Where you are a CEO, HR executive or small-midsize business owner, the world of work as you know it is rapidly changing. And, if you are in a management role, you should make sure you are prepared for these changes. Here is small sample size of what’s being considered and some of them will likely come to fruition:
Minimum wage hike, addition of paid sick leave, overtime, vacation pay, minimum wage
- Employers will be required to pay employees for sick days taken
- Overtime pay will kick in at 40 hours, from the current 44 hours.
- Paid vacation will change to three weeks per year from the current two weeks
- Employers will be required to pay their part-time workers the same as full-time workers, doing jobs that are similar in nature
- Student and people under 18 who server alcohol will no longer be subjected to the lower minimum wage
While these changes are in Ontario, virtually every province and territory of Canada and across several US states, have changes that are similar in nature are going to be enacted by policy makers. And, the regions who have not updated their workplace laws recently, will be using Ontario as a case study. If you are still using paper time sheets to handle current work rule policies, it might be time to starting thinking about implementing a time and attendance solution to help you handle and adapt to these new laws.
In this blog, 7 Smart Reasons for Your Payroll Clients to Use Time Clocks authored by Louie Calvin for Thomson Reuters Tax & Accounting, a clear case is made for deploying a time clock solution:
“Collect employee data faster — There’s nothing more frustrating to a payroll preparer than waiting for, or chasing down, clients to get what’s needed to process payroll. Time clock applications manage employee changes and hours/time data throughout the pay period in electronic format — much easier than fielding phone calls or emails.
Correct and accurate payroll calculation and reporting — Anytime your team can reduce human error, you’ll spend less time correcting or delaying payroll. Time clocks today are smart devices — they can automatically log out or deduct for meal periods for people who forget to punch in or out, — and technology like data-sharing and use of APIs eliminates double data entry. An automated time system also makes recording hours easier for remote workers, or when employees travel. Depending on the system, reports upload directly into your payroll software, reducing the need for manual entries. The payroll preparer has the benefit of documented client sign-off on the data they submit, and direct import into your payroll application. This eliminates manual data entry and payroll checks are automatically ready for your review.
Ensure employees are accurately reporting time — With a time clock system, you can set up security parameters to make sure the employee is the one reporting their own hours — and that they’re reporting them accurately. You also have the ability to monitor time in and out, meals, breaks and more. Remember, wages that are overpaid or underpaid can result in liabilities that put your business clients at risk for fraud, with the statute of limitations up to three years.”
The proposed employment laws have not taken effect yet, but soon they will and you want to make sure you are prepared.