Accurate Payroll Award Interpretation Compliance Maybe the Biggest Minefield for Businesses in 2023/24

“In November 2022, a Melbourne restaurant became the first Australian employer to face criminal prosecution for wage theft. The Wage Inspectorate Victoria filed 94 charges against the business and its officer, who are alleged to have withheld more than $7000 in employee entitlements – including wages, penalty rates and superannuation – from four young workers.”  Alex Christian Legal HR Magazine

“Victorians can be confident the Wage Inspectorate is doggedly investigating wage theft reports and intends to bring further appropriate matters before the court,” said Robert Hortle, Commissioner of Wage Inspectorate Victoria.

Payroll Award Interpretation accuracy is core to all business today as highlighted on the number pf cases being brought to the courts. “Amid criminal prosecutions, million-dollar fines and high-profile court cases, employee underpayments are firmly in the spotlight.” Alex Christian Legal HRM Magazine

Inzenius is the solution that can deliver accurate award interpretation from the system timesheet efficiently reducing complexity in payroll processing with many other employee centric valuable tools in the one application.

The Inzenius Rostering with inbuilt Timekeeping validation for automated compliant Timesheet creation through to full Payroll processing delivers staff cost reduction, with compliant and efficient Payroll. It reduces the risks of errors and omissions in the bushiness payroll processes.

Competitive labour markets together with the government’s drive to increase overall payroll labour costs by moving to comply with accurate award interpretation of the industry rules and conditions is creating a tsunami coming to flatten us.

Implementing a system that will help protect us with efficient processes from Rostering, Timekeeping and Timesheet management with inbuilt Award Interpretation and Payroll, will improve efficiency, saving a lot of time whilst improving overall labour cost management.

Employee rostering and time management are critical elements of putting downward pressure on our payroll costs. These functions are undertaken at business unit level and we need to deliver efficient, easy to use tools for the team supervisors to use.

The FWO requires the maintenance and application of employee times into the timesheet with both supervisor and employee signing off the timesheet created.

These timesheets need to be maintained for most staff including many salaried employees that up to 2021 may have not kept such records.

Automating the award interpretation from the in-system approved timesheet for automated payroll reduces the risk of errors and omissions.

Having Rostering, Timekeeping and Timesheet management with in-built Award Interpretation and Payroll functions in one system will reduce complexity whilst improving compliance and employee satisfaction.

The McKinsey team found that companies that take on advantage of digitalization opportunities improved their productivity.

In Australia, we need to tackle our lack of productivity improvement now, with the government’s drive to increase pay rates and award conditions. This together with the government and FWO pay compliance activities brings these issues to the front of mind for business in 2023.

Having in one system, full integration from Recruitment, Onboarding, and HRM delivers cost-reducing efficiency, employee satisfaction, payroll accuracy.

The Inzenius package can include all the processes from employee Onboarding linked to Rostering, Time & Attendance, Australian Compliant Award Interpreter from the approved Electronic Timesheet and STP2-approved Payroll processing and distributions in one.

Employee device HRM Rostering Timekeeping and Payroll system in one include onboarding data entry efficiency.

Employee device HRM Rostering Timekeeping and Payroll system in one include onboarding data entry efficiency.

Electronic Timesheet Software with GPS locating reporting back to the staff rostering system.