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Federal Register / Vol. 86, No. 138 / Thursday, July 22, 2021 / Proposed Rules
requirements and will only have to familiarize themselves with the parts that have changed predominantly the level of the minimum wage.
Additionally, this is the average amount of time spent. The Department believes that many of the potentially affected firms will have little to no regulatory familiarization costs because they are not practically affected e.g., they do not hold active government contracts or all their workers already earn at least $15
per hour.
However, if review of regulations occurs at the establishment level, the Departments regulatory familiarization
costs may be underestimated. The Department welcomes comments on the estimated time spent on regulatory familiarization and the level at which the regulatory familiarization occurs.
The cost of this time is the median loaded wage for a Compensation, Benefits, and Job Analysis Specialist of $52.65 per hour.59 Therefore, the Department has estimated regulatory familiarization costs to be $13.4 million $52.65 per hour 0.5 hours 507,200
contractors Table 8. The Department has included all regulatory familiarization costs in Year 1. The Department believes firms will need to
familiarize themselves with the rule in Year 1 in order to identify whether any contracts will be covered in Year 1. It is possible a contractor will postpone the familiarization effort until it is poised to have a covered contract; however, since many contractors will have at least one new contract in Year 1, and the Department has no data on when contractors will first be affected, the Department has included all regulatory familiarization costs in Year 1. Average annualized regulatory familiarization costs over ten years, using a 7 percent discount rate, is $1.9 million.

Table 8: Year 1 Costs Regulatory Familiarization Costs
Variable
Implementation Costs Human Resources Time
Management Time
Total
The Department believes firms will incur costs associated with implementing this rule. There will be costs to adjust the pay rate in the records and tell the affected employees, among other minimal staffing changes and considerations made by managers.
The Department assumed that firms would spend ten minutes on implementation costs per newly affected employee. This estimate was chosen because for most affected workers
management decisions will be negligible and the time to adjust the systems is very small.
Implementation time will be spread across both human resource workers who will implement the changes and managers who may need to assess whether to adjust their schedule. The Department splits the time between a Compensation, Benefits, and Job Analysis Specialist and a Manager.
Compensation, Benefits, and Job Analysis Specialists earn a loaded hourly wage of $52.65 per hour.60

Workers in Management Occupations earn a loaded hourly wage of $86.02 per hour.61 The estimated number of newly affected employees in Year 1 is 327,300
Table 8. Therefore, total Year 1
implementation costs were estimated to equal $3.8 million $52.65 5 minutes 327,300 employees + $86.02 5
minutes 327,300 employees.
The Department believes implementation costs will generally be a function of the number of affected employees in Year 1. The Department believes there will be no
59 This includes the median base wage of $32.30
from the Occupational Employment and Wage Statistics OEWS plus benefits paid at a rate of 46
percent of the base wage, as estimated from the BLSs Employer Costs for Employee Compensation ECEC data, and overhead costs of 17 percent.
OEWS data available at: http www.bls.gov/oes/
current/oes131141.htm.

60 OEWS May 2020 reports a median base wage of $32.30 for Compensation, Benefits, and Job Analysis Specialists. The Department supplemented this base wage with benefits paid at a rate of 46 percent of the base wage, as estimated from the BLSs ECEC data, and overhead costs of 17 percent. OEWS data available at: http
www.bls.gov/oes/current/oes131141.htm.

61 OEWS May 2020 reports a median base wage of $52.77 for Management Occupations. The Department supplemented this base wage with benefits paid at a rate of 46 percent of the base wage, as estimated from the BLSs ECEC data, and overhead costs of 17 percent. OEWS data available at: https www.bls.gov/oes/current/oes110000.htm.

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NIA
NIA
Hours per potentially affected contractor 0.5
Potentially affected contractors NIA
NIA
507,222
Hours per employee NIA
0.08
0.08
Affected employees NIA
327,310
327,310
Loaded wage rate $52.65
$52.65
$86.02
$32.30
$52.77
Base wage $32.30
Benefits and overhead adj. factor a 1.63
1.63
1.63
Cost $1, 000s $13,352
$1,436
$2,346
$3,782
Average annualized cost $1,000s 3% discount rate $1,565
$168
$275
$443
7% discount rate $1,901
$204
$334
$538
a Ratio ofloaded wage to unloaded wage from the 2020 ECEC 46 percent plus 17 percent for overhead.