9th November, 2015
There’s no two ways about it – New Zealand has one of the most complex payroll systems in the world. Between complicated leave calculations, staff benefits and Kiwisaver – as well making sure government reports are squeaky clean – it’s no wonder staying on top of payroll causes stress.
Employers have told us that four out of 10 pain points for them are around staffing and payroll. They regularly worry about problems with leave coding, performance management, recruitment, and compliance obligations.
Over the years there have been numerous tax and annual compliance changes. Employer requirements are tough – there are strict record-keeping obligations, regular inspections to remember, and penalties for not keeping up. Most NZ employers pay their staff weekly which means if anything goes wrong there’s only a short window to fix the problem.
Going mobile is also challenge, because it’s a pain capturing and processing manual staff data while you’re on the move. So whatever systems businesses use need to be up to the task.
No matter what your business or its size, MYOB has a payroll solution to help make your job easier.
MYOB has been working hard to make sure New Zealand businesses can stay on top of their payroll obligations with a solution to suit their needs. At one end of the spectrum MYOB Essentials helps smaller- to medium-sized businesses to run payroll in three easy steps. At the other end, MYOB PayGlobal is a powerful payroll engine that can take care of complex calculations for larger-sized businesses. In between, there’s a range of solutions for every type of business.
MYOB also has its eye on the future. We continue to look for and invest in innovative payroll technologies to stay ahead of the curve – and keep business payroll in NZ on track. Watch this space – there’s a range of next-gen payroll solutions coming soon.
Top reasons why New Zealand payroll is complex
> New Zealand businesses employ over 2.4 million employees across around 150,000 employers
> New Zealand has the 10th most complex payroll system in the world. Its ranked 5th for complexity in government reporting
> MBIE’s proposed Employee Standards Bill includes tougher sanctions and clearer record keeping requirements for employers
> As government agencies move towards enabling digital services, businesses with manual processes need to consider how they transition to online
> Employers say leave coding, performance, recruitment/onboarding and compliance issues make up 4 out of the top 10 pain points of running a business
> New Zealand’s legacy of independent accounting and payroll software has led to double handling of data, higher risk of human error and poor visibility of profits.
Don’t break a sweat – stay on top of your payroll obligations by viewing our full range of New Zealand MYOB Payroll products here.