At PaymentEvolution, we understand the importance of delivering reliable payroll processing services to our customers. As such, we wanted to take a moment to address the recent news regarding Silicon Valley Bank’s (SVB) current situation and its potential impact on our operations. PayEvo does not rely on SVB to fund our customer payroll services and…
How to Navigate Non-Taxable and Taxable Benefits in Canada
It’s time to talk about the ever-changing rules around non-taxable and taxable benefits. As we’ve mentioned before, benefits are a fantastic and affordable way to attract, retain and reward the best talent. But we also know they’re not always straightforward – especially for small businesses. Generally, if you offer employee benefits, you have a list…
Rage Applying: The Proven Signs of Toxic Work Environments
The pandemic has brought about many changes in the workplace, and one of the latest trends is rage applying. This phenomenon involves gen z and millennials applying to multiple jobs to escape their toxic work environments. Rage applying has recently gone viral, following in the footsteps of quiet quitting and the great resignation. But…
Financial Fitness: Employer’s Guide to a Financially Savvy Team
Canadians aren’t practicing financial fitness. It’s not their fault – transportation, mortgages and food costs have fallen victim to inflation at a year-over-year increase of 6.3 per cent in December 2022. And 47 per cent of Canadians said they have found themselves purchasing cheaper alternatives, brands or items. Meanwhile, over the last six months, more than…
How to Harness the HSA – The Complete Employer’s Guide
We’ve talked previously about the importance of offering benefits to your employees. Attract, retain, reward – that’s the name of the game. We also know what it’s like to be locked into a one-size-fits-all health benefits plan: they’re rigid, you don’t have complete control over your budget, and you might have to pre-fund benefits your…
How to Leverage a Group RRSP – The Complete Employer’s Guide
It’s time to talk about employee benefits – specifically, the group RRSP (registered retirement savings plan). You’re probably familiar with regular RRSPs – a tax-deductible retirement plan to which you and your spouse contribute. As an employer, you can offer group RRSPs to your employees. So how does it work? With a group RRSP,…
What is ePayroll: Examining the early stage of Canada’s ePayroll project
In the 2021 Federal Budget, the government set aside $43.9 million over three years for the first phase of the ePayroll project. The project aims to revamp how government agencies collect Canadian employers’ payroll, employment and demographic information. Currently, the project is in its nascent stage — the CRA is consulting, researching and prototyping a…
6 Year-End Payroll Tips for Canadian Small Business Owners
It’s that most wonderful time of the year – you’re ushering in the new year and now have to think about year-end payroll, remittances and tax documents. OK, we may have oversold it a bit. Year end can be stressful for business owners, bookkeepers and accountants – especially if this is your first. To ensure…
How to Handle Employee Resignations
It’s an unfortunate reality of business ownership: eventually, one of your employees will quit. Probably more than one. And this reality isn’t changing; an ADP survey from July 2022 found that 24 per cent of Canadian workers recently changed jobs. Plus, the percentage of retiring workers in Canada has grown by a third in the…
Don’t Let Burnout Ruin Your Small Business: 7 Tips to Avoid It
The seven essential tips to avoiding burnout as a small business owner.
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