This is a high level and broad introduction to employment compliance suitable for company directors, and those who have recently taken on HR or payroll responsibilities.
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It can be impossible to work out what will make everyone happy but conforming to the minimum standards will ensure you aren't making them unhappy just by meeting your obligations.
Good compliance will protect tour business from financial penalties, cash flow interruptions, lost time and reputational damage with clients and employees.
With updated legislation in 2024, Directors can be personally held criminally responsible with charges of wage theft. It is in their own interest that they ensure the business is meeting it’s minimum standards.
“With the increasing wage theft laws coming in and liabilities on executives and company directors, employers cannot just hope that their payroll people get it right, and without any oversight. We find errors in 100 per cent of our payroll audits.” – Fair Work
-Financial Review – David Marin-Guzman Workplace correspondent May 8, 2023
Payroll and HR is a critical and time sensitive part of your back office operations which will quickly and significantly impact your business when people stop being paid and recruited.
Do you have a back up plan if a key person leaves?
“The survey of 2178 payroll professionals by the Australian Payroll Association found that 46 per cent of respondents in large companies reported they were overworked and 28 per cent were expected to quit in the next year.” – Fair Work
-Financial Review – David Marin-Guzman Workplace correspondent May 8, 2023
This introduction to employment compliance can help you quickly resolve some common employment related compliance items businesses get wrong and introduce a range of resources and how to navigate them to help you find the solution specific to your needs.
Knowing what information gaps exist, is the first step to HR and payroll dominance.
Expertise is built on strong foundations
