Minimum Wage Rates Increases – June 2015
Today the Fair Work Commission announced the results of their annual wage review.
They announced an increase to the minimum wages by 2.5%.
The minimum wage rate has been increased by $16 per week to $656.90 per week ($17.29 per hour).
This increase is effective from the first full pay period on or after 1 July 2015.
What does this mean for you?
- If you are paying an employee strictly as per an Award, then this will increase their wages effective 1st July 2015. Refer to the Award online to get the updated rate.
- If you are paying an employee above award (which in most cases means there should be an Individual Flexibility Agreement) then you will need to keep this in mind when reviewing salaries to ensure you continue to meet minimum requirements, taking into consideration allowances and penalty and overtime rates as prescribed in Awards. We recommend this be reviewed annually. When reviewing salaries some other considerations are business performance, individual performance and behaviour.
- If you have employees that are not covered by an Award, then keep this increase in mind when reviewing salaries together with business performance, individual performance and behaviour.
If you have any questions or require our assistance please do not hesitate to contact us, your HR Business Partners – Leisa, Melissa, Christina, Trish and Alistair.