Technology powering salary packaging in the Not-for-Profit sector
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In the not-for-profit sector, salary packaging is an important tool to allow the sector to compete with the generally higher wages from the private sector and to retain personnel.
However, as the end of the financial year for the NFP sector concludes, many employees will want to make sure they maximise their available benefits for the new reporting year.
In an industry where workers are often stressed and overworked, many people forget to claim their salary packaging benefits or simply aren’t aware of the benefits available to them.
Without employees maximising this industry advantage that is specific to the sector, this can pose a potential talent drain for employers, as staff look elsewhere for higher wages.
In a sector renowned for its ‘set and forget’ approach, game-changing provider GO Salary is disrupting the market with a highly responsive, tech-enabled platform that ensures clients are taking full advantage of their salary packaging benefits. Modelled on online banking, clients enjoy full access to their salary package 24/7.
With many employees missing out on legal entitlements every year, GO Salary is a powerful platform that employers can leverage to help ensure their staff know that packaging is available to them and to make full use of their benefits, keeping staff happy and employed.
Ben Markovic from GO Salary discovered that people were not claiming their full threshold unless prompted by engagement from their packaging team.
GO Salary’s most recent communication to clients who had unclaimed benefits, triggered a response rate of 88% making it clear that people value the opportunity to redeem these benefits.
GO Salary has a unique tech-enabled offering that sends reminders and offers support to clients to ensure they are maximising every aspect of their salary packaging. It supports them and employers to make sure every lever is pulled to get the best out of their remuneration and associated tax benefits.
Whilst individuals might spend all their entitled amount in one area, there could be other less obvious areas that they are not claiming – this is where the technology from the GO Salary platform is a game changer for maximising benefits.
The system is highly responsive, looking at what individuals are claiming and, where there are gaps, and encouraging them to lodge claims.
GO Salary clients get the benefit of a service team which has been working in salary packaging for over 25 years who understands the expectations of employers and their employees. GO Salary is trusted to deliver their care-based service to thousands of employees across Australia every day from small employers (5 staff) to large employers (more than 5,000 staff).
A human business, GO Salary leverages state-of-the-art technology, to ensure its members are aware of their benefits, making it easy for members to claim and maximise the benefits of their package.
To learn more about how GO Salary can help your nonprofit maximise salary packaging, take their health check at gosalary.com.au/healthcheck/.
Ben Markovic has specialised in providing salary packaging service solutions to FBT exempt not-for-profit employers for over 15 years. He co-founded GO Salary with Tony Vitacca to create a unique platform which uses technology to optimise salary packaging programs, whilst also supporting their case-based approach to service.
