What do organisations need to think about when assessing their payroll systems for accuracy and compliance to the relevant awards and regulations? How can COVID-19 impact your payroll services?
Aurion’s Executive General Manager Kathryn Wilson and Product and Marketing Manager Reianna Vercoe answer these questions and explain the key issues businesses need to face to achieve payroll compliance, with confidence.
“Australian payroll is one of the most complex globally,” says Aurion’s EGM, Kathryn Wilson. “There’s changing rules and regulations, and it’s about making sure you stay up to date.”
Citing the large number of high-profile companies that have had to deal with massive underpayment restitution, Kathryn comments that “Awards are so complex these days even the big boys can get it wrong.”
How good is your payroll? We show you what an ideal payroll solution looks like, in terms of managing risk, cost and security for your peace of mind.
Access the webinar Payroll Compliance 101 on our YouTube channel.
How good is your payroll?
How confident are you that your back-end process meets all regulations? According the Aurion EGM Kathryn, “It’s not a set and forget, it’s really about ensuring you’re audited and compliant year on year … The damage to your brand if you get pay wrong it’s a really big bridge to climb over.”
Payroll compliance risk areas:
- Award interpretation
- Onboarding communications insecure
- Termination process
- Employee super contributions
- Leave management
- Manual processes
- Irregular or absent auditing
Product and Marketing Manager Reianna offers practical advice for ensuring data security. “Probably the most common data privacy risk is manual handling of information,” she says. “So, where possible use a secure portal like a mobile app to capture their details from the day the employee first engages with your business.”
Access Aurion’s Payroll Compliance Checklist.
Why outsource your payroll?
Kathryn recognises that although their customers are experts in their core business, there’s other activities like payroll that are needed to keep the wheels turning, and outsourcing is about having the confidence that an essential function like payroll is accurate and secure every time.
“I look at outsourcing as a true value add,” says Kathryn, “it’s something you can put a fixed cost to … and it’s done to the right SLA every single week.”
Rei finishes the webinar with an appealing offer: “We can help you to do a cost analysis that will show you how outsourcing is at least competitive and more often than not, better value for money than doing it yourself.”
Find out more about how Aurion helps you achieve compliance, see our blog 2020 Federal Budget – Highlights for Payroll Teams; and to have Aurion’s monthly compliance update delivered straight to your inbox, subscribe to our mailing list today.