Employees are the beating heart of your business and lately, we have become aware of a few changes to the way they are paid and treated. Below is a reminder of the three areas relating to your employees that you, as a business owner, need to be across as we say hello to a new financial year in a couple of days.
increase to minimum wage and award wages
The Fair Work Commission [FWC] has announced a 2.5% increase to the national minimum wage. This also applies to all award wages, with the increase happening in 3 stages. For more information, click here.
They will also release updated pay guides. If you would like to browse the full list of pay guides and access the one relevant to you, click here.
employer superannuation contribution increases
Super payments to employees will change from 9.5% to 10% from the 1st of July. This continues to increase by 0.5% each year until it reaches 12% in 2025.
Please ensure that you have made a decision on how you plan to treat the superannuation increase in your business and have communicated this to your employees prior to receiving their first payment after 1st July.
We recently posted a blog about this change and provided a few tips on how to go about implementing it. You can read more here.
changes to casual employment
The FWC have made industrial relations reforms to the way casual employees are treated.
Please make sure you have addressed and reviewed these new changes if you have casual employees. You have until the 27th of September 2021 to finalise your new processes. You can read more information regarding these changes on our blog here.