The 'Annual Wage Increase' & Your Business

July 8, 2015

 

On the 2 June 2015, The Fair Work Commission’s Minimum Wage Expert Panel handed down its Annual Wage Decision, taking effect with the first full pay period on or after the 1 July 2015.

 

The decision handed down was for a minimum wage rates increase of 2.5% equating to $656.90 per week or $17.29 per hour.

 

We encourage all business and employers to use their online pay tools to check new pay rates applicable to their workplace.

 

These tools can be found at 

www.fairwork.gov.au/paycalculator

 

 

Employers seeking further advice and assistance can also check the Fair Work website at http://www.fairwork.gov.au/ or contact the Fair Work Infoline on 13 13 94.

 

Whether your business or employees salaries are directly effected by this increase or not, this is the cue for all businesses to review and align their salaries to continue to be equal to or greater than the wages their employees would otherwise be entitled to. 

 

As part of this review, ensure you have aligned each of your Employee Position Descriptions inline with these increases. This not only creates a guide for employees in regards to expectations and benchmarks, but if created correctly, can also be used as a valuable reference tool for creating measurable KPI's & performance management and reviews in the future.

 

We know your busy with your business and we recognise that at times even the most effective HR teams need to outsource parts of this process whether it's due to time restraints, manpower, cost or simply to get an external perspective. Trayne Consulting can draw on our years of professional experience and expertise to assist with your specific business needs in this area as well as all other HR, recruitment and training needs you may have. 

 

Contact us today to find out how we can be part of the solution and lead your business to the SUCCESS you deserve.

 

Happy New Financial Year!

 

Photo courtesy of adamr from freedigitalphotos

 

 

DISCLAIMER: This information is for general guidance only and is not intended to subsitute, nor should be relied upon as a substitute for legal or other professional advice. Despite our best efforts to ensure accurate and uptodate information, Trayne Consulting provide no warranties regarding the accuracy or comprehensiveness of this information and disclaims responsibility for all liability for any loss or damage that may be incurred as a result of this. 

 

 

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