Find out how to identify, recruit and appropriately reward and incentivise local talent to get your team up and running in Australia.
Businesses seeking to build a team in Australia need to consider a range of HR factors. Understanding the Compensation and Benefit framework in Australia is a starting point; inward investors looking to source excellent talent – whether locally or ex-patriated from abroad – need to understand the intricacies of Migration & Visas (e.g. “457/TSS” & the Significant Investor range), Superannuation (i.e. “Pension” / “401Ks” / “RRSPs”) and how to access the “hidden” local talent pool (those not necessarily actively seeking new employment). In addition, an offshore business establishing a local subsidiary will need to understand the cultural and legal differences surrounding employment between their base country & Australia (e.g. the Awards system for industry-specific minimum wages, Fringe Benefits Tax [FBT], Medicare Levy Surcharges and Health Insurance to name but four!).
Finally, the treatment of Employee Share Options in Australia is not only significantly different from the baseline taxation methodologies employed in other countries, but the failure to ensure that your LTI non-salary employee incentives fit the (constantly changing 🙁 !) Australian financial and taxation framework can have devastating effects downstream for your team.
IMPLEMENTATION ADVICE & QUOTE
Use the following as a startup checklist or and/or to request additional information.