Compliance: Why “Set and Forget” Can Cost Your Business
When you’re running a business, it’s easy to think compliance is something you can tick off once and forget. You updated your employment agreements, paid your ACC levies, and set up payroll correctly, so you’re covered, right? Unfortunately, the reality is a bit different.
Laws change, business operations evolve, and what was compliant last year might not be today. Overlooking compliance can result in fines, back payments and lasting reputational damage.
Employment compliance: Staying ahead of the rules
Employment compliance is one of the most common areas where small and medium businesses stumble. From annual minimum wage increases to complex rules around holiday pay, a one-time update won’t keep you protected. Even small mistakes like misclassifying a contractor as an employee can lead to costly penalties.
It’s important to regularly review employment agreements and staff classifications. Doing this at least once a year helps ensure your team is treated fairly and your business remains compliant.
ACC levies: More than just a bill
ACC levies aren’t just a yearly expense; they’re an ongoing obligation tied to how your business operates. If your classification doesn’t match reality, you could be paying too much or too little, putting you at risk if audited or injured.
Before paying your next invoice, can you answer?
Why you have to pay ACC levies?
Could my business reduce levy costs with the right classification?
What weekly compensation would I be entitled to if I couldn’t work due to an accident?
If you’re unsure about any of these, you’re not alone. Many business owners simply pay the bill without questioning it, because in reality, ‘you don’t know what you don’t know’. That’s where a review from specialists like ACC Made Easy Ltd can make all the difference. With more than 20 years’ experience, Miranda and her team help businesses understand the “why” behind ACC, ensure you’re paying the right amount, and identify opportunities to reduce costs.
Payroll processes: Don’t let systems let you down
Even with the right knowledge, poor payroll processes can undo your compliance efforts. Outdated software, manual calculations, or missed legislative updates can easily result in underpayments, errors in tax filings, or incorrect reporting. These aren’t just admin hiccups; they can expose your business to penalties and damage employee trust. Regularly reviewing your payroll system ensures that the rules you’ve worked hard to follow are actually applied correctly in practice.
The bottom line
Compliance isn’t a one-time task it’s an ongoing part of running a healthy, sustainable business. Regular reviews don’t have to be time-consuming, and a fresh set of expert eyes can often pick up issues before they turn into expensive problems.
Need help reviewing your compliance? Contact us for a no-obligation chat and we’ll make sure you’re on track and help you stay there.