As we gear up for the new financial year, it's crucial to ensure your HR practices are up to date and aligned with your business goals. A comprehensive HR review now can set you up for a smooth, compliant, and productive year ahead. Just like tidying up your home brings clarity and peace of mind, organising your HR processes ensures your business operates efficiently and legally.

The Ultimate HR Checklist for the New Financial Year

1. Review Employment Contracts

• Update Contracts: Ensure all employment contracts are current and reflect any recent changes in law or company policy.
• New Hires: Double-check that all new employees have signed contracts in place.

2. Evaluate Compensation and Benefits

• Rate Reviews: Verify that salaries and wages meet the latest Award requirements effective from July 2024.
• Bonus Structures: Assess the effectiveness of your KPIs and bonus schemes to ensure they motivate and reward appropriately.

3. Update Job Descriptions

• Role Alignment: Make sure job descriptions accurately reflect the duties performed and align with Award classifications.
• Career Pathways: Highlight potential career development opportunities within each role.

4. Conduct Mandatory Training

• Compliance Training: Schedule and conduct essential training sessions on topics such as sexual harassment, bullying, and workplace safety.
• Professional Development: Plan ongoing training programs to support continuous learning and growth.

5. Enhance Workplace Safety

• Safety Registers: Update your workplace health and safety risk and control registers.
• Psychosocial Risks: Regularly review and manage psychosocial risks in the workplace.

6. Foster a Positive Work Culture

• Business Values: Revisit and reinforce your company’s core values within the team.
• Staff Surveys: Conduct surveys to gauge employee satisfaction and identify areas for improvement.

7. Plan HR Activities

• 12-Month Calendar: Develop a comprehensive calendar outlining all HR activities, including performance reviews, training sessions, and team-building events.
• Performance Reviews: Schedule regular performance reviews to provide feedback and set goals.

The Benefits of a Comprehensive HR Review

Undertaking a thorough HR review not only ensures compliance but also enhances employee satisfaction and productivity. By addressing potential issues proactively, you create a positive work environment where employees feel valued and motivated. This leads to better retention rates and a more engaged workforce.

Take Advantage of Our EOFY Special

To make this process easier, HR Dynamics is offering an End-of-Financial-Year special. Our team of experts can help you navigate the complexities of HR management, ensuring your business is compliant and your employees are well taken care of. From contract reviews to comprehensive training programmes, we’ve got you covered.

Contact Us Today

Don’t wait until issues arise. Be proactive and get your HR practices in order with our EOFY special. Contact HR Dynamics today to learn more about our services and how we can support your business in achieving its HR goals.

1800 877 747

phoebe@hrdynamics.com.au