Discover the meaning of the latest AU payroll and HR terms and abbreviations with this free glossary.
SaaS Software as a service, or SaaS, is the term for a business model where software is centrally hosted via the cloud and then licensed by subscription to companies. It is also known as ‘on-demand software’. Companies need an internet connection and web browser to access.
Self-service Self-service, also known as employee self-service (ESS) is when a company’s staff can use its intranet or web portal to access, update, and edit HR information or software. Examples include downloading payslips or updating address details.
Shadow payroll Shadow payroll is a process used to report compensation data that is paid from the country of origin, also known as the home country. If an employee is on assignment in another country, their wages should be reported in both locations.
Single Touch Payroll (STP) A new way of reporting tax and superannuation information to us. Using STP-enabled software you'll send your employees' salary and wage, tax withheld and super information to us each time you pay your employees.
Skills development Skills development is the process of identifying employee skills gaps, and then implementing a training plan to develop those skills.
Small business payroll Small business payroll is payroll targeted to help small businesses run an efficient payroll and meet their tax or filing obligations. Small business owners may not have the big budgets, time or inhouse expertise to focus on payroll, which is why outsourcing payroll to a specialist provider can help.
Software for payroll Software for payroll is an application that manages, automates and organises staff payments. The software, usually cloud-based, will track all payments and keep accurate records, while automatic updates ensure that the company fulfils its compliance obligations.
Staff planning Staff planning is the process of making sure you have the right people in your organisation to carry out the work needed for business success. To plan effectively, first assess what the business needs, and the skills and potential of your current employees, while considering what each employee’s needs will be as the company grows and your sector evolves.
Strategic staffing Strategic staffing means ensuring a business has the workforce it needs to deliver its current and future objectives. This involves identifying gaps and working to fix them, so there are enough appropriately skilled staff available at the right times to meet business and market demands. Strategic staffing could involve using recruiters or retraining and upskilling staff.
Strategy Strategy is the term for a plan of action designed to achieve one or more long-term goals.
Succession planning Succession planning is the process of identifying talent within the business to fill future leadership or other positions. Given a competitive jobs market and skills shortages, succession planning has become increasingly popular in large and small organisations.
Superannuation A regular payment made by an employer into a fund owned by an employee toward a future pension.
Super Guarantee (SG) Superannuation is money you pay eligible workers to provide for their retirement. Super guarantee (SG) is the minimum amount you must pay to avoid the super guarantee charge.
System Integration System integration is the process of unifying or creating a complex information system through an architecture by integrating existing systems or software with new or other systems or software. This typically includes integrations with external vendor systems, solutions or software.