If you’re a business owner or manager, get ready for the next minimum wage increase.
From 1 April this year, an adult starting wage will go up from $22.70 to $23.15 an hour. Starting-out and training minimum wages also go up from $18.16 to $18.52 an hour.
Now is the time to talk to your accountant or payroll provider to make sure everything is lined up. It’s also a good opportunity to check your employment contracts and make sure you have all the right systems and processes in place.
Remember to let your employees know in writing – either by email or letter - that they will soon be on a new hourly rate.
It’s important to factor in your expected increased costs in your budget forecasts and planning for the year too so that you can manage the effect of high wages and holiday pay liabilities.