Checklist - How to enter into a guarantee of annual earnings
Modern awards have wide coverage for industry-based awards. However, for "high income" employees (i.e. an employee who is covered by an award, but earns more than the 'high income threshold'), the employer, and the employee can enter into an agreement which is known as a 'Guarantee of Annual Earnings' to help avoid the use of awards. There are a myriad of factors to consider when entering into this agreement, complete this checklist to accurately determine whether this is an option for you and your employee.
Understanding your obligations as an employer is important. If you are experiencing difficulty with managing staff, please call CCIQ Employer Assistance team (members), or join with a CCIQ membership https://www.cciq.com.au/membership/.