Canadian HR RepoRteR September 8, 2014
24 FeaTURes
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PayROll
payroll industry evolving
to meet modern payment structures
By Antony McElwee
T
he payroll industry has
undergone dr amatic
change, much to the ben-
efit of payroll professionals who
have seen their stock rise and job
opportunities expand.
However, as the industry evolves
to meet changing market needs
that make the function of payroll
more complicated, stress points
are surfacing that could lead to a
skills shortage.
ere's a shift to find payroll
candidates with varied experi-
ence for medium-sized busi-
ness and specialists for larger
organizations, according to the
Canadian Payroll Salary Guide,
based on a survey of more than
2,000 Canadian payroll profes-
sionals done by Hays Canada in
partnership with the Canadian
Payroll Association (CPA).
How did we get here? Growth
in this sector has climbed steadily
in recent years. Advances in IT
have democratized access to new
markets, creating more medium-
sized companies in the process.
As a result, payment and benefit
packages have become more nu-
anced. Where hourly rates once
ruled as the de facto payment
scheme, salaries, retirement sav-
ings plan (RSP) contributions and
stock options became the new
norm. Employers expected an
existing payroll employee to add
to her skills and manage the new
regime.
ere was also a considerable
increase in foreign direct invest-
ment in Canadian resource-based
companies, turning already large
employers into very large organi-
zations that operate across Can-
ada and in international markets.
For these companies, pay-
roll needs became complicated.
Unionized environments, multi-
jurisdictional payment and com-
pliance knowledge rose as impor-
tant areas of expertise. e payroll
function became increasingly
fragmented and, as a result, spe-
cialists were brought in.
Today's payroll professional is
a reflection of the demands of a
modern workforce and its pay-
ment and benefit package ex-
pectations. At one moment, the
role requires managing payroll in
British Columbia while, the next,
it requires creating a termination
package for someone in Ontario.
Provinces have different rules
to govern severance and distinct
statutory holidays; then, stock op-
tions, paid leave and hourly wages
must be taken into consideration.
e 21st-century payroll industry
as a group is far more diverse in
skills than previous generations.
It's estimated Canada's 1.5
million employers rely on pay-
roll practitioners for the timely
and accurate payment of $860
maNy > pg. 25
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Ragma
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