Love The Silly Season - But hate the added payroll pressure.
We all love the silly season, as business owners it can be a very busy and profitable time, for others it can be a costly exercise with high cost labour and reduced trading levels.
Here is a few tips to ensure you make it through to 2016 on TOP!
- Start Planning NOW ! Its only 17 days to Christmas so if you haven't already done so , start planning today. Rosters need to be finalised and supplies need to be ordered.
- Check your calendar for the Public Holiday Trading Rules 2015, a great place to visit is Fairwork Australia www.fairwork.gov.au/leave/pubicholidays or contact your relevant Industry Association.
- Decide whether you will open on the days declared Public Holidays
- Are you an essential service? If so ,what are the costs of employing staff on these days? Make sure you check your relevant awards?
- Ask yourself " What if " questions; Do you have salaried staff who are engaged to work on Public holidays at normal rates? Can you work yourself ? Do you have juniors who can complete the tasks?
- Cost out each of these scenarios to find out the financial impact on your business i.e most awards specify the hourly rate @double-time and a half on Public Holidays so for example:
- $20 per hourly ordinary rate becomes $50 plus 9.5 % superannuation = $54.75
- Do you have the option to close? Your previous years figures will act as a guide to tell you what trading was like on those days last year. Also compare the total wages to your total takings to decide if it is worth staying open.
- Check your banks closing times to ensure your staff get paid on time remembering if your payday falls on a public holiday to either pay the day prior or arrange with staff after the normal day.
- Be Considerate of your staff. Christmas is a time for family so try and be flexible where possible. If staff are required to work on Christmas day could you split the day into shifts. Maybe ask for volunteers first.
- Enjoy and don't be afraid to ask for help. Our team of trained payroll professionals are always at hand to help you get through any time of the year.