Question: I want to expand my business by hiring employees – is this a good idea?
Answer:Yes! One way to expand your business is to hire employees to work for you. This is a considerable commitment. Hiring employees requires an employment agreement, which is a contract that sets out the terms and conditions of employment, entitlements and position description, and must meet the National Employment Standards. You need to decide whether you’re hiring someone on a part-time, full-time or casual basis. One of the benefits of hiring an employee is that it is a well-established relationship supported by national and local legislation including the Fair Work Act 2009 (Cth). Issues to consider are that you must pay employees a regular salary and meet legal obligations in respect of employees’ tax, super and other obligations. You must check that your employees’ salary is at least the amount specified by the Fair Work Award that applies to their role, or at least the minimum wage if there is no specified role.
