Employment laws have never changed more rapidly.
On 8 April 2020, the Federal Government introduced the Coronavirus Economic Response Package Omnibus (Measures No. 2) Act 2020 (Cth). This legislation amends the Fair Work Act 2009 (Cth) as part of the new JobKeeper scheme. Importantly, it provides employers with more options to manage wage costs.
There is now a lot of information for employers to digest when seeking to manage wage costs. Below is an ‘at a glance’ guide to some options that may be available to businesses.
Employers have a range of options available to them if they are seeking to manage wage costs. Each has legal pros and cons.
Yet when implemented carefully, these measures may allow employers to significantly reduce wage costs.
If you are thinking of reducing wage costs, we recommend speaking with an employment lawyer to discuss the best approach for your business.
Adam Colquhoun, Principal
This article is general information only. It is not legal advice. If you need legal advice, please contact us.