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Pay Yourself First: Setting up Payroll Deductions

Updated: Dec 14, 2018

Does your company have a financial wellness plan? It may be something you should look into.

A study conducted by the Canadian Payroll Association says that about half of working Canadians are living paycheque to paycheque. This can lead to stress and hardship on the employee and the effects can sometimes be seen in employee performance.

You can help your employees along the path to financial wellness by implementing a payroll deductions savings program at your workplace. Saving just 10% of your net earnings each pay can make a huge difference. Two thirds of Canadian companies have already implemented a “pay yourself first” program.

Having a healthy savings plan is a great way to help alleviate financial stress and can be used for retirement plans or as an emergency fund giving your employees peace of mind.

Did you know that GET Payroll Solutions can help you set up a payroll deductions savings plan for you and your employees? Contact us for more info and to set up your free consultation today!

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