Posts Tagged ‘employee benefits’

Keeping Labour Costs on Track

July 13th, 2013

Regardless of the type of business that you operate, calculating labour costs is an essential part of the process. Your labour costs factor into the big financial picture of any business. The target percentage does vary by business and a number of other factors. However, some things that always need to be considered when it comes to keeping labour costs on track.

A focus on time management skills – labour costing involves knowing how to do the math correctly, and planning the weekly schedule accordingly. In order to meet these targets, you have to set realistic goals regarding what can …

Read more »

Payroll Questions: What Do You Pay Once You’ve Fired a Team Member?

May 30th, 2013

When an employee is leaving the company, there are some minimum financial compensation requirements that you must submit to as an employer. These requirements, according to the Australian Government Fair Work Ombudsmanapply whether you have terminated the employee, or if they resigned.

Pay all outstanding funds – you must pay an employee that is leaving their full wages based on their hours worked, or based on their normal salary. This includes any overtime hours worked, and any penalty rates that apply. Just because an employee is leaving doesn’t mean you owe them any less than an employee that is remaining …

Read more »

Calculating Labour Costs To Remain on Budget

May 10th, 2013

In order to determine if you are in fact hiring the proper number of staff to work, not just to get the job done, you need to calculate your labour costs. This will determine if in fact your overhead costs are equal to what you are paying your employees.

If your labour costs are too high, then you need to look at making reductions, as overall you are not walking away with reasonable earnings. Cutting down on expenses doesn’t need to mean cutting own on staff, provided it reduces your overall costs. Simply ensure that your earnings potential is higher. …

Read more »

How Does Minimum Wage Work in Australia?

April 3rd, 2013

Those that are new to working in Australia’s economy, may not be familiar with the standards for minimum wage. There are some important facts to note:

Minimum wage standards apply to individuals that are age 21 and older, and that are employed full-time.
Younger employees are paid a percentage based on their age, and the minimum wage standard.
Not all employees are paid minimum wage. Other agreements are set and negotiated independently. In most cases, these are higher than the minimum wage standard.
Full-time adult employees are also paid additional benefits by the Australian government.

Part-time employees are paid a rate …

Read more »

What Must Be Included With Employee Final Pay?

February 3rd, 2013

When an employee is leaving the company, there are some minimum financial compensation requirements that you must submit to as an employer. These requirements, according to the Australian Government Fair Work Ombudsman apply whether you have terminated the employee, or if they resigned.

Pay all outstanding funds – you must pay an employee that is leaving their full wages based on their hours worked, or based on their normal salary. This includes any overtime hours worked, and any penalty rates that apply. Just because an employee is leaving doesn’t mean you owe them any less than an employee that is …

Read more »

Should You Offer Extra Benefits to Employees?

August 8th, 2012

How do you reward hardworking employees? Some companies offer pay increases for their workers who exceed performance standards, but many employers are finding that rewards don’t always have to come in the form of monetary compensation. That’s right, extra employee benefits are the new raise. That doesn’t mean there aren’t questions about these extra benefits, and if they really benefit you.

What Extra Benefits Are Offered?

Everyone needs the chance to relax, sweat, and release some tension once they’ve clocked out for the day. Gym memberships, massages, and even acupuncture treatments are all popular benefits …

Read more »

Vacation Time For Hourly Employees?

July 14th, 2012

Everyone loves holidays. They’re a time to relax, rejuvenate, and most importantly: not work. For many, though, not working means not being paid. Salaried employees are given a specific number of days to use toward vacation, but for casual employees it’s a very different situation. Casual employees are often called hourly employees, and their pay is nearly always based on the number of hours they work as calculated through time clock systems. When casual employees aren’t working, they aren’t getting paid.

Now, as an employer, it’s your decision to offer holiday pay to casual employees. …

Read more »