Award rates increase – are you ready?
As a result of this year’s Fair Work Commission review, minimum wages in Modern Awards and the national minimum wage will be increased by 3.3% as of the first full pay period on or after 1 July 2017.
Increase for Award-covered employees.
Modern award minimum weekly wages are to be increased by 3.3% per cent with commensurate increases in hourly rates on the basis of a 38 hour week.
Increase for Award-free employees.
In addition, the decision increased the current adult national minimum wage which applies to award-free employees by 3.3% to $18.29 per hour.
What does this mean for your business?
For organisations that pay Award rates, you will need to factor in this pay increase and ensure it’s in place by July 1st.
For organisations that pay above the minimum Award rates of pay, it will be necessary to review the rates of pay to ensure staff are not underpaid. Don’t forget to ensure that any above Award amount is adequate enough to compensate for any penalties, loading or overtime that you may include in your employee’s rate of pay.
How can Advice On-Demand help?
Worried you might be under paying your staff? Don’t risk being fined, contact Advice On-Demand on 1300 55 99 62 or email us on email@example.com to discuss your situation and find out how we can help!