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Preparing for the Minimum Wage Increase on 1 April 2024
Manage episode 403611868 series 3522910
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Prepare for imminent shifts in minimum wage. With changes to kick in on 1 April 2024, the adult minimum wage will see a modest 2% increase. This offers a welcome change to employers reeling from a staggering 48% increase over the past eight years.
In typical discussions about minimum wage changes, crucial aspects often go unnoticed. This episode delves into the new minimum wage rates, unraveling the adjustments for adult, starting out, and training wages. Amid the buzz of heightened pay, Sanam, the host, directs attention to the frequently overlooked dimensions of managing these changes, particularly in terms of employee communication and payroll system updates.
In this episode, we confront unspoken hurdles encountered by employers, tackling questions like whether all employees should receive a pay increase and how to navigate requests for pay rises from existing staff. The episode navigates the intricate landscape of relative pay scales, offering indispensable insights for employers grappling with these multifaceted challenges.
Tune in for an exploration of the upcoming minimum wage changes, as Sanam skilfully highlights both the anticipated and often underestimated facets of this topic.
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Resources:
Check out the Law Lenz episode on employing young people in NZ to understand when the starting out and training wage applies to your employees.
MBIE - Minimum Wage Rising to $23.15 per hour from 1 April 2024
- Law Lenz Episode - Employing Young People in New Zealand
Disclaimer: The content presented in this episode is for informational purposes only and should not be considered as legal advice. The host does not assume any liability for actions taken based on the content of this podcast. While the host is a lawyer, they are not your lawyer and the information provided is based on general legal information. This podcast does not create a solicitor-client relationship.While we strive to keep the information accurate and up-to-date as at the date of each episode, laws and regulations may change, and the content of this podcast may not reflect the most current legal standards or interpretations. Listeners are encouraged to consult with a qualified New Zealand legal professional for advice tailored to their specific situation.
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