As a leading provider of automated workforce compliance solutions, we at Yellow Canary are always seeking to improve our clients’ understanding of their wage compliance status.
Our existing suite of compliance tools is designed to help Australian employers manage and monitor payroll compliance across modern awards, enterprise agreements (EA), long service leave and other employee entitlements. This is achieved in a scalable, automated manner with every pay run.
We have introduced a new Executive Dashboard to complement our Modern Award & EA Compliance product. The Executive Dashboard answers “The Three Big Questions” of wage compliance to further support our clients in their proactive compliance needs.
What is Yellow Canary’s Modern Award & EA compliance solution?
We know how important it is for employers to pay their employees accurately and on time for their entitlements.
Our Modern Award & EA Compliance solution automates both historical and ongoing payroll reviews, facilitating compliance with modern awards, EAs, and individual flexibility arrangements. By providing visibility into payroll variances and their underlying causes, employers can make informed decisions and ensure employees are paid accurately, according to their industrial instruments.
Our solution answers “The Three Big Questions.”
What are “The Three Big Questions”?
From delivering over 100 wage reviews over more than $70 billion of wage and other entitlement spend for some of Australia’s largest employers, we know that the users of our platform and their stakeholders want to know the answers to what we call “The Three Big Questions”.
How does Yellow Canary’s Executive Dashboard answer “The Three Big Questions”?
Although our platform has always assisted our clients in addressing these questions, our new Executive Dashboard simplifies this assessment, enabling users to instantly view the answers to the "Three Big Questions" at a high-level glance.
The Executive Dashboard is the tool you need when you are unexpectedly called to the Board, the CEO's office, or your boss's desk, and they want immediate insights into what is happening and why.
Our Executive Dashboard provides a single page overview of your pay review’s results, giving you knowledge, insights, and information in one place.
It pulls insights from across the platform, enabling a high-level overview while also providing the opportunity delve into more detailed results.
Let us break down the Executive Dashboard into its key parts.
How much should have been paid in total?
With our ‘Calculated Pay’ tile, you can determine the total that should have been paid to employees according to the pay rules set.
How much has been paid in total?
With the ‘Payslip Pay’ tile, you can identify the total amount paid to your employees during the review period. If this amount differs from your 'Calculated Pay' tile, there is a pay variance that needs to be addressed.
How much overpayment and underpayment are there in total? How does this amount compare?
With the Executive Dashboard, you can easily identify the total amount of overpayments and underpayments and compare results in different variables.
Here is what can be identified further:
- Median underpayment and overpayment
- The total amount that has been overpaid and/or underpaid to employees when comparing ‘Calculated Pay’ to ‘Payslip Pay.”
- The percentage of your workforce that has been underpaid and/or overpaid.
- Underpayment amount by:
- Financial Year
- Casual, Part-time, or Full-time work
- Industrial Instrument and Classification
What does the variance distribution look like?
View each employee's payment information simultaneously and hover over the dots to find out more detail. This assists employers to understand trends, identify outliers in the data set and delve deeper into individual employee information.
What are the top causes of underpayment?
Visualise the top 5 pay rules triggering underpayments. This enables a quick assessment of what may need to change to reduce underpayment issues in the future.
Committed to continuous innovation
At Yellow Canary we are always evolving, constantly striving to better assist Australian employers in paying their employees correctly.
With recent product updates addressing critical compliance areas like long service leave, and ongoing enhancements to our existing offerings, we are committed to enhancing the user experience and resolving compliance challenges in a dynamic industrial relations environment.
If you would like to learn more about our new Executive Dashboard feature or our other compliance solutions, please do not hesitate to get in touch.
