Managing payroll can be a complex task, especially when it comes to staying compliant with the SCHADS Award 2024. A study by Rippling and Censuswide surveyed 500 payroll managers in Australian companies and revealed that 59% of companies reported payroll errors in the past two years, with the rate rising to 67% in larger companies.
The common issues that were mentioned include overpayments & underpayments (48%), delayed payments (44%), employee misclassifications (28%) as well as failure to contribute for superannuation (24%). The root cause of these errors overwhelmingly arise from using manual data entry and fragmented systems. With constant updates and complex requirements, having the right payroll software is essential to ensure compliance and streamline operations.
Why does the SCHADS Award 2024 Matter in This?
The SCHADS (Social, Community, Home Care, and Disability Services) Award is crucial for industries such as community services, home care, and disability support. It sets out the minimum wages and conditions for employees covered by this award, ensuring fair pay and treatment.
What should I look out for?
When choosing payroll software to manage the SCHADS Award, it is recommended to consider these essential features:
- Award Compliance Tracking
The software can automatically calculate pay rates, overtime, and penalties according to the latest modern awards updates, minimising the risk of errors and non-compliance.
- Customizable Payroll Options
Given the different roles and work arrangements in the SCHADS sectors, the payroll software should offer flexibility in managing different employee classification, agreements, and pay cycles.
- HRMS Integration
Integration with HRMS (Human Resource Management System) allows for a unified approach to managing employee information, payroll, and compliance, enhancing efficiency and reducing administrative tasks.
- User-Friendly Interface
A simple, intuitive interface makes it easier for HR managers to navigate the system, update basic information, and run payroll without extensive training or technical support.
- Reporting and Analytics
Having 360° reporting and analytics features are important for tracking payroll expenses, identifying trends, and ensuring transparency. These insights can help HR managers make informed decisions and optimise their payroll processes too.
To Wrap up
Ultimately, it’s important to clearly identify your business needs. Consider factors such as the number of employees you need to pay, the number of administrators who will use the software, your budget, ease of use, and the level of ongoing support required. Choosing the best payroll software is key for managing your business’s SCHADS Award 2024 rates effectively.
How does Workstem help?
Simplify your payroll process and ensure accurate pay rates with Workstem’s automated payroll system. Our pre-built modern award interpretation software covers 122+ awards and 34 EBAs, and keeps you up-to-date with penalty rates and other award entitlements.
Choose between our Standard and Advanced plans, and enjoy a range of benefits such as Fair Work compliance, an employee self-service App, and custom rule set.
Book a free demo with our payroll experts. Experience the efficiency and accuracy of Workstem today!
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