Rates for the Workers' Compensation Benefit (WCB) and Workplace Safety and Insurance Board (WSIB) across the country can look slightly different. Some are written as a dollar amount, some as a percentage, and some even come with confusing calculation formulas!
This article will help you understand how Employment Hero defines these rates so you can set up your Workers' Compensation Feature with confidence.
Looking for a full walkthrough?
For detailed instructions about how to set up your Workers' Compensation Feature, check out our Workers' Compensation Setup Guide.
What you need to do
To ensure your Workers' Compensation rate is set up correctly, it's important to understand a few key concepts first. We've outlined the steps you need to follow.
The steps below will take you through setting up a new rate in your Workers' Compensation Feature in Employment Hero.
- In Settings, navigate to the Payroll card and click on Workers' Compensation.
- Click on the + Create rate button.
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Enter the Rate Name, Applicable year, Province, and Rate.
- The rate name is a free-text field; you can name the rate whatever you choose, and can edit this field later
- The applicable year. This field is NOT editable later
- The applicable province. This field is NOT editable later
- The rate of assessable earnings for the relevant province. This field is NOT editable later
- When you're ready, click Create rate to save the rate in Employment Hero.
- Once created, you can click the + Assign Employees button to assign the workers' comp rate to specific employees or all employees in bulk.
The workers' compensation rate in Employment Hero should be entered as a numeric value. Be sure to avoid any symbols or letters, as Employment Hero will not recognize them. Check out the table below for some examples.
Example Rate |
Enter As |
0.19% |
0.19 |
$1.60 |
1.60 |
0.22% or 22 cents/ $100 |
0.22 |
Our system is clever and can do these calculations for you. Just enter your rate, and Employment Hero will take care of the rest!
In Employment Hero, you can easily adjust an employee's assigned rate whenever necessary. The first step is to unlink the employee from their current rate. Once that's done, they're no longer tied to that rate and are ready to be assigned a new one.
Don't worry, all historical data linked to their old rate will stay safe and sound in the system. This means all past earnings and related information won't be touched.
Once the rate change is in place, all future earnings will be based on this new rate. It's a smooth transition from one rate to another, making sure the employee's earnings match their new rate going forward.
Hopefully, this helped make entering your workers' compensation rates into Employment Hero a breeze!