Payroll specialists are set to receive the biggest salary bumps within the financial sector

According to an Australian Financial Review article in April last year, payroll specialists and internal auditors are set to receive the biggest salaries bumps of around 5 to 8 per cent, while the rest of the finance sector will be lucky to secure 2 to 3 per cent pay rises.

Recruiter Robert Half canvassed 200 CFO’s across Australia and found more than half expect to hire this year, with an interesting trend towards using contractors rather than full-time employment to get them over seasonal humps.

“There’s a lack of niche technical experts and there are a plethora of career alternatives for finance professionals these days; payroll is not seen as an attractive career path,” said Robert Half Director, Andrew Bushfield.

Aside from the economic landscape, the legislative environment provides a compelling reason to consider outsourcing payroll functions. In FY 2013-2015, penalties issued by Fair Work Australia more than doubled, delivering $1.9M in payments to employees. The cost of getting payroll wrong cam be substantial, sometimes crippling in small businesses.

Some of the common issues include:

Ayers Group understand the complexity of payroll and and the importance of getting it right. We have been managing payroll for 18 years for thousands of employees and contractors.

Want more information on payroll solutions? Contact us today.