Navigating the complex landscape of payroll management can often feel like a Herculean task. It includes ensuring accuracy in employee payments, accounting for variations in pay due to overtime or leave, the inclusion of allowances and adherence to Modern Awards, Enterprise Agreements and other employment obligations.
With an increased focus on employment obligations and compliance and enforcement from the Fair Work Ombudsman (FWO), recent survey results from the Australian Payroll Association were not surprising when highlighting that 38 per cent of payroll managers surveyed said that ‘their organisation has changed some pay compliance processes or systems in relation to their own obligations to employee pay and entitlements’. While this is encouraging, it was disappointing to read that ‘46 per cent of payroll managers surveyed said their organisation has not made any changes or committed to making changes’ in their compliance processes.
Many companies are placing more importance on reviewing their reports or spot-checking their payroll results. Some have increased the focus on employee reporting of potential problems and, to a lesser degree, additional training for payroll teams. In these challenges, the true value of a Pay Compliance solution emerges. It helps you ensure accuracy, improves processes and monitors your entire payroll, every pay period, helping your company to stay in line with employment obligations without adding extra work for your already strained payroll team.
This blog is a concise summary of our Pay Compliance solution and how it helps you achieve accuracy and governance without increasing the workload of your already busy teams.
Understanding Australia’s payroll regulations
Australian businesses must comply with a raft of rules, regulations and obligations. Non-compliance can lead to severe penalties and significantly damage your company’s standing and reputation, not to mention the financial repercussions. A look at the FWO’s media release page will give you a good idea of the consequences and cost of non-compliance.
Employment obligations apply to all industries and their staff – no matter the roles. Ensuring you correctly compensate employees can be a complex process, and it’s not uncommon for companies, especially smaller ones with fewer resources or larger ones with more complex obligations, to struggle with ensuring total compliance in their payroll processes.
How does Pay Compliance work?
Tambla’s Pay Compliance tool is a sophisticated tool that simplifies the process of payroll governance by providing an accurate comparison against your actual payroll results. It aggregates your timesheets, rostering, and payroll system data, compares this data against an external and independent model and compares your actual pay results offline.
The Pay Compliance tool alerts you to potential issues or variations that may lead to errors or non-compliance. For example, if your business operates in the retail sector, the Pay Compliance tool ensures that your employee payments align with the General Retail Industry Award and comply with all relevant obligations.
Our software doesn’t just identify variations; it provides meaningful, visual insights for easy compliance. These insights allow for a comprehensive analysis of each pay period across all your locations, flagging areas of concern. When a discrepancy is detected, you can swiftly delve into the layers of data – right down to an individual employee, shift or timesheet. This level of detail allows you to pinpoint the cause of the variation and take corrective action.
Key benefits of our Pay Compliance solution
Reduced manual processes: We designed our Pay Compliance to automate tasks typically completed manually. The tool systematically compares your entire payroll data against industrial instruments, minimises errors and reduces the time spent on random manual checks, leading to increased efficiency.
Integrates with existing systems: Our Pay Compliance solution integrates with your existing workforce management systems, sourcing information from your timesheets, roster, and payroll platforms. This feature ensures a smooth flow of data and consistency across your payroll management process.
Visual dashboards: With our Pay Compliance solution, you can access visual dashboards that offer meaningful and actionable insights. This visual representation allows for a more intuitive understanding of your payroll situation, highlighting areas of concern and facilitating quick decision-making.
Increased accuracy: The core benefit of our Pay Compliance solution lies in its ability to improve payroll governance. Providing a complete offline comparison against an external and independent model allows for a precise and comprehensive comparison of your payroll and removes the risk associated with fixed reports on alone or random spot checks. So you can identify problems early and comply with relevant obligations.
Conclusion
Our Pay Compliance service is a powerful tool for improving your company’s payroll governance processes. It helps you validate payroll results, enables detailed analysis and quickly highlights variations. We made our tool to do more than just follow the rules; we designed it to help your business work more efficiently and make informed decisions about payroll.
Why choose Tambla’s Pay Compliance solution?
While Payroll Compliance is an emerging technology in its own right, companies like Tambla have provided these capabilities for many years through Award and Agreement Interpretation Engines designed to accommodate Australia’s complex industrial instruments.
Our proven experience in this field, coupled with a focus on HR analytics and working with large companies to understand their requirements around payroll governance, has been applied to our Pay Compliance solution. The result is an easy-to-use, automated platform that will fit into your Governance Risk and Compliance framework and software that can reduce the complexities of the calculations associated with ensuring your staff are paid correctly for hours worked.
We support your payroll operations by ensuring they have the necessary insights into the payroll process. Visit our Tambla Pay Compliance page for more on our capabilities.
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Payroll Compliance: A guide for improving payroll governance
