Throughout our decades of combined experience, both of the founding partners of WageSafe, being ER Strategies and Resurg, have worked with many different clients in different industries and of varied size. As a result, we are acutely aware of what our clients’ needs are and how they can change depending on different factors within their business.
Rectifying Underpayments – an Expensive and Inefficient Process
Through ER Strategies’ payroll audit work, it was apparent that many businesses were inadvertently underpaying or even overpaying their employees by considerable amounts, which only was discovered when audits were undertaken. The business would end up spending much more than just on paying back underpayments, as the process of calculating the underpayments was extremely manual and inefficient due to the nature of the records we need to deal with.
Until the combination of the expertise of Resurg and ER Strategies to form WageSafe, there was no practical solution to this issue, so businesses were left to focus more on trying to prevent the errors that caused underpayments, but often unsuccessfully due to the complexity of the problem they were trying to solve. Whilst prevention is a crucial element of payroll compliance, it has been both difficult and expensive to keep tabs on the effectiveness on these prevention measures.
Changing Business Needs and Requirements
Many of the other payroll compliance solutions available today are software-based or alternatively require extensive human input. The software-based solutions are generally rigid and don’t have the ability to easily adapt and evolve with business needs or even award changes. Through our extensive work with clients over many years, both ER Strategies and Resurg understand that business needs will change, whether that is due to internal forces like an expanding workforce or new areas of work, or external forces, such as changes to an industrial award.
Solutions that require human input can also open themselves up to human error, which becomes unavoidable over longer time periods, and as a result doesn’t offer the same security and convenience as that provided by WageSafe.
For all these reasons, WageSafe made the conscious decision to deliver an analytics ‘platform’ service, that is both transparent and fully customisable, to provide real, ongoing value to our clients. Through accessing ER Strategies’ expertise in payroll auditing, in conjunction with Resurg’s ability to connect directly into a business’s payroll, time and attendance, and any other relevant data systems, WageSafe is able to continuously deliver payroll audit results, virtually in real time.
Transparency is a key element of our solution and the reason for our use of the Payroll Standard process. Put simply, Payroll Standard maps out awards into plain English, so that the award can be easily understood and interpreted. This allows organisations to maintain consistency of award interpretation across different platforms, different vendors and different Award updates with minimal effort. Click here to read more on Payroll Standard and its importance to WageSafe.
Want to Know More?
If you are a medium to large employer with complex payrolls that you want greater assurance are correctly paying your staff, call us on 02 8907 3898 for a free, no-obligation demonstration of how WageSafe works. We can also give you a quick demonstration of how we have used Payroll Standard processes to map awards into simple to understand ‘decision trees’, ensuring absolute transparency around our interpretations used in our WageSafe calculations.