Need advice about Remuneration packages? Stacks are here to help advise you on all of your legal obligations when it comes to remunerating your employees in the form of commissions, bonuses or other packages.
Sometimes, in addition to a negotiated salary, an employer may offer extra things to an employee to make the overall package more attractive or to reward them for particular achievements in their work.
Working out a good remuneration package may help your business to attract and hold onto the most valuable employees. It may also serve to encourage employees to work their hardest in order to benefit from additional commissions or bonuses. Ideally, the remuneration package would suit your business’ unique situation and the particular skills and experience of the employee.
It is important to note that the additional benefits cannot take the place of a salary. You will still need to meet the minimum conditions prescribed by the law such as the minimum wage for an award or enterprise agreement. Details of additional benefits will generally need to be included in the Employment Contract.
A Stacks Employment law specialist can advise you about remuneration packages and your legal obligations. We can also assist you to resolve any disputes that arise in relation to Remuneration issues.
Additional benefits that may form part of a remuneration package
- Use of a company car
- Travel allowances (eg. First class air travel for business trips)
- Cash bonuses
- Relocation allowances
- Utility allowances
- Children’s education costs
- Share options
Need advice about Remuneration packages? Call us today