In today’s fast-paced business world, between payroll, employee onboarding, rostering, and keeping up with tax and superannuation obligations, there’s a lot that can go wrong—especially when compliance with labor laws like the Fair Work and Modern Awards is crucial. Here’s where an all-in-one payroll system comes in, simplifying these processes and ensuring your business stays compliant while reducing the administrative burden on your HR staff.
By streamlining tasks into a single platform, you can save time, reduce errors, and focus on what matters most: growing your business.
Payroll is Now Easy with All-in-One System
Payroll is one of the most time-consuming HR tasks, especially when juggling tax, superannuation, and Single Touch Payroll (STP) reporting. Applying a payroll system in your business ensures that every aspect of payroll is automated and compliant with workplace laws. You no longer have to worry about manual calculations or missed payments; the system tracks everything from wages to leave entitlements.
For example, medium to large businesses often face challenges in calculating overtime and penalty rates for employees covered by different Modern Awards. By using a payroll system like Workstem, it will automatically apply the correct rates based on the award, saving your team hours of manual work and reducing risk of human errors.
Fair Work and Modern Award Compliance
In Australia, we all know labor laws are strict, and non-compliance can lead to significant fines. It is recommended that businesses adopt an all-in-one HR process to ensure compliance with key regulations. Whether it’s tracking employee working hours or ensuring that overtime is correctly paid, just leave it all to the system.
The Fair Work Act, for example, requires employers to maintain accurate records of employee hours, including breaks and overtime. Workstem’s attendance and rostering features ensure that these records are automatically updated, helping businesses avoid penalties and ensuring employees receive the correct entitlements.
Streamlined HR Process from Onboarding to Payroll
Some payroll systems aren’t just about handling payments. It streamlines the entire HR process, from onboarding new employees to tracking leave and processing expense claims. When a new employee joins the company, they can be seamlessly integrated into the system, ensuring that all their details—employment status and information, tax file number, superannuation—are all recorded from day one.
For businesses with many employees, managing leave entitlements and expenses can be a headache. Workstem allows HR managers to track leave balances, approve requests, and process expense claims, all in one place. This means no more paperwork or multiple systems, everything is stored and managed in one place.
Riskier Industries Need to Watch Out
Take the fast food, restaurant and cafe industry, for example, which relies heavily on part-time and casual employees. Managing rosters and ensuring compliance with Modern Awards for different roles have been a huge nightmare.
In a recent news article published by the FWO, there were multiple investigations done in Melbourne and found that 71 businesses have breached workplace laws and 24 of them had failed to meet pay slip or record-keeping requirements. A total of 1,004 workers were underpaid which is a very alarming problem. Needless to say, there were fines of close to $55,000 paid for which could all be prevented if they had complied with the work laws.
How Can 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!