Understanding Payc cost breakdown.

Payc was built to provide our venue partners with a transparent and cost-effective solution for hiring staff when you need them. For every job/shift posted, for any number of staff, you will receive a detailed cost estimate, including:

• Gross wages (based on award wage set incl. PAYG and tax).
• On costs (incl. Payroll tax, Super and insurances.
•  Service fee: the cost for the end to end Payc service
• GST

How do I know the costs I am paying are based on the right Modern Award?

You can put payroll compliance concerns to rest as Payc has established industry worker rates on the platform to ensure that all legal requirements and compliance standards are met.

In Australia, worker rates are determined by the Modern Awards defined by Fair Work, and the relevant awards and corresponding pay rates are incorporated into the Payc platform. When selecting the role you're requesting, the appropriate award and pay rate are automatically applied.

How do I know I am paying the correct rate?

The source of truth for the Modern Awards must always be:

• Hospitality: https://library.fairwork.gov.au/award/?krn=MA000009
• Restaurant: https://library.fairwork.gov.au/award/?krn=MA000119
• Fast food: https://library.fairwork.gov.au/award/?krn=MA000003

For our calculators we are also using Pay guides and data with pre calculated rates coming from Fair Work directly.

Payc empowers you to adjust your pay rates.

Choose to pay above award rates on our platform whenever you wish to:

• Attract staff with the particular skills you want e.g. experienced labour to increase productivity
• Hire last-minute
• Increase worker motivation, reliability and retention
• Increase your reputation as a fair and values-driven employer

Under the Rate and Cost section choose 'Pay Above Min. Award Wage', simply increase to the desired rate and watch applications roll in!

What are on costs?

These are costs you need to pay for staff whether you hire from payc or not. On costs are added to the worker rates in Australia that cover for WorkCover compensation, insurances such as liability insurance, payroll tax, and superannuation.

What is the service fee?

This contributes to Payc's ongoing support and further improvement, which enhances your overall experience on the platform. A service fee is charged for every job completed on the platform, which is 14% as a default - signficiantly less than products like Sidekicker!

How do you pay?

Payc won't tae your money from your bank automatically. You will need to complete a bank transfer for the estimate funds yourself within 7-days of the shift starting.

Why do I need to pay upfront?

Staff want to be paid fast after every shift. To faciliate the Payc model we have enabled a digital wallet Mastercard so staff can be paid instantly after each timesheet is approved. In order for us to pay staff fast, venue partners are required to transfer the estimate funds upfront. This will ultimately be deliveriing on our staff's number one request and will help you have the most quality staff in your venue at all times.

Why is the cost only an estimate?

The rate is estimated for a 20 year old against the Modern Award you fall under. Obviously we will never be sure how old the staff member(s) will be at the time of the cost estimation, so this rate can change based on the age of the staff who work the shift. Additionally, until the staff member(s) have actually worked the shift, we will not know for sure how many hours they actually complete - it could be more or less than what was included in the the posted shift. We will also need to make sure staff have taken neccessary breaks. So we will only be able to complete the final award interpretation when the timesheet is approved, at which time your final costs can be determined. If the timesheet is approved and your cost estimate matches the final award interpreation, staff will be paid immediatey.

What happens if my cost estimate is more than the final award interpreation cost?

You will have credit in your Payc account and can use this towards your next staff hire. Alternatwoevky you can request a refund back into your designated babk account. If you want an estimate please send an email to [email protected].

What happens if my cost estimate is less than the final award interpreation cost?

As part of Payc Terms of Use, our Venues Partners committment will be required to pay the cost difference within 48 hours in order for the staff to be paid. To avoid this we do allow venues to have a working float of funds to avoid this from occurring.