COMMENT
Judging by the results of various business confidence surveys conducted over the past few months; by the continuing high level of the NZ dollar against other currencies and the uncertainty by the business community over the government’s management of its fiscal policy, we should be expecting a more difficult year during 2006.
Many employers are already experiencing difficult cash flow situations and are continuing to experience difficulty in attracting both skilled and unskilled quality staff.
Ensuring you have only the best employees however is only one step in the process to building a quality workforce. The ongoing management, development, training, performance management and retention of quality staff is vitally important for any organisation to not only survive but to develop, grow and prosper.
MINIMUM WAGE ACT ADJUSTMENT
From 27 March 2006 new statutory minimum wage rates will apply to all employees aged 16 and 17 years.
The minimum wage for youths increases to $8.20 per hour ($65.60 for an 8 hour day, or $328.00 for a 40 hour week).
The minimum wage for adults increases to $10.25 per hour ($82.00 for an 8 hour day, or $410.00.00 for a 40 hour week). This adult rate applies to those aged 18 and over.
Employees must be paid no less than the statutory minimum wage for their age whether they are full time, part time or casual employee, a home worker, or paid wholly or partly by commission, or on a piece rate.
The hourly rate also applies for each hour worked in excess of 8 per day or in excess of 40 per week.
The minimum wage does not apply to those who hold under-rate permits and persons undergoing specific training in some occupations.
