Are you checking payroll best practices off your list?
Payroll is essential to financial wellness and central to the relationship between employees and their employers. Compared to other common benefits of employment, more Canadian workers say payroll (not how much they are paid) is essential and a benefit they would not work without.
Whether employees are Gen Z or Baby Boomers, our research clearly shows that consistent and accurate pay is an essential benefit for everyone, over and above benefits like health and dental coverage or fun office work perks. In fact, 87 per cent of Canadian workers say that when payroll is mismanaged, they lose trust in their employer or feel less valued by them.
Attracting and retaining talent in a competitive global market is critical to the successful operation of any business. And it’s not as simple as ‘paying people.’ Professional payroll requires a focus on a number of important principles including accuracy, timeliness, compliance, transparency and professionalism, to name a few.
That’s why the Canadian Payroll Association has developed this free Essential Payroll Checklist. This easy-to-use resource will help business leaders and employers take the necessary steps to ensure all aspects of their payroll function are optimized and ready to both protect and enhance the employee experience.