NEWS ALERT - ANNUAL WAGE REVIEW 2020
The Fair Work Commission (FWC) handed down this morning their highly anticipated Annual Wage Review Decision.
In summary the FWC has decided to increase all modern award wages by 1.75% and the National Minimum Wage (this applies to award free employees) to $753.80/week. The FWC recognised the particular impact of COVID-19 on various industries and sectors and in doing so decided to apply different operative dates for the increase to different groups of modern awards as follows:
Group 1 Awards = 1 July 2020
Group 2 Awards = 1 November 2020
Group 3 Awards = 1 February 2021
What group your modern award(s) fall into will determine when the 1.75% increase will apply. A summary of the decision can be found at Annual Wage Review 2019–20.
We have been assisting a range of small, medium and large organisations in restructuring their businesses through this difficult time to ensure they remain profitable and sustainable. If you need any advice or assistance on what impact the new annual wage increase will have on your business and practical, straightforward advice and tools on how to minimise wage cost blow outs and time consuming staff issues then please contact the expert team at Sharpe Workplace Solutions on 1300 135 782, or email your enquiry to email@example.com.
The above information is intended as general information only and not as professional advice. If you need further guidance, please don’t hesitate to contact us.