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In the technology, engineering, and pharmaceutical fields, the task of recruiting specialists such as senior developers and data scientists can be particularly challenging as they’re heavily in demand. Sure, everyone wants a solid paycheck, but if you lead with salary, you could fail to convince candidates that the job is for them.
And sometimes a high salary cannot fix their decision to leave the company. On average, it costs them 50%-60% of an employee’s annual salary to replace this employee. I once worked at an organization, and my department worked on connecting pharmaceutical companies with government officials. You Spread Them Thin.
Starting in March 2020 there will be some new changes to the way that annual salary arrangements are structured in Australia across a variety of industries. It is important to note that this new legislation has created clear limitations surrounding overtime hours.
At its simplest, an HRIS tracks names, addresses, job titles, and salaries, but dont be fooled by its rolodex-like modesty. Overtime disputes? HR professionals dont need to worry about tax compliance or overtime disputes either. Every detailbirthdays, NI numbers, emergency contactslives in a secure, searchable, digital hub.
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