How to Understand the Pharmacy Award in Australia
By 2020, the Australian pharmaceutical industry will rise to $25.2 billion from $22.85 billion in 2016. According to GlobalData, this growth will be driven by good market access and subsidised cost of prescription medicines, among others. The pharmaceutical market is a knowledge-based, technology-intensive industry that employs tens of thousands of employees across Australia. Like many major industries, the pharmaceutical industry has made improvements across all areas of compliance. According to consultancy firm PwC, employers have also increased focus on human capital. Part of this is managing the pharmacy award in Australia.
What is the Pharmacy Award?
The Pharmacy Industry Award 2010 outlines the award for this industry. It covers all employers and employees throughout Australia who are involved in any pharmacy-related work. Examples of these occupations are pharmacy assistants, students, and interns, pharmacists, and pharmacist managers. Minimum weekly wages can be found below. In 2018, minimum weekly wages were increased by 3.5%, with commensurate increases in hourly rates on the basis of a 38-hour week. The minimum pay rate for a Pharmacist is now $27.19 per hour, up from the previous $26.28 per hour.
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Manually computing pharmacy award rates
Many business owners and managers manually compute pharmacy award rates through the P.A.C.T. Pay and Conditions Tool. Through this website, you can look up the award rates for your employees based on their occupation. You can also use the leave, notice and redundancy, and shift calculators. The more staff you have, the more difficult it gets. Any manager can make mistakes with computing pharmacy award rates. And these mistakes can be costly. For example, inaccurate wages can result in lawsuits, even when they just stem from clerical errors. That’s why many organisations automate the process.
Using a pharmacy award wage calculator
Manually computing the pay of your employees is not efficient. Try our free award wage calculator to see how automation can make this process go faster. This free calculator computes the total number of hours worked and wage for your staff with break times considered. Just fill in the table with your staff’s details such as shift start, shift end, and hourly rate. Add employees as necessary. You will be able to see the total number of staff, hours, and pay for the pay period.
However, this award wage calculator only works for the simplest of cases. Anything more complicated than this requires the complete award rates interpretation software. This engine can automate your wage calculations, whether you’re on one of our built-in award templates or have a custom EBA. You can even integrate it with payroll software Australia for hassle-free payment of employees. You can use this for free for 14 days, no credit card required.
Complete pharmacy award rates interpretation now available
Still on the fence about automating your pharmacy award rates? Our award engine can automate compliant rostering and payroll for any business, including base rates, overtime, allowances, and higher duties. All managed awards have built-in base rates that sync with payroll and update on staff birthdays or when Fair Work mandates change. You won’t even need to keep up with changes in award rates because we do that for you. Take advantage of modern employee management technology and try our award rates engine today.
Want to get your pharmacy award interpretation and award rates right, every time? Use our award wage calculator or start your free 14-day trial now to access all our workforce success features! No credit card required.