Perhaps this is your first time ever in the Road Freight Industry facing the December payouts season. Or maybe you have done it a million times before.
The fact of the matter is, if it goes badly – everyone suffers. So you want to make sure it all goes well every time.
At Mediant Solutions, we have done this for over 30 years now, and although the NBCRFLI has greatly improved their systems over the years – they have mainly done so by placing much of the responsibility into your hands.
The NBCRFLI has three main benefit funds namely the Sick Pay Fund, the Leave Pay Fund and the Holiday Bonus Fund. Every month, employers contribute towards these funds on behalf of their employees (have a look at this youtube video for a quick explanation of all the funds payable each month) and during December, the Bargaining Council pays out the year’s contributions to each individual employee. The year is calculated from November to October (12 months) and if all twelve contributions were made, it is just about equal to a 13th cheque.
So here are three pointers for ensuring a smooth payout:
Ensure all your employees are on the online system
You have to check that your headcounts are the same. If there are 120 employees on your payroll and only 110 of them get a bonus payout from the NBCRFLI – you will need to know why.
This is often something that payroll staff take for granted, but we recommend checking your headcount to make sure everyone is on your payout application.
Ensure everyone’s banking details are correct
Your foreign employees will have their paycards (hopefully) which makes this part of the checking process much simpler, but for the rest of your employees, there is nothing worse than having your employees complain that they haven’t received their money, only to discover that it was paid into the wrong bank account.
We often advise our clients to request that employees refrain from changing their banking details from August each year, as this leads to many queries in December (which can be avoided).
Ensure that you know what to expect
Being prepared for the December payouts means that you know what to expect. Employees who started late in the year need to be reminded that their bonus payout will only consist of a portion of the year (unless they have “old money” from a previous employer that will be paid out as well.) The best way to do this is by checking the employees’ records at the Council. It is a semi-tedious job, but you will be happy to have done it in the end.
If you need assistance with your year-end payouts – give us a call.
We are not the NBCRFLI, but we are a payroll bureau and most of our clients function within the Road Freight Industry.