The effect of payroll complexity
As briefly explained above, it’s not surprising that businesses find Australia’s payroll environment a difficult area to manage and execute effectively and accurately.
Unfortunately, we often see this resulting in costly consequences (both financial and brand-wise) for businesses who ignore or misconstrue what is required of them. As the number of employment laws and regulations increase, businesses of all sizes are facing ongoing payroll complexities, and the risk of penalties for non-compliance has never been greater.
With the constant legislative and technological changes of late, it is critical that companies are compliant and operating as efficiently as possible. This is essential for protecting wellbeing and the overall experience of employees.
This is where greater demand of the best modern HCM (Human Capital Management) solutions are emerging. Organisations are required to look for more efficient and profitable digital cloud-based tools to track their labour cost, performance and efficiency in real-time.
Download our ebook to find out more about the upcoming Australian legislation changes and how you can use modern HCM solutions to best put them into action in a positive way.