Use the Rate Rise tool in your foundU platform, to increase your pay (and charge) rates in bulk in line with the Fair Work Commission's annual wage reviews 2020/21.

The below guide will show you how to increase your pay rates.

For the full list of recently affected Awards- please check this form.

Please note that you won't be able to do the rate rise until Fair Work releases their pay guides (typically this is done on the 1st of July).

To stay informed of developments relating to the review consider subscribing to the annual wage review updates from Fair Work.

A few key points before you start:

  • Rate Rises don’t come into effect until July 1st, 2021
  • The new rates don’t take into effect until the first full pay period of the new financial year. As the pay rates will apply to your next full pay period, you have plenty of time to do the rate rise.
  • For example,
      • Pay frequency: Weekly
      • Pay period: Monday to Sunday
      • Last Pay period for FY 2020/21: June 28-July 4th
      • New rates come into effect: July 5th, 2021
      • Set your rate rise for: July 6th, when your pay has been processed for the previous week (at old rates). 
  • Employees added to your platform, or assigned a position after the creation of a rate rise will not be included in the rate rise. You will need to manually increase their pay rate in their profile.
  Note: Any changes made to employee positions after creating a rate rise, and before processing, may prevent a successful rate increase. We recommend waiting for the rate rise process to complete before making any changes to employees positions.

  Note: You cannot use the rate rise tool to increase your rates until AFTER you have processed your final pay for the previous financial year.


 

The rates rise tool allows you to Set, Check, Schedule and Rest Easy that your rates will increase on the scheduled day.

  • Set- You can schedule your rate rise in advance, provided you have the new rates in the Pay Guide once Fair Work releases them.
  • Check- Complete the 6 steps in the rate rise tool in your platform. Don't forget to the check that each rate matches the new rate (including the exact decimal rounding).
  • Rest Easy- Once the scheduled date takes place, you will see your new rates take effect in your platform.
  • Remind yourself- Opt for an email reminder to process pays on your final process date to ensure your rate rise can go ahead on time.

Missed our end of financial year webinar? See the details here.

Annual wage increase videos

To learn how to manage an Annual Wage Increase, watch the below videos.  More detail is provided in each step in the article below.

  Please note you should watch both videos to ensure that you execute your rate rise effectively.

In this video you'll learn more about:

  • Key Facts about Annual Wage Increases
  • How to set the date for your rate rise in your platform

In this video you'll learn more about:

  • How to access the rate rise tool in your platform.
  • Choosing the date and percent increase for your rate rise.
  • Selecting the Awards to increase.
  • Checking the classifications and editing where needed.
  • How to edit the rates book for your rate rise.
  • Checking the rates for your permanent employees.
  • Checking the rates for your casual employees.
  • Adjusting your Allowances including award, meal, shift and profile allowances.

Using the rate rise tool

Before you start please consider:

  • Ensure that your Award is actually having an increase. The recent phased approach to rate rises since Covid-19 means that not all Awards will have a rate increase on the same date.
  • Print the new Pay Guide for your Award. You will need this for steps 2- 5 of the Rate Rise process. These often don't come out until the day the rate rise comes into affect.
  • Even if your business doesn’t pay to an Award, you’ll still need to ensure that your agreement meets the minimum wage rates.
  • The increase doesn’t affect employees who already get paid more than the corresponding new minimum wage.

To start your new rate rise:

    1. In the quick menu select the hamburger icon to open the Full Menu> Payroll Settings> Rate Rise.
      • Here you will see any existing rate rises in progress and any processed rate rises.
      • You can start a rate rise and return to it later if you run out of time. Don't forget to complete the process before the date you choose as your scheduled date.
    2. Select Create a new rate rise.

    3. A pop-up box will appear
      • Select the effective date of the rate rise as stated by Fair Work.
      • Input the overall rate increase e.g. 2.5%.
      • Choose your pay frequency (weekly, fortnightly or other). If you select weekly or fortnightly the rate rise box will select your final date of pay at the old rates. If you select 'other' you will need to determine this date yourself. If needs to be the last full pay period with the old rates.

      • The blue banner will reveal the 'Final pay at the old rate will occur period ending xxxxx'.
      • Check the box to receive a reminder to process pay on this date. This is a good idea as processing pay one day late will mean your new rates will have already taken affect.
      • Based on the selections made above, your rate rise date will appear in the 2nd blue banner, as 'This rate rise will be processed on xxx'. (See green box below).

 

Complete steps 1- 6 of your rate rise:

You'll now see each step to be completed in the tabs below. These steps detail how you complete each of the 6 steps in your rate rise, ensure to open and read each tab in order:

Awards Classifications Rates book Permanent employees Casual employees Allowances

Select all Awards that you would like to increase rates for, or you can select individual Awards at a time.

You will not be able to conduct 2 rate rises on the same Award at once.
Click continue and the next section will focus on the Awards selected and proceeding to the next step- Classifications. 

Please note that you can go back to any prior step, but if you make a change you will need to select continue which will impact all steps previously completed.

Complete your rate rise:

Once you have completed the last step you can select Finish. To ensure that your rate rise has been completed properly:

  • You'll now see your rate rise sitting at 100% complete and scheduled on your chosen date.
  • Please ensure that it states 6/6 steps complete.
  • Ensure to process your pay on the correct day (you should receive and email reminder if you opted in to when you setup your rate rise).
  • If you go back in and edit your completed rate rise, ensure to complete all of the following steps and press 'Finish' on step 6 so that your changes will take effect.

If you start a rate rise and forget to complete it, an email will be sent to the admin who started but has failed to complete the process. This will take place 3 days before the date that your rate rise is scheduled to take place.

 

Review, edit (or delete) an existing rate rise
  • In the quick menu select the hamburger icon to open the Full Menu> Payroll Settings > Rate Rise. Here you will see any existing rate rises in progress and any processed rate rises.

 

  • You will also see if a rate rise is fully completed or is currently in progress. You can edit both using the edit icon prior to the scheduled date. Please note is you edit a certain step, you will need to ensure all steps after are correct and press finish at the end again.
  • You can also delete any unprocessed rate rises if needed using the delete icon.
If you add a new rate rise, please note that the Awards that were previously selected will not be available for the new rate rise.
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