Free access to PaidRight’s annualised wage roster model for the Hospitality and Restaurant Industry Awards
An area where businesses in the Hospitality industry can optimise their payroll is an annualised wage arrangement. When setting annualised wages, businesses must account for overtime and penalties during peak periods as well as during the slower periods of the year.
We recommend building 3 different roster patterns.
We use the high season roster cycle to cover 8 weeks of the year, and the low season pattern to forecast another 8 weeks of the year and finally, the average cycle pattern to cover the other 36 weeks of the year. Of particular importance for the hospitality industry is ensuring that the high season roster cycle does not breach the outer limits in the hospitality and restaurant award.
The Annualised wage roster model below is a simplified version of a 4 week roster cycle that could be used as the basis for setting the annualised wage arrangements for the hospitality industry discussed above.
In order to optimise annual salaries this forecast can then be used to check against each 4 week roster cycle to make sure that the employee is not being under or overpaid as compared to the forecast. Aligning with this forecast then allows businesses to make roster adjustments in the following roster cycle preventing the need to a larger annual reconciliation payment.