2016-12-12 00:00:00 Hiring English Lighten your workload by hiring a new employee for your small business. Here is what you need to do before you complete the record of... https://d1bkf7psx818ah.cloudfront.net/wp-content/uploads/2017/03/08214620/Business-Owner-Hires-First-Employee.jpg How to Hire Your First Employee

How to Hire Your First Employee

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Your new small business is booming, and it is getting harder and harder to manage your workload alone. Are you ready to make the leap from owner/operator to employer? Here is what you need to do before you hire your first team member.

*Review local labour laws. Get familiar with minimum age and wage regulations in your area, as well as laws regarding work hours, breaks, and fair treatment.*Register with the Canada Revenue Agency as an employer. Any Canadian who pays wages or taxable benefits to another person must have a registered business number and a payroll deductions account.*Calculate labour costs, review your budget, and set a negotiable range for fair compensation.*Implement a system to manage employee hours, wages, and tax deductions. Consider using an app to track time, along with a reliable bookkeeping program.*Post an ad, conduct interviews, and select the most suitable candidate.

References & Resources

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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