Wages audit saves Sleep City half-a-million dollars per annum
SYDNEY, October 7, 2009: Wages audit saves Sleep City half-a-million dollars per annum - Correct interpretation of employee awards stops $500K annual payroll seepage
Australian businesses could be losing hundreds and thousands of dollars each year by unwittingly paying excessive loadings, allowances and penalty rates based on incorrect interpretation of staff awards and agreements.
National bedding retail chain Sleep City, for example, is now saving up to half-a-million dollars a year on payroll costs after engaging HR and payroll specialists, The Human Resources Centre, to audit their employee awards and agreements.
The audit found that Sleep City had unknowingly been paying its staff excessive loadings on annual leave and sick leave nationally, as well as penalty rates that were well above the award.
According to The Human Resources Centre managing director, Katherine Graham, businesses need to ensure they are correctly interpreting and applying the different awards and agreements for all categories of staff.
“Massive cost savings can come down to a matter of correctly interpreting employee awards, as in the case of Sleep City,” Graham says. “But the bigger the company, the more unwieldy payroll can get and the harder it can be to keep on top of, interpret and implement all the legislative changes that affect various awards and penalties.
“It’s not unrealistic for many companies to expect to find some, if not similar, cost savings through an internal or outsourced audit of their payroll.”
Sleep City general manager of corporate services, Chris Kouvardas, says: “Our decision to work with an outsourced HR company with expertise across the entire payroll function – from award interpretation to statutory compliance – clearly had significant bottom-line effects, and allowed us to better manage our staff rewards programs and other employee-related benefits.”
Media contact and interviews: Managing director of The Human Resources Centre, Katherine Graham, is available for media interviews and background information. Graham has more than 15 years’ experience in human resources and payroll management.
To arrange an interview or for further information, including case studies, please contact Daryl Phillips on dphillips@humanresourcescentre.com.au
About The Human Resources Centre: The Human Resources Centre is an Australian owned and operated human resources consultancy, offering a wide range of services in all areas of HR management, including strategic, operational, legal, training and payroll functions.
With offices in each capital city, The Human Resources Centre assists organisations in areas such as: review of their HR structures and practices, compliance with workplace laws; recruitment and workplace policies and procedures; remuneration and performance management; staff training and development; workplace relations and mediation; occupational health and safety; payroll management and organisational culture.
The Human Resources Centre also operates The Resolution Centre, a specialist division advising on workplace conflict, mediation and employment law, and The Managed Payroll Centre, which offers outsourced payroll services.
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