Survey assesses the roles and responsibilities of payroll professionals, identifies opportunities to add more value to their organizations
There may not be a lot of streamers and balloons floating around the payroll department, but this week is the time to celebrate what it does.
Now in its 11th year, National Payroll Week (Sept. 12 to Sept. 16) is a chance to say thanks to the hardworking professionals in payroll. It’s also a chance for payroll practitioners, and organizations, to take a step back and look at what payroll brings to the table.
Earlier this year, the Canadian Payroll Association completed its second survey of members and their employers to assess the roles and responsibilities of payroll professionals and to identify opportunities for them to add more value to their organizations.
The survey showed a clear majority — 65 per cent — of both practitioners and employers said expanding human resource activities is the best avenue for payroll personnel to add greater value to their organizations.
But more involvement in HR wasn’t the only area identified. Almost half (47 per cent) said being more involved in finance and accounting was a possibility and 31 per cent said a role in information technology would give them the opportunity to contribute more. (Employer-only responses showing areas where payroll could play a role are collected in the table on the left.)
The results show that employers understand that payroll practitioners do more than just paying employees accurately and on time. Organizations should tap into payroll practitioners’ understanding of technical, reporting and employee systems and procedures to help improve operational efficiency at a variety of levels.
What payroll does: A look at the numbers
Payroll practitioners, on behalf of Canadian employers, pay more than $615 billion in wages and salaries and make more than $160 billion in payroll remittances to the Canada Revenue Agency and $20 billion to the Ministère du Revenu du Québec. They also produce more than 18 million T4s and RL-1s used as part of the tax administration functions which allow Canadian workers to settle up their personal tax liability with the federal and Quebec governments.
Those remittances total about two-thirds of all government revenue in Canada. That’s why payroll professionals are part of Canada’s economic backbone. They keep Canada paid — employees through paycheques, businesses through ensuring compliance and federal and provincial governments through payroll remittances.
Many employees, and employers for that matter, don’t realize there is more to calculating and processing paycheques than meets the eye. Payroll professionals are also responsible for compliance, government remittances, pensions and benefits and legislative monitoring for impacts to payroll. Often the only time payroll professionals hear from employees is when there are errors on their paycheques.
Payroll practitioners are responsible for filing remittances for employment insurance, Canada Pension Plan, Quebec Pension Plan, income taxes in addition to other federal and provincial remittances and reports such as the record of employment.
Payroll professionals also co-ordinate the disbursement of payroll withholdings such as savings plans, insurance, disability and medical benefit claims, company pension plans, union benefits and group registered retirement savings plans.
Wendy McLean is manager, marketing and corporate communications for the Canadian Payroll Association. She can be reached at (416) 487-3380 ext. 111 or [email protected]. For more information about National Payroll Week visit www.payroll.ca.
Now in its 11th year, National Payroll Week (Sept. 12 to Sept. 16) is a chance to say thanks to the hardworking professionals in payroll. It’s also a chance for payroll practitioners, and organizations, to take a step back and look at what payroll brings to the table.
Earlier this year, the Canadian Payroll Association completed its second survey of members and their employers to assess the roles and responsibilities of payroll professionals and to identify opportunities for them to add more value to their organizations.
The survey showed a clear majority — 65 per cent — of both practitioners and employers said expanding human resource activities is the best avenue for payroll personnel to add greater value to their organizations.
But more involvement in HR wasn’t the only area identified. Almost half (47 per cent) said being more involved in finance and accounting was a possibility and 31 per cent said a role in information technology would give them the opportunity to contribute more. (Employer-only responses showing areas where payroll could play a role are collected in the table on the left.)
The results show that employers understand that payroll practitioners do more than just paying employees accurately and on time. Organizations should tap into payroll practitioners’ understanding of technical, reporting and employee systems and procedures to help improve operational efficiency at a variety of levels.
What payroll does: A look at the numbers
Payroll practitioners, on behalf of Canadian employers, pay more than $615 billion in wages and salaries and make more than $160 billion in payroll remittances to the Canada Revenue Agency and $20 billion to the Ministère du Revenu du Québec. They also produce more than 18 million T4s and RL-1s used as part of the tax administration functions which allow Canadian workers to settle up their personal tax liability with the federal and Quebec governments.
Those remittances total about two-thirds of all government revenue in Canada. That’s why payroll professionals are part of Canada’s economic backbone. They keep Canada paid — employees through paycheques, businesses through ensuring compliance and federal and provincial governments through payroll remittances.
Many employees, and employers for that matter, don’t realize there is more to calculating and processing paycheques than meets the eye. Payroll professionals are also responsible for compliance, government remittances, pensions and benefits and legislative monitoring for impacts to payroll. Often the only time payroll professionals hear from employees is when there are errors on their paycheques.
Payroll practitioners are responsible for filing remittances for employment insurance, Canada Pension Plan, Quebec Pension Plan, income taxes in addition to other federal and provincial remittances and reports such as the record of employment.
Payroll professionals also co-ordinate the disbursement of payroll withholdings such as savings plans, insurance, disability and medical benefit claims, company pension plans, union benefits and group registered retirement savings plans.
Wendy McLean is manager, marketing and corporate communications for the Canadian Payroll Association. She can be reached at (416) 487-3380 ext. 111 or [email protected]. For more information about National Payroll Week visit www.payroll.ca.
