It is vital to your success that you pay your staff correctly!
You’d have to have been living under a rock to have missed the news about some very high-profile corporations being put through the wringer for underpaying their staff.
Our business exists almost entirely to support small and medium businesses, whether sole practitioners of a small business or Founders and CEO’s of much larger businesses. We use all of the legal means necessary to ensure that you have the best chance of good profits and long-term success.
The last thing we want is for you to come unstuck when it comes to your payroll. It’s absolutely vital to your success that you are paying your staff what they are entitled to. We have these discussions individually with our clients all the time, but here is a refresher and some tips to help you make sure you’re complying with the law.
Put simply, compliance with awards is a cost of doing business. If you can’t afford to run a business without complying with these laws and requirements, then you need to look hard at whether it is viable for you to continue the way you are.
- Even if you are a small business who only employs one or two staff members, it may be worthwhile outsourcing your payroll to a specialist company. We highly recommend this to businesses in hospitality, labour hire or retail. There is no doubt that the award system is complex. Regardless of whether you love it or hate it, it’s here and you must comply with it. We’ve added some links below to companies who specialise in this.
- You should be regularly assessing your compliance with workplace laws and awards. Check the age of your staff and ensure that they are being paid the right hourly rate for their age. Salaries, wages and payroll are not a set and forget thing, they need to be reviewed, we’d suggest at least once a quarter.
- Ensure that you’re up to date with your superannuation obligations. This area in particular is one where if you get it wrong you will incur significant penalties and charges.
- Wage theft is a serious issue, and it is an area where we have seen very serious repercussions in business. It has been the downfall of many outwardly successful businesses. Wage theft can be considered anything from underpayment of hourly rate, unreasonable expectations of overtime to be worked, lower than award rate individual contracts, expecting staff to “donate” the wages of their shift to a charitable cause, putting staff on false traineeships and unpaid internships.
- If you notice that you have underpaid a staff member you need to deal with it immediately. The best way is to notify the staff member and make arrangements to ensure that the situation is rectified as soon as possible. You will need to get advice to ensure that you cover all areas, back pay, tax amounts, superannuation obligations, don’t try to fix it yourself. Be up front with your communication and put things in writing so that you have a record of the situation.
Here are some companies you can hire to take care of your payroll for you: