Employment Hero vs KeyPay: What's Changed in 2026?
Short answer: they're the same company. KeyPay was acquired by Employment Hero in 2022 and is now called Employment Hero Payroll. The payroll engine hasn't changed — the Award automation, the STP processing, the integrations are all the same product. The real question is whether you need just the payroll engine, or the full Employment Hero platform with HR, onboarding, and compliance tools on top.
Employment Hero Payroll vs Platform — At a Glance
What Actually Happened: The KeyPay to Employment Hero Story
KeyPay launched in 2012 as a purpose-built Australian payroll platform. Its core differentiator was Modern Award interpretation — at a time when every other payroll product made you configure Award rules manually, KeyPay had them pre-loaded and automatically applied. For trade businesses dealing with Building and Construction Award complexities, Electrical Award allowances, and Plumbing Award conditions, this was a significant operational advantage.
In 2022, Employment Hero — an Australian HR software company that had been building its own HR + payroll stack — acquired KeyPay. The stated rationale was to combine Employment Hero's HR depth with KeyPay's payroll engine. The integration was gradual, and through 2023 and into 2024, KeyPay continued to operate under its own branding. By 2025, the full rebrand to "Employment Hero Payroll" was complete.
The important thing to understand: the underlying payroll technology didn't change. The Award interpretation engine is the same one KeyPay users have been using for years. What changed is the branding, the login portal, and the organisational structure it sits within. Existing KeyPay users found themselves on Employment Hero Payroll — same features, same data, different logo.
Employment Hero now offers the product in two forms: Employment Hero Payroll (the payroll engine, similar to what KeyPay was) and the full Employment Hero platform (HR + payroll combined). The pricing difference is modest; the capability difference is significant.
Employment Hero Payroll (was KeyPay)
Employment Hero Payroll is what you'd choose if you want the Award interpretation engine without the full HR platform overhead. It's the direct successor to KeyPay — same payroll processing, same STP Phase 2 compliance, same pre-loaded Modern Awards, same integrations with Xero, MYOB, and job management platforms.
For a building contractor who manages HR informally and just needs payroll to run correctly and compliantly, this is the right product. You're paying for the payroll engine, and it's an excellent one. The Building and Construction General On-site Award, Electrical Award, and Plumbing and Fire Sprinklers Award are all pre-loaded with full classification hierarchies, allowances, and penalty rate rules.
At approximately $6 per employee per month, a business with 5 employees is paying $30/month for payroll that handles Award compliance automatically. Given that a single Fair Work underpayment audit can cost tens of thousands of dollars, the ROI here isn't complicated.
Who it's for
- Existing KeyPay users (you're already on this)
- Trade businesses with Award-intensive payroll
- Businesses that manage HR outside a dedicated platform
- Companies already using Xero or MYOB for accounting
Limitations
- No HR document management
- No digital onboarding workflows
- No training or performance features
- No employee benefits platform
Employment Hero Platform — Full HR + Payroll
The full Employment Hero platform takes the same payroll engine and adds a comprehensive HR layer on top. This is the product that makes sense for trade businesses that are genuinely growing — adding headcount, dealing with onboarding complexity, needing to manage HR documents properly, and wanting compliance alerts when employment law changes.
What the platform adds beyond payroll: digital employee onboarding (offer letters, tax file number declarations, superannuation choice forms — all digital, all filed automatically), HR document management, learning and development modules, a benefits and perks platform, performance reviews, and compliance alerts for things like Award rate changes and legislative updates. For a business that's hired 10 people in the last two years and still has employment contracts sitting in a drawer, this is material.
The pricing difference from the payroll-only product is approximately $2 per employee per month — a 5-person team pays about $10/month more for the full HR platform. For most trade businesses with employees, this is money well spent.
What you get beyond payroll
- Digital onboarding workflows (TFN, super, contracts)
- HR document management and e-signatures
- Learning & development modules
- Employee benefits and perks platform
- Performance review tools
- Compliance alerts for legislative changes
When to skip it
- Sole traders with no employees
- Very small teams with simple payroll needs
- Businesses already using a dedicated HRIS
Employment Hero Payroll vs Platform — Head-to-Head
| Feature | EH Payroll (was KeyPay) | EH Platform (Full HR) |
|---|---|---|
| Modern Award automation | ✓ | ✓ |
| STP Phase 2 compliance | ✓ | ✓ |
| Superannuation processing | ✓ | ✓ |
| Xero / MYOB integration | ✓ | ✓ |
| Leave management | ✓ | ✓ |
| Digital employee onboarding | ✗ | ✓ |
| HR document management | ✗ | ✓ |
| Learning & development | ✗ | ✓ |
| Employee benefits platform | ✗ | ✓ |
| Performance reviews | ✗ | ✓ |
| Compliance alerts | ~ | ✓ |
| Approximate price | ~$6/employee/mo | ~$8/employee/mo |
Prices approximate. Check employmenthero.com for current pricing. Both products use the same underlying Award interpretation engine.
Which One Do You Actually Need?
Here's how to decide:
Use Employment Hero Payroll (was KeyPay) if:
- You were already a KeyPay user — you're already on this product
- You want best-in-class Award automation without full HR overhead
- You manage HR informally or through a bookkeeper
- You have a small team (1–5 employees) and straightforward HR needs
- You want to minimise software subscription costs
Use the full Employment Hero Platform if:
- You're hiring regularly and onboarding is a time drain
- Employment contracts and HR documents are scattered or paper-based
- You want compliance alerts when Award rates or legislation changes
- You have 5+ employees and HR is becoming a real function
- You want to offer employees a proper onboarding experience
Use neither if:
- You're a sole trader with no employees — use Payroller's free tier for STP
- You're on Xero and payroll is straightforward — Xero Payroll is included in your subscription
Still using the old KeyPay login?
KeyPay's login now routes through Employment Hero. If you're a current KeyPay user, your account is still there — you're just on Employment Hero Payroll now. Worth checking whether the full platform makes sense for your business at the current pricing.
View Employment Hero Plans →Frequently Asked Questions
Yes. Employment Hero acquired KeyPay in 2022 and has rebranded it as Employment Hero Payroll. The payroll engine is the same — the same Award interpretation, the same STP processing, the same integrations. The distinction now is between Employment Hero Payroll (payroll-only product) and the full Employment Hero platform (HR + payroll).
KeyPay's login redirects through Employment Hero. Your account data is preserved — nothing has been lost or migrated. Existing KeyPay users are now on Employment Hero Payroll, and the user interface has been updated to reflect Employment Hero's branding. The underlying payroll functionality is unchanged. If you're having trouble with the login, Employment Hero's support team can assist.
Employment Hero Payroll (the payroll-only product) is approximately $6/employee/month. The full Employment Hero platform with HR features starts at approximately $8/employee/month. Pricing is available on their website and includes discounts for annual billing. For a building contractor with 5 employees, expect to pay approximately $30–$40/month for payroll, or $40–$55/month for the full HR platform. Check employmenthero.com for current pricing as it changes periodically.
For Award-intensive trades (building, electrical, plumbing), yes — even with 1–2 employees. The Award interpretation engine prevents underpayment errors that can result in Fair Work claims. A single underpayment audit can cost far more than years of Employment Hero subscriptions. For sole traders with no employees, no — use Payroller's free tier for STP and save the subscription cost. The full HR platform makes more sense once you're regularly hiring and onboarding becomes a genuine time drain.