The Fair Work Commission handed down its annual wage review decision on Friday 2 June 2023.   

The Fair Work Commission handed down its annual wage review decision on Friday 2 June 2023.   

June 8, 2023 Compliance, Remuneration

Minimum Wage Increase From the first full pay period on or after 1 July 2023, the National Minimum Wage will be adjusted. The new minimum wage will be $23.23 per hour, up from $21.38 per hour, an increase of 8.65%. Modern Award Increase In addition to the National Minimum Wage increase, Modern Awards will also […]

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How to Attract and Retain – Money Isn’t Everything

April 12, 2022 Remuneration

With the many businesses still suffering from the fallout of the Great Resignation, employee attraction and retention have never been so critical. In the past, job security and compensation seemed to be the biggest contributing factors, but with the global pandemic came a shift in employee values. With the end of the financial year approaching […]

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How Can I Reward High Performers When Money Is Tight?

October 23, 2020 Remuneration

This year has been quite turbulent for many businesses, with many deciding to pause salary increases for the year, or in some cases, coming to agreements with their team to reduce salaries to make it through to the other side. With the end of the year approaching, and strategic planning taking place for the next […]

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How do I handle a request for a payrise?

April 16, 2019 Remuneration

The way your team are remunerated can play a key role in your company’s ability to attract and retain quality talent. And whilst we are entering into a period where many companies have scheduled annual pay reviews, some staff members may bring up the topic of an unscheduled pay rise prior to the review process. […]

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How to Conduct Effective Salary Reviews

July 17, 2018 Remuneration

Can you believe that we have just passed through another End of Financial Year? Looks like we have approached the time of year that many business owners and CEOs dread – It’s salary review time! We have been having more and more discussions around this topic as people become nervous around the salary review and […]

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Award rates increase – are you ready?

June 8, 2017 Remuneration, Uncategorized

  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 […]

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What is Salary Benchmarking?

May 15, 2017 Remuneration

In our last newsletter, we raised the question of “Are You Overpaying Your Employees?” (click here if you missed it). It was a great read about incentive programs, and how to reward your employees when they are on the higher end of their salary band. But what if you don’t know what a salary band […]

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Are you overpaying your employees?

April 10, 2017 Remuneration, Uncategorized

We all know how employee salaries and incentives used to work. Company X would hire John, and they would agree on an annual salary for the position. It was so simple. Each year based on performance, John would receive a pay increase of approximately the CPI increase for that year, and all was well. Well, […]

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Cashing Out! Can my employee ‘cash out’ their annual leave?

October 14, 2016 Remuneration

In some cases, yes they can! Until this year, very few employees were able to ‘cash out’ their annual leave entitlements under the Fair Work Act – however recent reforms now allow employees to voluntarily ‘cash in’ or exchange some of their annual leave entitlements for wages. Thanks to the new reforms, almost all 122 […]

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6 Tips for Conducting Effective Salary Reviews

April 8, 2016 Remuneration

As we approach the time of year that many business owners and CEOs dread, I start to hear more and more nervousness surrounding the salary review process. This is caused primarily by a lack of structure and information when it comes to making decisions. I hear questions such as: “How much of an increase do […]

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