Effective from May 2022

Approved by: Chief Executive Officer

At a Glance

It is understood that an employee’s salary should be reviewed on an annual basis to ensure that Five Good Friends is competitive within the industry and current market practices.

It is important to recognise that a salary review is not automatic and is at the discretion of Five Good Friends. In some cases, no salary review will be granted if the position is deemed to be at or above market averages or the economic environment does not permit such an increase.

The salary review is an opportunity to assess the salary and determine if any increase is necessary and if so the appropriate amount.

This policy outlines the steps in the salary review process.

Scope

All salaried (non-award) employees within Five Good Friends and related associations. It is the responsibility of all Senior Executives, People & Culture, and Senior Managers to maintain this policy.

Objective

The purpose of this policy is to support Five Good Friends to pay all employees a salary that is competitive in the market place and appropriate to job level and performance.

Definitions

• Salary Reviews **are to occur in August of each year for all Salaried (non-Award) employees with an effective date of 1 September of the same year.
• Award Employees – will normally have their salary/wage adjusted by Fair Work Australia’s movement in the Minimum Wage.

Policy Statements

• Salary reviews are not to be requested or approved unless a Performance Review is completed.
• In special circumstances, a salary adjustment can be approved if the adjustment was included in a new contract of employment or a change in position requires a salary adjustment.