Something as simple as this:

create table test

(flsa_status varchar(30),

bu_dept varchar(30),

reg_temp varchar(5),

ftpt char(2),

value int)

insert into test values ('Exempt Salaried','Corp','Reg','FT',43);

insert into test values ('Exempt Salaried','Corp','Reg','PT',10);

insert into test values ('Exempt Salaried','Corp','Temp','FT',12);

insert into test values ('Exempt Salaried','Corp','Temp','PT',2);

insert into test values ('Additional Example','Corp','Reg','FT',143);

insert into test values ('Additional Example','Corp','Reg','PT',110);

insert into test values ('Additional Example','Corp','Temp','FT',112);

insert into test values ('Additional Example','Corp','Temp','PT',21);

DECLARE @SQL varchar(max)

SELECT @SQL = 'SELECT flsa_status ' + CHAR(13)

+ (SELECT DISTINCT ' ,MAX( CASE WHEN bu_dept = ''' + bu_dept

+ ''' AND reg_temp = ''' + reg_temp

+ ''' AND ftpt = ''' + ftpt

+ ''' THEN value END) AS [' + bu_dept + ' ' + reg_temp + ' ' + ftpt + ']' + CHAR(13)

FROM test

FOR XML PATH(''),TYPE).value('.', 'varchar(max)')

+ 'FROM test ' + CHAR(13)

+ 'GROUP BY flsa_status'

PRINT @SQL

EXEC( @SQL)

GO

DROP TABLE test

By the way, to concatenate the values I used the technique explained in here: http://www.sqlservercentral.com/articles/comma+separated+list/71700/