The Fair Work Commission delivered its annual wage review today. This decision will have a significant impact on all businesses and industries and over 2.2 million employees who are paid at the National Minimum Wage or minimum Modern Award rates.
Are jobs at risk?
The new minimum wage announcement typically spurs a frenzy of cost-cutting advice, and many employers will be reconsidering their staffing needs. Founder and Managing Director of workplace relations firm Employsure, Ed Mallett says, “Our small business clients tell us that there’s a lot of pressure, and that is where we can help SMEs prepare and understand what they need to do, to deal with these changes.”
Read the full article here.
Employer Obligations: Minimum Wage In Australia
Understanding minimum wages in Australia is one of the most important elements to maintaining an effective cost structure when running a business. There are certain standards set in place by the Fair Work Commission which dictates minimum grades of pay for different job roles across all industries, and if you aren’t fully aware of each of your employees’ minimum wages, you could find yourself underpaying them.