The Fair Work Commission has released its latest National Minimum Wage (NMW) Order, and draft Award wage determinations set to take effect from July 1, 2024. Employers must be aware of the new Award rates.
National Minimum Wage Increase:
The NMW will be raised to $915.90 per week or $24.10 per hour. This applies universally to all employees not covered by specific awards or agreements.
Find the Draft Wage Rate Determinations covering your employees here
Steps for Employers to Ensure Compliance:
(1) Update Payroll Systems: Adjust payroll calculations to incorporate the new NMW and increased award rates.
(2) Review Employment Contracts: Ensure all contracts reflect the updated wage provisions, especially for casual, junior, and disabled employees.
(3) Communication with Employees: Inform employees about the upcoming changes to their wages and ensure transparency in how these changes will be implemented.
(4) Training for HR and Payroll Staff: Ensure that all relevant staff are aware of the changes and understand how to implement them correctly.
Further Information:
For further details and tailored advice on how these changes impact your organisation, contact Maguire Legal.