Dear Santa, all I want for Christmas is well-planned payroll!
As a business owner, it often feels once November hits, time just flies and before you know it, you are locking the doors for Christmas. Among the talk of parties, and which in-laws you are having to spend Christmas with, there are many things that must be planned when it comes to payroll for your staff.
Here are a few points to consider which may help you in preparation for the silly season.
Check the relevant Award your team fall under. Some Awards state that annual leave cannot be deducted for the non-public holidays your business is closed for. Most of the Awards state that annual leave can be deducted when adequate notice is given to employees. It is imperative that the Award is followed and that you are familiar with the rules.
Did you know that some Awards state that annual leave cannot be deducted for the non-public holidays your business is closed for?
Whilst it may sound basic, have a calendar in front of you and look at when the public holidays fall. Highlight what would be the normal days for payroll to be paid. You may choose to prepay before the Christmas break, or schedule the payments to be transferred during your closure. A little bit of planning can ease the stress.
Christmas bonus check
Take a look at the numbers. Whether you are shutting shop for a few days, or just closing for the public holidays, a little bit of a reward can go a long way. Perhaps you have new employees with minimal annual leave accrued or casual employees with no entitlements to be paid public holidays.
Consider paying your team for what would be the two normal working days between Christmas and New Years Day. These dollars may be a small amount to pay, yet be very rewarding, increasing productivity and motivation.
The Christmas Payroll Wrap-up
In summary, Christmas is stressful enough as it is, especially for small businesses trying to keep their books balanced during the slow-down period. By planning ahead, employers can gain some much needed control over their ghosts of Christmas payroll’s past. They can also ensure their employees come back happy, rested and with enough spare change in their pocket that they’re willing to work as hard as ever in the new year.
We wish you all a safe and happy Christmas and New Year!
Wanting Jingle Bells to sound more like Jingle Coins? Sounds like you need a good accountant! Speak to Nurture about Christmas Payroll Management Today!