PEO CANADA

• 05Mar

  Is Cold Calling Dead?

  Business Please leave a Comment

  The bane of existence for most people when they think of getting into sales, “cold calling” is the thing that keeps many good people away from the profession of sales. The question almost everyone asks, “Do I have to do cold calling?”

   

  As well, there is a wave of thought that believes the era of cold calling is dead. Networking is the way to get successful in sales. That is where you make all the big sales. I cannot deny that. Often the senior people will not accept cold calls and the only way to meet them, connect with them, and build a relationship with them, is initiated in a networking avenue. Or it comes from a referral from someone else.

   

  In building a sales territory or book of business, in many instances it is a must to network. People are busy running just to stay ahead today. To land the “big fish”, you need to network and meet people away from the traditional business avenues.

   

  However, is cold calling dead? I think that depends on who your client is. If your client, or target market, consists of primarily senior people, you better get out the networking suit and hit the events.

   

  But if your potential client base is the “average Joe”, or “Josephine”, then going to networking functions may not reach everyone. Senior people network, sales people network but most people don’t. So if your client is going to be the average mid level manager, intermediate decision maker, I believe you still need to hit the streets.

   

  I agree that the day of walking in on a company and expecting to meet the decision maker is long past but walking up and down the street, obtaining contact info, researching the company and then “cold call phoning” to book appointments, is still a very effective way to build your business.

   

  Is cold calling dead? I think it depends on your target market. But for some, it is still a critical component to being successful. You just need to suck it up, go out and do it.   

   

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• 03Mar

  New Year’s Resolutions – Success or…”not so much”??

  Health and Wellness Please leave a Comment

   

  How are you doing on your New Years Resolutions? Most of us begin each New Year with wonderful intentions to get fit, eat better, lose weight or, in general, attain a better level of wellness in our lives.

   

  However, usually by this point, most of us have already faltered. We need to learn to take baby steps towards our goals and not to give up if we encounter a set back.

   

  Wellness is multi-faceted: Physical, Mental and Emotional concerns all affect us each day. Since all of our body’s systems are connected, our family and social life, work environment and spirituality all play an important role in our overall wellness.

   

  Increasing your Physical Wellness can start with simple activities such as a 10 minute walk, or taking the stairs instead of the escalator or elevator. Rather than force yourself to go to the gym, crank up your favorite playlist and start dancing and singing around the house. Remember the olden days and how we loved to skip? A skipping rope is an inexpensive and fun way to start getting some exercise. A more popular activity is to join your kids with the Wii fit and challenge each other. Make Fitness Fun! If we get accustomed to taking small steps to physical activity, we may start to enjoy the good effects and look to extend our activities and the length of time we are willing to commit. Our diet can also have a direct affect to physical wellness. Strive to eat a wide variety of food and abide by the rule - ‘everything in moderation’. Also, remember the other biggie - Drink lots of water and rehydrate your body.

   

  Improving Mental Well-being by taking the time to enjoy lounging in a soothing bath, relaxing and losing yourself in a good book, or learning a few yoga techniques can go a long way to reducing stress and improving our body and soul. If you’re committed to making this year even better than last, your first step is to stop feeling guilty for doing the things you enjoy. What matters isn’t what you choose to do, but that it makes you feel good about yourself. Make time to let your mind wander - you never know where your dreams may lead. Daydreaming can relax the mind, boost productivity and allow you to consider a wide range of possibilities for yourself. Try a little reading, a little soft music - whatever makes you feel nurtured and relaxed. 

   

  Emotions and well-being also go hand in hand. Getting in a good nights sleep can do wonders for your day.  Try getting to bed 30 minutes earlier every night for a week and see how the extra sleep affects your mood. If you are so lucky and have the time, try taking a nap. Make sure you don’t nap for much longer than 20 minutes or you’ll wake up groggy. Take your nap early in the afternoon so you don’t have trouble falling asleep at bedtime. Taking time for yourself is necessary but don’t forget that taking the time to connect with our loved ones will also reap rewards. Cuddle your kids, hug your spouse, and share some laughter.

   

  We tend to take care of everyone else before we take care of ourselves. Let’s give ourselves a break and get back on track – one step at a time.

   

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• 17Feb

  Benefits of Outsourcing

  Human Resources Please leave a Comment

  Many people see the Human Resource function time consuming and a necessary evil. While the Human Resource function is important to any company, many business owners and executives spend up to 25% of their time managing these duties instead of focusing on strategic objectives of the company. Many of these duties are dealt with more appropriately by a Human Resource professional, or team of Human Resource professionals, with up to date knowledge on industry trends and current labour practices.   While hiring an in-house specialist is an option, it can be costly, especially for a well seasoned professional or in many situations, where fulltime assistance is not required. 

   

  The following article discusses how the outsourcing market is projected to increase as companies become more aware of the cost savings and benefits.  It also provides important questions that should be asked of a service provider. To read the full article click on the following link:

   

  http://www.hrng.ca/node/827

   

   

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• 17Feb

  Canadian retirees are faring far better than their U.S. counterparts…..

  Benefits Please leave a Comment

  There was an interesting article on the Benefits Canada website about the saving habits of Canadian versus American retirees. The article is based on the TD Bank Financial Group’s North American Report on Retirement survey. To read more on how Canadian and American retirees felt with their RRSP and 401K savings click on the following link:

   

  Canadian retirees breathe easier - written by Jody White

  http://www.benefitscanada.com/news/top_stories/article.jsp?content=20100210_153628_11228

   

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• 04Feb

  Tax Savings at Your Fingertips – Do you know what you can claim?

  Business, Payroll 1 Comment

  You may already know of a few credits, deductions and benefits you are entitled to claim on your tax return, but do you really know all of them? Have you ever looked at your tax situation and researched various tax deductions you may be eligible for? Unless you’re an accountant, many of us just don’t know or take advantage of all the tax deductions possibly available to us. The Canadian Revenue Agency’s web site is a good place to start. With tax season just around the corner it has a wealth of information on various items you could claim on your taxes based on your current tax situation.

   

  For many, 2009 was a rollercoaster of ups and downs due to the economic crunch. We could all use as many tax tips and deductions as we can get this year. Starting January 12, 2010 the CRA will be issuing a variety of tax tips to help you determine which credits, deductions and benefits you may be able to claim on your 2009 income tax and benefits return.

   

  For more information and to find out what you are eligible to claim check out the Canadian Revenue Agency web site:

   

  http://www.cra-arc.gc.ca/nwsrm/txtps/2010/tt100119-eng.html

   

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• 25Jan

  TFSA – First Birthday!

  Benefits Please leave a Comment

  Still confused about the TFSA? Wonder if you should encourage your employees to contribute to one as well as an RRSP? You are not alone. Perhaps a look at some pros and cons can help give some clarity.

   

  A TFSA is a Tax Free Savings Account to which any Canadian 18 years or older can contribute a maximum of $5,000 per year. 

   

  ·          There is no requirement to have earned income to contribute to a Tax-Free Savings Account. This is perfect for spousal plans or for students.

  ·          There is no tax deduction for contributing to a TFSA; however, the returns generated on investments (interest, dividends or capital gains) are not taxable. 

  ·          Withdrawals are tax-free. Money can be withdrawn at any time, depending on the investment. In addition, contribution room accumulates each year and any amounts withdrawn can be re-contributed anytime after the year of withdrawal.

   

  The choice of contributing to a RRSP over a TFSA can depend on the tax level at the time of contribution versus the tax level at the time of withdrawal. 

   

  With an RRSP, higher income earners can take advantage of immediate tax deferrals to a future date when their income is expected to be lower and therefore be in a lower tax bracket when making the withdrawals. However, for the reverse, where income is currently low but a much higher income is anticipated at retirement, the TFSA makes more sense as the ability will be there to withdraw tax free at that later date when tax levels will be much higher. 

   

  High income earners who have already maxed out their RRSP contribution room may wish to consider a TFSA as an additional savings option.

   

  It can be available to provide a nice shelter for bonuses, income tax refunds or any other type of one-time windfall such as the lottery winnings we all wish for.

   

  It is a flexible way to save for special short term objectives such as a new car, a well deserved vacation, household needs or even an emergency fund. If any amount is withdrawn, that amount is still available as contribution room that can be put back into the plan in the future.

   

  Now that we have TFSA available, depending on your situation, a common strategy is to build up a good nest egg in both a TFSA and an RRSP. This will provide all kinds of planning opportunities to minimize tax after retirement. The TFSA allows more flexibility and fewer restrictions as withdrawals from a TFSA do not trigger the claw-back of government benefits such as Old Age Security or the Guaranteed Income Supplement.

   

  So join the TFSA birthday celebration and encourage your employees to review the possibilities of adding a TFSA to their retirement plan. Effective communication and decision support tools will allow your employees to understand and use the TFSA effectively to meet their specific needs.  Although the benefits may seem small in the short term, the long term benefits can be significant.

   

  We all need to reward ourselves!

   

  For further insight into TFSA’s we recommend the following:

   

  http://www.cga-canada.org/en-ca/ResearchReports/ca_rep_2009-01_tfsa.pdf

   

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• 19Jan

  Program Identifier (RZ) – What’s that about?

  Business, Payroll Please leave a Comment

  If you operate a business in Canada, you may have received a notification from Canada Revenue Agency regarding the new Program Identifier (RZ) that attaches to your Business Number. You may be asking yourself; What’s that all about? How does this affect me?

   

  A Canada Revenue Agency Account Number is comprised of 3 parts; a nine-digit Business Number (BN), a two letter program identifier and a four-digit reference number. Each business or legal entity should have one BN.  

   

  For example:

                                                                                     Business Number          Program Identifier          Reference Number

   

  ABC Ltd.                                                                               123456789

          Corporation income tax account                                       123456789                    RC                                0001

          Payroll Account                                                              123456789                    RP                                0001

          Payroll Account (2)                                                         123456789                    RP                                0002

          GST/HST Account                                                          123456789                    RT                                 0001

          Information Returns – T5 Group                                        123456789                    RZ                                 0001

          Information Returns – T5 Group                                        123456789                    RZ                                 0002

          Information Returns – Contract Payments                         123456789                    RZ                                 0003

          Information Returns – TFSA                                             123456789                    RZ                                 0004 

   

  Effective January 1, 2010, you will be required to use your BN with a new RZ account number to file any of the following information returns with CRA:

  • T5 – Return of Investment Income
  • T5007 – Return of Benefits
  • T5008 – Return of Securities Transactions
  • T5013 – Partnership Information Return
  • T5018 – Contract Payments Information Return
  • Registered Retirement Savings Plan (RRSP) Contribution Receipts Return
  • The new Tax-Free Savings Account Annual Information Return.

  If you employ third party administrators to issue receipts or returns you may not be affected. For example, if your RSP is through a large insurer who usually issues the receipts then the insurer may be responsible for submitting information using the new BZ numbers.

             

  There isn’t a lot of information currently on the Canada Revenue Agency website. There are, however, a couple of sites that maybe useful:

   

  http://www.cra-arc.gc.ca/tx/bsnss/tpcs/fncnvrsn/cctnmbr-eng.html

   

  http://www.cra-arc.gc.ca/E/pub/tg/09-115/09-115-e.pdf

   

  If you are responsible for information returns, I would recommend discussing this with your accountant/accounting department and any third party administrators to ensure that you are in compliance with the new requirements. Keep watching the CRA website as there maybe more bulletins posted as they receive more inquiries.

   

  Happy Reporting!

   

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• 12Jan

  Attitude Is Not Always an Indicator of Productivity

  Human Resources Please leave a Comment

  The attached article posted on the Human Resources Networking Group site, brought to light many good points regarding the need to review outside influences and factors, in addition to performance, when dealing with what are perceived as difficult employees, or “Bad Apples”. A lot of employers assume that if an employ has a poor attitude, or is difficult then they are a trouble maker, and should be let go from the company. This article discusses the fact that maybe they are creating waves within the company because they are more productive then others and this is frustrating to them, or maybe they are not good in a group environment, and may be better suited in an environment in which they can work by themselves. Be careful because the friendly employees who get along with everyone might not be making the company profitable.

   

  http://www.hrng.ca/sites/hrng.ca/files/The_Bad_Apple_At_Work_May_be_Your_Best_Apple_0.pdf

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• 31Dec

  Long Term Implications of Long Term Disability

  Benefits Please leave a Comment

  What should you be thinking about if your employee has a Long Term Disability (LTD)? And, more importantly, what should you be thinking about before they reach the transition from a short term to a long term disability?

   

  Most insured plans today tailor their LTD programs to coincide with the federal programs for EI and CPP sickness/disability benefits. Once an employee has been unable to work for 17 weeks they would transition from a short term to a long term disability.

   

  As soon as you are aware of a possible long term disability case then you need to do some planning in advance. Here are some points to consider:

   

  ·         Is the employee able to assist in the application process or is another family member or other representative designated as your primary contact. Who do you have permission to talk to? Never assume, get an authorization in writing if you are not dealing directly with the employee.

   

  ·         Before the 17 week point, ensure that the employee or representative has all the applicable claim forms and that they understand the process and procedures that will be occurring.

   

  ·         As part of an insured LTD plan, an insurer will assign a disability case worker/adjudicator and/or rehabilitation specialist or combination of all 3. Ensure that as an employer you coordinate fully with these individuals to assist the employee. Liaison is critical between the employer, employee and insurer. If you are managing multiple LTD claims you may want to write formal processes.

   

  ·         Will health and dental benefits continue? If so, who will be responsible for payment of the premiums? Will the coverage be the same? Will there be any adjustments for cost of living? If the employee will be contributing how will payments be collected? Ensure that the employee is 100% clear – putting this information in writing is very important.

   

  ·         If health and dental benefits are continuing at what point will this cease? Most plans allow for a review of an LTD case at the 2 year mark often coinciding with their own occupation definition. At this point there will often be a determination if the disability is permanent and whether the employee is likely to return to work. If the employee is unlikely to return to work you will need to determine if the employee still qualifies for coverage under the contract. There maybe written requirements in contracts/policies or in union agreements as to how benefits are handled in LTD situations – ensure that you check. If nothing has been written and you are in new territory then remember any decisions you make about benefits continuation due to permanent disability will set a precedent.

   

  ·         Once an employee moves into a long term disability scenario it is important to maintain contact. It is a good idea to assign a supervisor or manager with the task of maintaining contact - be specific and set up some time line expectations. From a planning point of view an employer will need to know if and when the employee is likely to return. Beware of hiring a permanent replacement as those employees that seem unlikely to return often do!

   

  Disability management is a very complex subject and each scenario may need to be handled slightly differently due to the nature of each illness. The above list is just a few ideas to get you thinking! Ensure that you utilize all resources for support and information, especially your insurer. Remember, careful consideration of all possible outcomes is crucial for effective management of disability situations.

   

   

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• 21Dec

  Pregnancy in The Workplace - Employer Obligations

  Human Resources, Payroll Please leave a Comment

  In recent years we have seen an increase in employee pregnancies in our company and I’m sure that most of you have seen the same. This can be tough on employers as Canada has one of the most generous maternity leave policies in place. Combined maternity and parental leave is a total of 52 weeks. That is one year!! This is extremely nice for a family but hard on an employer as you have to fill that gap for that year.

   

  First, you cannot fire or demote an employee because they are pregnant. Even if that employee has not worked for you for 52 weeks, you still cannot fire them. You must accommodate your pregnant employee’s needs for the time that they are pregnant. They must still have access to all benefits, such as overtime, seniority and vacation time. You also cannot tell your employee when they are to start their leave. As long as that employee is up to it, they can work right until the day the baby is born. Pregnancy is a valid health reason to be away from work for appointments and such but it is in no way considered an “illness” or “disability”. Employers must be very cautious as to how they approach their pregnant employees as any misguided comment could become a labour standards issue.

   

  Once an employee is off on Maternity leave, you are not obligated to provide any additional salary to them. New mothers can apply for Employment Insurance benefits as long as they are eligible. To receive maternity benefits, an employee is required to have worked for 600 hours in the last 52 weeks or since their last Employment Insurance claim. A mother can start collecting these benefits up to 8 weeks prior to their due date. It is the employee’s responsibility to advise their employer as to the start of their maternity leave. This should always be completed in writing and depending on the province of employment, an employee must provide anywhere from 2 – 4 weeks notice of their leave.

   

  Upon completion of an employee’s maternity/parental leave, employees must provide their employer with a letter indicating the date of their return. A returning employee must be reinstated to their former position or to a position that is comparable with the same rate of pay and benefits that they had when they left. It is always best to consider hiring someone for a contract position so that when the employee does return to work, the contract person is aware that their position is complete. In addition to that, if the employee decides not to return, the contract can be extended for that current employee, without having to train someone new….again.

   

  On that note, I sign off on my last blog as I too, will be on maternity leave as of December 31, 2009. Happy Holidays to everyone!

   

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