Payroll Services

What is Payrolling?

Sometimes a client wishes to hire an employee (full-time or part-time, long-term or short-term) but does not wish to include that employee on the firm’s payroll. This can happen when the client’s payroll size is limited by corporate directive, when current union concerns temporarily inhibit hiring, or when the client simply wishes to avoid the complexities of adding temporary, hourly-paid employees to in-house payroll.

Being a full-service leader in recruitment, Executrade provides a unique payroll service solution through its payroll division. Typically, our client will recruit, select and supervise the employee, and Executrade will serve as the official employer.

Executrade insures the employee under WCB and is responsible for vacation pay, CPP and EI contributions, and all legal documentation such as Records of Employment (ROEs) and T4 slips. Executrade can also administer health and other benefits if required.

How does Executrade’s Payroll Service differ from its Temporary or Contract Placements?

With payrolling, the client is responsible for the recruitment and selection of the employee. With a temporary or contract placement, Executrade performs the recruitment and selection.

In addition, our payrolling services are not limited to the recruitment areas (i.e. administration, accounting) that Executrade specializes in. For example, many of our payrolled employees fall into the light industrial category.

How does Executrade bill for its Payroll Services?

As with most temporary and contract placements, billing rates for payrolling are set at a percentage mark-up over the employee’s pay rate. This mark-up includes all employer costs such as Canada Pension Plan contributions, Employment Insurance, Workers’ Compensation insurance, vacation pay, and Executrade’s administrative costs of payroll.

The percentage varies according to:

  • Number of employees being payrolled and their respective pay levels
  • Nature of the positions – WCB rates vary for different fields of work (i.e. industrial vs. clerical)
  • Payment terms – mark-up is lower for quicker payment period (i.e. 7 days vs. 30 days)

It is important to note that some client companies have found it more cost-effective to payroll employees through Executrade than to add them to their own payroll.