Bill 148 - Keep Calm and Open a Spreadsheet

B y lisa Maslove

 

Now that Bill 148 is set to become law, it’s time for businesses and non-profit organizations to get ready for the new employment standards. If you have employees, chances are Bill 148 will require you to make changes to your payroll and human resource systems. Many of the changes will take effect in a few weeks on January 1st.

I can't even with Bill 148

Wondering where to start?  Here are three tips, and some links to help you get ready:

Narrow it down. While most of the attention so far has focussed on the minimum wage increase, Bill 148 actually affects many aspects of the employer-employee relationship, including public holiday pay, vacation, hiring contractors and leaves of absence (paid and unpaid).  You need to know which provisions affect your business. Find a full list of the changes. Read each one and determine whether it will or won’t affect your organization, or whether you’re not sure.

 

Think about rewards.  Employees who currently earn less than $14 per hour will obviously be getting a pay raise on January 1st.  But what changes should you make for employees who earn more than $14 per hour?  Here is where you need to think broadly about your value proposition as an employer. Are there other benefits, besides higher pay, that you can offer to employees?  A training allowance?  Flexible work arrangements? This is an opportunity to make sure your reward structure aligns with your business goals and values. You may find cost-effective ways of retaining employees while boosting productivity.

 

Crunch some numbers.  If you’re working on your budget for next year, make sure it covers the new employment standards, such as the new public holiday pay calculation, paid personal emergency days and vacation entitlements. If you haven’t used a budget before, now is an ideal time to start.  You may find that the impact on your bottom line is less than you had feared. Having a ballpark number of how the new legislation will affect your business may spark ideas of how to boost your revenue to cover the added costs.

 

Whether you need to update your policies to reflect the changes, or need help creating your first budget, the Flow team is here to help.