A Look into Payroll Processing for SCHADS Award 2024

A Look into Payroll Processing for SCHADS Award 2024

Table of content

  1. Key Challenges in SCHADS Payroll Processing
  2. Still Running Payroll Manually?
  3. Simplest Way to Give a SCHADS about Payroll
  4. To Wrap Up
  5. How Does Workstem Help?

We can all agree that one of the most important aspects in the SCHADS Award 2024 is payroll processing. Businesses operating in the social, community, home care, and disability services sectors understand this yet it still seems like a complicated task for most.

This is especially crucial when it comes to the end-of-year holiday season when more part-time and casual employees are higher in demand. Therefore, businesses must be extra cautious of these entitlements and rules during this period and ensure that payroll processes comply with Fair Work’s updated regulations.

Key Challenges in SCHADS Payroll Processing

Managing payroll for employees comes with several common challenges that medium to large business face:

  • Complexity of penalty rates: Employers must account for shift penalties, weekend rates, and overtime pay, which can vary depending on the specific employee’s role and hours worked.
  • Multiple shifts and locations: Many employees work across different shifts and locations, making it challenging to maintain appropriate records and calculate the accurate pay.
  • Award interpretation: The SCHADS Award 2024 has specific guidelines that businesses need to follow correctly to ensure compliance with employee entitlements.

Still Running Payroll Manually?

As can be seen above, manual payroll processing can create significant challenges. These issues often stem from the complexity of the award itself and when payroll is processed manually, human errors are far more likely to occur, it will be very time-consuming for example by going through timesheets and a significant concern on compliance matters. In summary, using outdated systems often leads to:

  • Incorrect wage calculations: Failure to correctly calculate wages and entitlements can result in underpayments or overpayments, causing compliance risks.
  • Payroll delays: Processing large amounts of data manually can slow down payroll cycles, leading to delay in employee payments and ultimately dissatisfaction.
  • Compliance risks: This is the most common problem businesses face is failing to adhere to the SCHADS Award 2024, which resulted in large amounts of penalties and employee disputes.

Simplest Way to Give a SCHADS about Payroll

Of course, automating your business’s payroll process is the most effective solution to manage all employees. Here’s how payroll systems can help:

  • Automatic award interpretation: Modern payroll software interprets the SCHADS award and calculates wages, allowances, and penalties automatically, ensuring compliance with regulations to prevent your business from unnecessary costs.
  • Efficient rostering: Payroll systems integrated with rostering tools can easily schedule and track shifts, reducing the difficulty of managing multiple employees across multiple locations.
  • Accurate time tracking: Automated systems allow real-time tracking of hours worked, overtime, and leave, making it easier to keep a record that employees are paid correctly and on time.

Additionally, it will be a plus point if the payroll system has these extra features:

  • Employee accessibility: Allow employees to access their schedules, leave balances, and payslips via mobile app.
  • Cloud-based: Enables easy access to payroll data from anywhere and anytime with the latest updates.
  • Easy integration: Very useful to businesses that are using multiple systems which often slows down the overall efficiency, improve the process by integrating everything into one for a seamless workflow.

To Wrap Up

In short, relying on manual or outdated payroll processes is not only inefficient but also exposes businesses to compliance risks, financial penalties, and operational inefficiencies. Depending on your business, focusing on the right aspects can ensure your payroll process runs smoothly while complying to Fair Work regulations and SCHADS.

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. We have integrated our system with Microsoft and Netsuite to provide you with a complete HR SaaS solution for your business.

Book a free demo with our payroll experts. Experience the efficiency and accuracy of Workstem today!

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