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Employer health benefits costs will increase 7.5% in 2023 due to aging workforce, inflation; what can employers do? — survey report
According to a new report by Aon[1], the cost of employer-sponsored medical benefits in Canada is projected to increase by 7.5% in 2023. The report evaluated responses from more than one hundred Aon offices worldwide that broker, administer, or provide advice on employer-sponsored medical plans. Cardio and hypertension health issues …
Payroll Management and Recruiting: A survey indicates the top challenges for business in 2023 include “recruiting” and “pay increases”
A survey by consulting firm Peninsula shows that Canadian employers are currently facing a lot of staffing challenges, with 54% saying that recruitment is the most serious. Pay increase requests follow at 46%, and employee retention comes in at third place (37%). [1] Recruiting and the demand for pay increases …
5 Signs Your Organization Needs to Partner with a PEO (Professional Employer Organization)
Partner with a Professional Employer Organization (PEO): A Professional Employer Organization (PEO) provides comprehensive HR services through partnerships with small to medium-sized businesses. The relationship is defined as “co-employment,” which means that organizations retain full control over their operations and employee functions, with only HR-related employer responsibilities outsourced to the …
Increasing starting salaries in a challenging labour market
The pandemic has exposed and aggravated the challenges that were already brewing in the labour market at an accelerated pace. The last couple of years of uncertainty, changing regulations, and fears have made many employees reevaluate their priorities. At the same time, the millennial workforce, in particular, is now more …
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How Can Outsourced Payroll Management Help You to Retain Trust with Your Valued Employees?
Payroll is a fundamental element of any business, and while it may seem like a simple (ok, not that simple) mechanical or mathematical action, it plays a role in company culture. When employees feel like they have to double-check their paystubs and verify all of their income and taxes – …
7 ways Payroll Management changed post-pandemic: using outsourced Payroll Management to handle the new non-traditional workforce
Payroll Management became more complex and dynamic during the recent Covid-19 pandemic. The best description of this trend, which will continue into 2025, is a flexible workforce — requiring an equally dynamic payroll management team. The pandemic has forced us to find new ways of doing things, and the re-envisioning …
Payroll Management Solutions: What to do when you have unexpected payroll team loss due to the “Great Resignation, Great Shuffle”
You don’t have to be a Payroll or HR expert to be aware of the Great Resignation. The last few months have seen such record numbers of employees quitting that all news platforms or social media channels seem to have taken note. Not only is it taking its toll on …
Employers Expected to Boost Salary Budget 3.4% in 2022: Survey
After nearly two years of enduring new pandemic-induced wage freeze, many employees across Canada can finally look forward to a salary bump in the months ahead. That is the indication of a new survey by Canadian consulting firm Normandin Beaudry, which found that in 2022 employers plan on increasing their …
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CRA provides updated guidance for employees deducting work-from-home expenses in 2021 & 2022
Employers can help employees in understanding “work-from-home” expenses, by ensuring that their team members are aware of the CRA’s updated guidance for deducting work-from-home expenses in 2021 and 2022. Disclaimer: Please note, that this is for the purposes of helpful information. Please contact us (form below), or your tax expert …