Sixty four per cent of Canadian payroll professionals think business activity will increase in 2014 while 31 per cent believe it will remain the same, according to a survey by Hays Canada in collaboration with the Canadian Payroll Association (CPA).
Just 12 per cent of employers expect permanent staff to increase in the upcoming year while 83 per cent think it will remain the same and five per cent expect a decrease, found the survey of more than 2,000 payroll professionals and practitioners.
When it comes to compensation, 58 per cent of the respondents were either unsure or think their compensation package is not competitive with the current market rate while 42 per cent think their compensation package is competitive.
Payroll is becoming more specialized and the profession is changing as employers aim to become more lean and efficient, according to Antony McElwee, senior manager at Hays Accounting and Finance.
“The demand for specialized skills sets and experience is rising, resulting in competition for payroll professionals, particularly those with complex experience in multi-province and international (particularly the U.S.) payroll and unionized environments, as well as professionals with payroll compliance knowledge. Hybrid roles with an element of HR and benefits experience are also becoming more sought after by mid-sized companies.”
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