Better Financial Outcomes For Everyone
Salary packaging is when you and your employer ‘package’ your salary into income and benefits. It’s also known as salary sacrifice.
Salary packaging is when you arrange to receive less income after tax, in return for your employer paying for benefits out of your pre-tax salary, increasing your take home pay. It’s that simple.
Salary Packaging is a great perk that is available to all employees and is fully approved by the Australian Taxation Office.
Employers: What Outcome Would You like To Achieve with Salary Packaging?
Increase the value proposition of your remuneration offering?
Attract & Retain the right People?
Position your business as an Employer of Choice?
Generate better Employee Experiences, Loyalty & Engagement?
Protect your 'Employer Reputation'?
Boosts Productivity, increasing your bottom line?
Employers: Did You Know...
Happy employees drive your business forward
That means, while money is just one factor, salaries and bonuses are directly linked to your company’s success which means employees’salaries and benefits are vital business decisions.
Firms that consistently attract & retain motivated committed staff, THRIVE!
Extra perks contribute to higher staff retention, better productivity & higher level of output
This is because when money is less of a concern, workers can more fully focus on their projects. They have fewer worries about staying financially afloat, which makes them more present in the office, leading to higher levels of productivity and better quality of work.
Giving employees additional financial benefits supports their financial security and encourages them to deliver above average work and effort
Financial benefits help underpin your company’s success & your employee’s happiness and motivation!
In fact, according to the HR Institute has found, “the lure of better pay elsewhere is reported as the second strongest factor in why employees say they leave” Moreover, financial rewards help sustain your employees’ lifestyles – and are a major determinant where someone chooses to work.
Offering extra financial rewards attract highly skilled people
Do you know what the cost of staff retention to your business is?
Recruiting and training a new employee requires staff time and money. Many studies show that the total cost of losing an employee can range from tens of thousands of dollars to 1.5 – 2X annual salary.
Frequent turnover has a negative impact on employee morale, productivity, and company revenue.