NSW Businesses Updated For Recordkeeping Laws?
NSW Businesses Updated For Recordkeeping Laws?
December 13, 2006: According to a PayGlobal survey, 31 percent of NSW organisations have updated their payroll systems to handle the Federal Government’s WorkChoices legislation.
A significant change to businesses under the new legislation is the recordkeeping requirements. These changes in some cases, require a complete overhaul of payroll departments as changing calculations are needed for leave entitlements, time keeping and shift work.
With 31 percent or organisations now updated on the changing legislation when it comes to their payroll systems and another 17 percent currently reviewing changes, there is still a significant chunk of organisations who have not yet set themselves up for the new look recordkeeping requirements.
Reflecting on the difficulties of deploying new payroll systems, the results found that 27 percent of organisations face difficulties in marrying data from multiple sources in to an integrated system.
In what might indicate a positive employment outlook for NSW in 2007, the survey found that 58 percent of organisations are expecting sustained growth in their workforce over the coming year.