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The minimum wage is set to increase by 2.5%
Yesterday the Fair Work Commission announced results for their annual wage review.
Effective from the first full pay period on or after 1 July 2015, the minimum wage rate has been increased by $16 per week to $656.90 per week ($17.29 per hour).
What does this mean for employers?
- If you are paying an employee as per a strict Award, this will increase their wages accordingly. Refer to the Award online to get the updated rate.
- If you are paying an employee above award (which in most cases means there should be an Individual Flexibility Agreement) then you will need to keep this in mind when reviewing salaries to ensure you continue to meet minimum requirements. You should take into consideration allowances and penalty and overtime rates as prescribed in Awards.
- If you have employees that are not covered by an Award, then keep this increase in mind when reviewing salaries together with business performance, individual performance and behaviour.
The bottom line is, if you don't follow use an award, the employee must be no worse off then the minimum wage if they were to be on an award. If you would like more information on this, please contact our HR partners: HRBD or Watt's Next