recently published data showing that, with the first update occurring on January 1, 2020, the change in the 40th percentile of salaries could be raised as high as almost $71,000.
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Serving on Boards Helps Executives Get Promoted.

More than 25 years ago, William Sahlman wrote the HBR article “Why Sane People Shouldn’t Serve on Public Boards,” in which he compared serving on a board to driving without a seatbelt, that it was just too risky—to their time, reputations, and finances—for too little reward.
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NFP Compensation Consulting (formerly Longnecker & Associates) Releases Results for Its Third-Annual Midstream Industry Compensation Survey.

NFP Compensation Consulting (formerly Longnecker & Associates), a strategic compensation and corporate governance consulting firm based in Houston, recently closed its third-annual midstream industry compensation survey. The firm will release the survey’s results to participants this month.
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