June Newsletter
Budgets, Risk and Retention - It's that time of the year!
It’s that time of year again when the finance team get to flex their muscle and get the planning for the next year under way. With the next phase of the Modern Awards taking effect on 1 July, 2010 now is the time to ensure you audit your payroll to minimise your risk of under payment whilst planning for business sustainability by retaining staff.
Key points to note with introduction of Modern Awards:
- Effective 1 January, the Modern Awards provide a common rule across occupations and industries nationally
- Provides minimum rates of pay for employees even if covered by a registered workplace agreement of any form
- Does not apply to employees whose guaranteed earnings exceed $108,300 per annum. Earnings do not include compulsory superannuation or earnings that cannot be determined in advance such as commissions and bonuses/incentives.
For many businesses 2009 and the GFC was a year to freeze pay rises. 2010 however is showing signs of a surge in hiring and therefore a return to talent shortage. "While the downturn masked the pain of the talent shortage, it never actually went away - it's definitely set to return," says Manpower Australia & New Zealand managing director, Lincoln Crawley.
Staff will be waiting in anticipation as many businesses held back on remuneration increases last year. As business owners and managers this is your opportunity to re-engage and ensure retention of the talent in your workforce. Plan for business success while minimising your risk of non-compliance to the new Award terms and conditions.
Budget considerations:
- Audit your current base rates of pay against the appropriate Modern Award and take into consideration 1 July, 2010 increases. Note regardless of existing Agreements in place the Modern Award rates are the minimum rates payable.
- Review job classifications for all staff to ensure correct alignment to the Award definitions and subsequent pay rates.
- Review your workforce planning – are you likely to increase staffing levels, maintain or reduce?
- Defined and clear reward and recognition programs/incentives on achievement of KPIs.
- Organisational benchmarking to support proactively planning, measuring, analysing and managing your business resources.
Failure to act on the changes to Modern Award rates and conditions leaves your business at risk of exposure to fines and penalties from the Fair Work Ombudsman.
If you required assistance with reviewing your payroll and Modern Award compliance please contact us at Garner Business Solutions. Other assistance we can offer includes reviewing and updating policies and procedures, developing performance management programs, auditing your HR Systems, mapping your Strategic Priorities and supporting your business sustainability.
References:
Q1/2010 Manpower Employment Outlook Survey - http://files.shareholder.com/downloads/MAN/722142433x0x334340/71AF3C25-828C-463F-84C9-25CCB533DF71/AU_MEOS_Q110.pdf
Webinar - Emerging trends in the Consulting and Coaching Market
Have you ever thought about going into business for yourself? Entertained packaging up your skills and professional knowledge to create your own coaching or consulting business? Here is an opportunity to learn more about the industry, the trends and the reality of what starting a business may mean for you.
HR Coach has been operating at the forefront of the human resource and business strategy sector since 2000. Having helped over 70 individuals and organisations successfully move into the coaching and consulting arena we are acutely aware of the benefits and pitfalls of the industry. Couple this with our charter to continue to research and understand the business sector, we are uniquely placed to provide insight.
We invite you to learn more by attending the Emerging Trends in the Consulting and Coaching Market Webinar scheduled for Wednesday the 16th of June at 3pm.
To register, click here
If you are looking for a new tactic in your career strategy, HR Coach is interested in exploring how we can help you take control of your future and help you make the choices that may make all the difference.
Inspire, encourage and support
With our continued focus on health and well being I have decided to raise the bar. Having started running only 18 months ago with the Susan Classic 5km, I am now setting the goal at the Run Melbourne Half Marathon on Sunday 18 July .. just under 5 weeks away.
Like the workplace, it is important to motivate, inspire and encourage ... Sadly one of the network coaches father recently passed away having suffered with Alzheimer’s for a number of years. With the ageing population a key issue for the future, his loss has inspired me to run for a worthy cause. So this event is inspired by Ian in loving memory of his Dad – Jim.
Please provide your support with a donation however great or small.
http://runmelbourne.everydayhero.com.au/nerida_guerin
|
