For many of us SME business owners and managers, it has been a tough few years; fires, floods, COVID, tough economic environment. One would be enough, but it has a series of events. No wonder Psychological Safety remains a top priority. 2023 saw the introduction of laws and Code of Best Practice to “help” us navigate the tricky areas of Psychological Safety. But the reality is, some of the…
For a small and medium sized business, even a minor cyber security incident can have devastating impacts. Our research shows that in the 2022-23 financial year, the average cost of cybercrime for small business increased to $46,000. For medium businesses, the average cost is reported to be $97,000 in the same period. With businesses holding so much information on our customers and employees, every business needs to be aware of how they handle both confidential and sensitive…
How much time do you spend ensuring compliance in your business? The Australian Productivity Commission estimates that the average cost of compliance for small businesses was approximately $24,500, while medium- sized businesses spend $100,255 per annum. When we invest so much to protect our teams, our business and our clients, it’s important to know that the…
Like them or loathe them, policies are essential. Many of us have ticked the boxes to have a WH&S Policy or a Bullying Policy in place. Don’t assume that they will be OK as many of the standard templates from 12 months ago don’t meet the current standards. The introduction of Psychological Safety and Right to Disconnect legislation means these may need to be…
The start of each Financial Year is a time for many of us to set new goals. I often hear from clients “this year I’ll focus on compliance. I know it is important!” But as we are still busy running our business, the weeks creep by and suddenly we haven’t had time to get compliant. Well, there is always next year, right? Unfortunately, when it comes to HR compliance, you really can’t afford to…
Bonus Guidelines for employee payments establish clear and fair criteria for determining when and how bonuses are awarded to the team. These guidelines help align employee performance with company objectives, company values, motivate the team and provide transparency. Guidelines ensure that bonuses…
Salary benchmarking is a useful tool to add to your salary review process. It ensures your business remains competitive in the market and you are able to attract and retain the best people in your team. Salary benchmarking reviews salary…
When you are a generous and supportive employer, you don’t need to pay twice. A common myth is that when you pay an hourly rate above the award, the penalties and overtime are calculated on the contractual hourly rate. In other words, if I agree to pay you $40 / hour and you work overtime the overtime rate is…
Are you confident you know which team members are really employees? Are you meeting your obligations? Don’t let the Superannuation, PAYG and FBT implications catch you out. We spend a lot of time supporting clients to correctly allocate the people they engage as Permanent Employees, Casual Employees, Contactor deemed an Employee or Independent Contractors. For some of our clients, the…
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