The Fair Pay Agreements Act represents a significant change in the industrial relations landscape in New Zealand.
Signed into law on 1 November 2022 and having commenced on 1 December 2022, it serves to enable the improvement of employment terms for employees, by providing a framework for bargaining fair pay agreements that specify specific industry or occupation wide minimum employment terms.
For businesses, it is vital to have a sound understanding of how Fair Pay Agreements will impact them and their payroll processes, so they can act in accordance with the law and ensure best practice.
In this Datacom ebook, ‘Fair Pay Agreements: what are they and what are the impacts,’ you will learn the basics of this new legislation and gain insight into the following aspects of the Fair Pay Agreements Act that are important for businesses to consider, including:
- The mandatory components that Fair Pay Agreements must contain
- How fair pay agreements are created, including the stages they must go through before they become law
- The expected timelines of bargaining, including the process of vetting applications, formulation of bargaining sides, verification, and ratification
- The impacts of FPA for employers and payroll systems
- The penalties for not complying with the mechanisms of the formation and maintenance of the FPA process
As Fair Pay Agreements are adopted by businesses across New Zealand, Datacom will continue to monitor them and advocate for close involvement with MBIE to help streamline the impact these have on payroll systems in order to improve compliance and adoption.
By understanding and adhering to the Fair Pay Agreement Act, organisations can expect to have confidence in their payroll related decisions. The information in this ebook will provide you with the knowledge of how Fair Pay Agreements will impact your business and its payroll processes, so that you are able to successfully adapt to this new legislation. By accessing the insights in ‘Fair Pay Agreements: what are they and what are the impacts,’ organisations will be better equipped to ensure successful payroll management.
