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Minimum Wage Increase

Minimum Wage increase costs business almost $1000 extra per employee
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Minimum Wage Increase

1 June 2016

 
Minimum Wage increase costs business almost $1000 extra per employee
 
The minimum wage has increased by 41 cents meaning you could be paying staff an extra $15.80 per week or $821.60 per annum.
 
The recent decision by The Fair Work Commission to increase minimum wages by 2.4% means you could be paying staff almost $1000 extra per year as the national minimum wages will increase from $656.90 per week or $17.29 per hour to $672.70 per week or $17.70 per hour as of 1 July 2016.
 
You will need to increase your wages if you have employees covered under:

  • the national minimum wage
  •  a modern award or
  •  a registered agreement (in some cases)
 
Most employees are covered by an award; however this change also applies to employees who are not covered by an award or agreement.
 
The change will not affect employees who receive more than the new minimum wage.
 
Are you sure you are paying your staff correctly? Take our Risk Profiler to see if you are at risk of paying staff incorrectly. 

Assess your risk in 2 minutes with our free Risk Profiler.

Why Care?:
  • Lodging a claim is cheap as chips - only $68.60
  • 75% of unfair dismissal claims result in compensation payments
  • Legal fees can range from $2,000 - $4,000 a week


Even if you believe that you're doing the right thing by your employees, it may still not be enough to avoid a workplace claim by the employee.



 

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