How well do you know the Fair Work Act? Would you be ready for the Fair Work Ombudsman to pay you a visit?
Research by TSheets, a time tracking company based in Sydney, has revealed that non-compliance has cost businesses more than $161 million in back pay since the legislation was passed and that in one industry — fast food — only a third of businesses were found to be fully compliant. Each year, roughly $27 million of unpaid wages is recovered for employees due to minimum wage and overtime violations.
So what can you do to ensure you comply? TSheets has revealed nine things you can do today to help your business comply with the law and keep the ombudsman away from your door.
- Know that Fair Work does apply to you
- Give the national employment standards to every employee
- Understand what “reasonable” overtime means
- Know your awards (or pay someone else to)
- Check that your managers really are award-free
- Take another look at your payroll (and hire a good bookkeeper)
- Get your record-keeping right
- Remember that time off is just as important as time on
- Find out who’s responsible for complying with Fair Work
If you aren’t aware of your obligations, contact a BAS Agent/Bookkeeper today. Australian BAS Agents/Bookkeepers undertake intensive training and education and are well placed to assist you implement a payroll system that will meet all the requirements of the Fair Work system.
Read more detail on each of the 9 vital points you should review about your fair work compliance on the TSheets blog.