A recent investigation revealed $473 million in underpayments affecting thousands of Australian workers. This issue has brought attention to the challenges small businesses face in navigating Australia’s complex awards system, which specifies minimum pay rates and conditions by industry and role.
According to Fred van der Tang, CEO of payroll compliance firm PaidRight, even minor misinterpretations can lead to serious financial, legal, and reputational consequences. The intricate awards, which may vary across different employee roles within a single business, make compliance difficult, particularly for small businesses with limited HR resources.
As a result, accidental underpayments are common, impacting both businesses and employees. With penalties and risks on the rise, the importance of payroll compliance technology, like PaidRight’s solutions, is underscored.
Check out the full article on Small Business Connections to learn more about payroll compliance strategies for small businesses.
