RSM Australia

Why franchisees have to be proactive when it comes to payroll

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Franchisees usually get a lot of help from franchisors when it comes to marketing, branding, and daily operations. One area where some franchisees seem to be left out in the cold is in managing payroll.

This could be partly due to the complexities around payroll; changing and complex requirements can make it difficult for franchisors to keep pace with requirements and communicate them clearly to franchisees.franchisees

It’s therefore important for franchisees to take responsibility for managing payroll proactively. This will reduce the risk of accidental errors that can damage the brand and the business. Even honest errors can turn into branding disasters if not handled correctly and promptly. 

Recent changes to workplace laws are aimed at protecting franchise workers. They were drafted in the wake of recent, high-profile misconduct by different franchises, although they apply to all businesses. These laws also hold franchisors to account if franchisees and subsidiaries don’t meet their obligations around remuneration, pay slips, awards, payment schedules, and more.

As a franchisee, it’s essential to be aware of obligations around payroll to avoid falling foul of the Fair Work Ombudsman, and potentially having to backpay wages and fines.
 


Did-you-know as a Franchisee, you have requirements you need to be aware of?

Click here to Learn more >>


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