What is Payroll Standard and why is it so important to WageSafe?

Payroll Standard TM is a process that allows interpretations of various aspects of employment awards into a consistent and universal language, enabling different platforms and vendors and their clients to be able to compare those interpretations in plain English. Additionally, this means that changes to employment awards can be updated with minimal effort.

Payroll Standard’s technology is designed to be:

  • Universal,
  • Consistent,
  • Easy to use.

WageSafe uses Payroll Standard in its processes and calculations, so that the employment awards and enterprise agreements interpretations used are concise, consistent, and unambiguous. This means that all WageSafe calculations resulting from the use of the Payroll Standard, are consistent with previous and future calculations from the same award or agreement.

Payroll and Time and Attendance (‘T&A’) systems are complex and each needs to create its own mechanism to describe the interpretation of an award or agreement and how that interpretation is to be configured within its system, ultimately as computer code. For clients, whenever they want to change T&A systems, they must reconfigure the system and go through the process of interpreting the award or agreement and applying it once again.

Payroll Standard on the other hand, allows businesses to have a consistent interpretation of the award or agreement across different systems and different vendors. Additionally, when an award or agreement is changed, or a business wants to switch systems, Payroll Standard can easily update the interpretation or be moved across systems without causing disruption to the business.

Transparency

An important element of WageSafe’s service is ensuring that everything we do is easily understood and that we are open and transparent about how our system works. Payroll Standard ensures that businesses can have a clear and concise understanding of how the award or agreement is interpreted, and therefore how they ultimately pay their employees using these interpretations.

WageSafe can be used to check it is utilising the same interpretations as the client is using, with our sophisticated payroll calculators able to compare what each employee’s expected pay is, compared to what the employee actually gets paid by their employer, so that any discrepancies can be identified.

Want to Know More?

If you are a medium to large employer with complex payrolls that wants greater assurance that you 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. Click here for more!

Oct 27, 2021

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