OPINION: Three letters to help employees add professionalism to how they manage payroll

opinion: three letters to help employees add professionalism to how they manage payroll

Peter Tzanetakis is president of the National Payroll Institute.

Even though every employer in Canada relies on payroll, the recent article following the latest on the Phoenix payroll clean-up underscores a prevalent misperception. Far too many employers, businesses, and government leaders across Canada are taking payroll for granted and, to their detriment, believe it’s as easy as pushing a button.

In reality, payroll is a complex business function that requires highly trained and specialized expertise, paired with top-tier technology, to professionally navigate the nuances of over 200constantly shifting legislative requirements while managing unmovable deadlines. And that doesn’t take into account the added challenges of paying employees who live and work across provincial or international borders; or collective bargaining agreements that are rife with their own intricacies.

The impact of this oversight may be exemplified by what the federal government has experienced with Phoenix these past seven years — but it would be false to look at what has happened and believe the government’s experience is unique. On the contrary, the example of Phoenix is simply amplified by the number of employees on government payrolls. The truth is that it could happen to any employer still treating payroll as a task to be completed rather than a strategic business partner that isessential to the healthy operation of their organization.

When done successfully, payroll provides a host of benefits. It’svital to business continuity that workers be paid accurately and on time, even in times of flux (think COVID-19, during which 600 federal and provincial legislative and regulatory changes impacting payroll occurred, while governments deemed it an essential service). It protects businesses from fines and penalties by ensuring compliance with a host of legislative responsibilitiesthroughout the year and in case of audits. It supports employee engagement and retention by building trust and supporting employee financial well-being. And it prevents the reputational damage or public mistrust that often follows significant payroll errors.

The good news for employers is that sourcing the expertise needed to manage payroll professionally and reap the benefits of doing so is easy. It starts with three simple letters — either the PCP (Payroll Compliance Practitioner) or CPM (Certified Payroll Manager) designations. Both mean that a professional holds the gold standard in payroll education and practice from the National Payroll Institute. More than 16,000 (and counting) professionals across Canada currently hold these designations.

Beyond the operational benefits of treating payroll professionally, there are also benefits concerning productivity that business owners should be aware of.


Growing financial stress on workers that can result from payroll mismanagement directly impacts workers’ ability to focus on the job. Economic analysis by the Financial Wellness Lab of Canada conservatively estimates that employee financial stress on the job cost businesses more than $40 billion in 2022 due to lost productivity . Now imagine the impact of not having your pay deposited and being left to wonder how you’ll meet your financial obligations.

All of this, taken together, sends a clear message: employers, businesses, and governments must pay attention to payroll. Payroll doesn’t handle itself. It requires professionalism, specialized expertise, care and diligence. A top-tier payroll technology can be incredibly beneficial, but pairing that technology with the specialized knowledge of a designated professional is required to optimize the function.

It’s time to start investing in payroll professionalism.

-The President of the National Payroll Institute, Peter Tzanetakis emphasizes that managing payroll professionally is vital to the health of every business in Canada.

News Related


WARMINGTON: Pot shop shooting a robbery, an accident, a hit gone wrong?

People enter Canna Cabana, a retail pot store, at Victoria Park Ave. and Ellesmere Rd. on Jan. 30, 2023. This strange pot shop shooting has victims and police alike scratching ... Read more »

RCMP rescue man attempting to cross through snowy Quebec forest into U.S.

The man was found in this forest near the Province Hill Cemetery near Mansonville, Que., about 145 kilometres east of Montreal. A man seeking asylum in the United States was ... Read more »

Reports: San Francisco 49ers QB Brock Purdy suffers complete UCL tear, likely to require surgery

San Francisco 49ers quarterback Brock Purdy’s right, throwing elbow will reportedly require surgery. According to multiple reports, Purdy suffered a complete tear to the ulnar collateral ligament (UCL) and is expected ... Read more »

6 Bridal Fashion Trends That Will Be Everywhere In 2023

6 Bridal Fashion Trends That Will Be Everywhere In 2023 This year, wedding fashion will take a turn for the glamorous. As evidenced by the New York Bridal Fashion Week ... Read more »

Bethune-Cookman Player Makes Opinion On Ed Reed Very Clear

ATLANTA, GA – FEBRUARY 02: 2019 Hall Pro Football Hall of Fame inductee and former Baltimore Raven Ed Reed on February 2, 2019 at the Fox Theatre in Atlanta, GA. ... Read more »

Meet the man who has transformed our understanding of evolution

On the Galapagos Islands, a ground finch that usually munched on small, soft seeds was forced, during a drought, to eat harder, larger ones. Within the space of a few ... Read more »

Calgary lawyer enlisted to help mothers of 10 Canadian children join them in moving here from Syria

FILE PHOTO: A general view of a camp for internally displaced people, in northern rebel-held Idlib, Syria September 25, 2022. Four women stuck in a Syrian prison camp who say ... Read more »

World champ freeskier Smaine dies in avalanche in Japan

World champ freeskier Smaine dies in avalanche in Japan TOKYO (AP) — World champion halfpipe skier Kyle Smaine died after getting buried in an avalanche in the mountains of central ... Read more »

Maple Leafs relish chance to cut Boston Bruins lead before all-star break

Maple Leafs’ Wayne Simmonds fights with former teammate Nick Foligno of the Bruins during the first period at TD Garden. The Maple Leafs are no longer running on empty in ... Read more »

La Niña to bring the cold before spring sets in

It doesn’t matter what the groundhogs say. Expect two more frosty months ahead, and it’s all thanks to La Niña, says Kyle Fougère, meteorologist with Environment and Climate Change Canada ... Read more »

Canucks trade captain Bo Horvat to Islanders in blockbuster deal

Canucks captain Bo Horvat is now a member of the New York Islanders. (Photo by Darcy Finley/NHLI via Getty Images) The Vancouver Canucks traded captain Bo Horvat to the New ... Read more »

Oil prices may have already bottomed in 2023, says RBC

RBC says investors should watch prices for industrial metals as a leading indicator for rising Chinese oil demand. (Photo by Wang Jilin/Xinhua via Getty Images) Oil may have already bottomed ... Read more »

Here’s how to turn on Gmail’s new package tracking feature

If you need to track a lot of packages, a new Gmail feature might be right up your alley. Google’s popular email app now has a built-in package tracker, though ... Read more »

Report: Canucks have not met with Bo Horvat’s agent to talk contract for two months

Report: Canucks have not met with Bo Horvat’s agent to talk contract for two months The Canucks have not met with Bo Horvat’s agent Pat Morris for the purpose of ... Read more »

Black Swan Fund Manager Sees ‘Tinderbox-Timebomb’ in Financial Markets

(Bloomberg) — Universa Investments, the hedge fund advised by “The Black Swan” author Nassim Taleb, told clients that ballooning debts across the global economy are poised to wreak havoc on ... Read more »

2 people dead, another seriously injured after collision in Markham, Ont: police

Two people are dead and another is seriously injured after a collision in Markham, Ont., police say. Police are appealing for witnesses after a collision in Markham, Ont., left two ... Read more »

Flames’ Treliving Has Missed on Recent Big Contracts Handed Out

Flames’ Treliving Has Missed on Recent Big Contracts Handed Out What seemed like an amazing response to losing the Calgary Flames’ top two scorers in one offseason has been looking ... Read more »

Apple to launch a variety of software and features in 2023, including next-gen CarPlay

Apple to launch a variety of software and features in 2023, including next-gen CarPlay 2023 has only just begun and before Apple launches iOS 17, there are a lot of ... Read more »

Sask. RCMP asking for public help after young girl sexually assaulted in hockey rink dressing room

RCMP say a ‘significant police investigation’ is underway to find a man accused of sexually assaulting a girl, younger than 10 years old, in a dressing room at the hockey ... Read more »

Andy Reid Reveals What Surprised Him On Sunday Night

KANSAS CITY, MISSOURI – JANUARY 30: Head coach Andy Reid of the Kansas City Chiefs looks on against the Cincinnati Bengals during the first half of the AFC Championship Game ... Read more »

2nd man charged in fatal stabbing of senior in Coquitlam

An RCMP officer at the scene of a stabbing in February 2022 at 228 Schoolhouse St., in Coquitlam, B.C., that claimed the life of a 66-year-old man. Two men in ... Read more »

Pamela Anderson Says Finding A Crack Pipe In Christmas Tree Led To End Of Rick Salomon Marriage

Pamela Anderson visits SiriusXM’s ‘The Howard Stern Show’ at SiriusXM Studios on January 25, 2023 in Los Angeles, California. Pamela Anderson is opening up about her marriage with Rick Salomon. ... Read more »

Saskatoon police arrest 2 people following suspicious death investigation

Two men are arrested following a suspicious death investigation that occurred early Monday morning. Two people have been taken into custody following a suspicious death investigation in Saskatoon. The Saskatoon ... Read more »

China urges McCarthy not to visit Taiwan

China urges McCarthy not to visit Taiwan China is warning House Speaker Kevin McCarthy (R-Calif.) against visiting Taiwan after reports that the GOP leader is planning a trip later this ... Read more »

Around 100 jobs at stake as Evraz prepares for cuts: union

Evraz North America intends to adjust the production on the pipe side of its Regina operation, which will result in layoffs. Facing a constricted market for Canadian-made steel products, Evraz ... Read more »

Why Some Business-Class Passengers Are Finding Themselves Suddenly Downgraded to Coach

Why Some Business-Class Passengers Are Finding Themselves Suddenly Downgraded to Coach Five hours before travel blogger Tyler was about to board his Delta flight from New York City’s John F. ... Read more »

City council committee set to debate code of conduct changes

One proposal would allow the integrity commissioner to initiate investigations without a complaint, if they have reasonable grounds to believe the city’s ethics code has been violated. A Calgary council ... Read more »

Look: NFL World Reacts To Chris Berman Announcement

NEW YORK, NY – MAY 02: Sighting of ESPN’s Chris Berman before “Manus x Machina: Fashion In An Age Of Technology” Costume Institute Gala on May 2, 2016 in New ... Read more »

Nick Jonas & Priyanka Chopra’s Baby Malti Makes First Public Appearance at Hollywood Walk of Fame Ceremony

Nick Jonas & Priyanka Chopra’s Baby Malti Makes First Public Appearance at Hollywood Walk of Fame Ceremony Nick Jonas had a very special supporter at the Jonas Brothers‘ Hollywood Walk of ... Read more »

Saskatoon property tax reassessment deadline approaches

Saskatoon City Hall. There’s only a few days left for Saskatoon home and business owners to appeal their property tax assessments. The review and appeal period for the 2023 assessment ... Read more »

Raptors' O.G. Anunoby 'can't control' rumours that he's unhappy in Toronto

O.G. Anunoby has cleared the air on rumours surrounding him, telling Sportsnet’s Michael Grange that there was no credence to reports that he was unhappy in Toronto. (Reuters) As the ... Read more »

Hospitals in the Northwest face looming shortage of lab technologists

A vital part of healthcare system is facing a looming shortage that looks to get worse in the next five years in the Northwest. Medical laboratory technologists are regulated health ... Read more »

NFL World Thinks Prominent Bengals Player Could Be Cut

CINCINNATI, OHIO – JANUARY 02: Joe Burrow #9 of the Cincinnati Bengals during the game against the Kansas City Chiefs at Paul Brown Stadium on January 02, 2022 in Cincinnati, ... Read more »

Andy Reid Makes His Opinion On Nick Sirianni Extremely Clear

DENVER, CO – OCTOBER 01: Head coach Andy Reid of the Kansas City Chiefs works the sidelines against the Denver Broncos at Broncos Stadium at Mile High on October 1, ... Read more »

Accused axe-wielding Kelowna, B.C. man arrested after window-smashing incidents

At approximately 9:00 a.m. Officers located the male still in his vehicle, parked on a dead-end street in the Ellison area of Kelowna and successfully blocked him from leaving using ... Read more »

Boeing to add 737 MAX line as it plans production boost

FILE PHOTO: A Boeing 737 Max aircraft during a display at the Farnborough International Airshow, in Farnborough By Valerie Insinna and David Shepardson SEATTLE/WASHINGTON (Reuters) -Boeing Co told employees on ... Read more »

All About Michael Jackson's Nephew, Jaafar Jackson, Who Will Play the King of Pop in a New Biopic

Araya Diaz/Getty, Frank Edwards/Fotos International/Getty Jaafar Jackson, the 26-year-old nephew of Michael Jackson, is stepping into the late singer’s moonwalking shoes as he portrays the King of Pop in Lionsgate’s upcoming ... Read more »

'Patient, kind-hearted' Eganville care worker mourned; son charged with second-degree murder

Lisa Sharpe, 48, of Eganville died Wednesday, Jan. 25, 2023. Her 18-year-old son has been charged with second-degree murder. The Ontario Provincial Police have identified the victim of a homicide ... Read more »

Recap: Pelletier returns to the AHL with two points in Wranglers’ 4-1 win over the Reign

Recap: Pelletier returns to the AHL with two points in Wranglers’ 4-1 win over the Reign The Calgary Wranglers had a busy week of hockey playing two midweek games at ... Read more »

Lauren London Learned More About Her Jewish Roots Filming You People: It Became 'Personal'

Actress Lauren London learned more about her Jewish roots while filming the romantic and family comedy You People, which is streaming on Netflix now. “My dad is Jewish, my mom ... Read more »
Kênh kiến thức kỹ năng, phát triển bản thân, hướng nghiệp, blog nhân sự