Post COVID the way we work is different and some things will never return to the way they were. For leaders and managers in SMEs this comes with some unique challenges. It is now common to have employees we have not met IRL (in real life) and our entire working relationship has been conducted virtually. So, what happens when either performance or changes in business needs (or ability to pay) means that you need to end an employment relationship?
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Some Thoughts from the World of HR
Happy New Financial Year – tips for your business – immediate deductions
Businesses may be able to claim an immediate deduction for expenses through the temporary full expensing measure. This allows a business to claim an immediate deduction for new assets if they have a turnover of less than $5 billion, and for second-hand assets if the business has a turnover of less than $50 million. The assets must be first held, used or installed for use between 6 October 2020 and 30 June 2023.
Happy New Financial Year – tips for your business – superannuation changes
Superannuation contributions will increase from 10.5% to 11% effective July 1, 2023. There will continue to be 0.5% increases each July until 2025 when the superannuation guarantee reaches 12%.
Paid Parental Leave 2023 update – what’s changing?
For babies born or adopted after 1st July 2023, there are some important changes to Australian Government funded Parental Leave Pay system. The current entitlement to 18 weeks of parental leave pay at minimum wage will increase to 20 weeks, or 100 days for those who work 5 days a week. This is a family entitlement which means that if you have a partner, they’ll access at least 2 weeks of this leave. Single parents can access the full 20 weeks themselves.
Award update and the national wage increase
The Fair Work Commission recently announced Australia’s minimum wage will increase from 1 July 2023 to $882.80 per week, amounting to an increase of 5.75%. The new national minimum wage will be $882.80 per week or $23.23 per hour based on a 38-hour work week.
As an employer there are several actions you can take to ensure your business is paying your employees correctly, aligned with the new rates, protecting employees and your business against financial and well-being risks.
Psychosocial Hazards
Our mental health is just like our physical health and is just as important. Just because you can’t necessarily see a mental health concern, this doesn’t mean it isn’t real or important. Psychosocial health should be considered in the same way that physical health is in the workplace. This means managing hazards, removing or minimising risks and providing safe and supportive work environments.
No-cost and low-cost single touch payroll solutions
In a Micro business every dollar counts, and time is money as the saying goes. So at this time of year when there are extra administration and governance burdens on business owners, it is important to save time and effort where you can. The ATO has put together a no-cost and low-cost Single Touch Payroll (STP) product register to help micro employers (those with one to four employees) who need to report through STP more effectively.
When an employee’s health issues affect performance
Managing performance can be difficult to approach. Adding an employee’s medical issues into the mix can make matters more complex very quickly. The most appropriate strategy to reach a resolution is dependent on the medical issue you are dealing with.
Job description vs job ad – do you know the difference?
If your organisation has a position to fill it can be quite confusing on what’s needed. Do I need a job description? Do I need to write a separate job advertisement? The answer is: you need both. There is a common misconception that these documents are similar however a job description and a job ad serve different purposes and contain different information. Understanding the difference between them can be useful for both employers and job seekers.
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