This year we’re gifting you with a little wrapping guide of a different kind! Now that December’s here, we’re getting ready to wrap up the craziness of 2020 while looking ahead to 2021. In Workzoom, this is a quick and easy process during which you review your data while also pro-actively planning out what you want to get out of the new year (this may look different for every company depending on your subscription).
Review Leave Entitlements & Carry Overs
Revew your employee leave balances using one of the Leave Balance reports, including their 2020 entitlement, taken, and carry over into 2021 amounts. You may want to note down any negotiated carry over amounts that may vary from the default, which can then be adjusted in the first pay run of the new year.
Review Recurring Transactions
Do you have employees with recurring transactions from 2020? Do a quick review of the balances that will continue to recur in 2021 in case there are any changes needed.
Verify your 2021 Holiday Calendar
Spot check your 2021 holiday calendar to ensure all statutory holidays and company-wide observances such as shutdowns, etc. are defined with the appropriate dates and descriptions. Once updated, these will be reflected on your calendar for everyone to see. This one is especially handy if your teams are pre-planning vacation or paid time off for the year.
Confirm Payroll Rates & Legislative Calculation Changes
Be sure to review any legislative calculations for industry rates that may vary in 2021 (e.g. WSIB/WCB/CSST rates), as well as prompting employees for any updated TD1s and tax exemptions needed.
Benefit Plan Rate Changes
With a new year comes the possibility of Benefit plan rate changes. If any of your rates have changed, be sure to update the appropriate Benefit Plans with the new rates for 2021.
Annual Open Enrollment
Open enrollment events often take place in the later part of the year for coverage changes employees wish to make for the coming benefits year. A quick review of open enrollment changes, such as the enrollment period dates and other parameters is recommended.
Compensation Scales & Rate Changes
For our clients using Compensation Management, pay rates and scales may change on an annual basis. If you have rate changes on January 1st, review your scales and rates, and update them as needed. If you need additional assistance with a high volume of changes, you can perform an import to get all your scale and/or rate changes in at once.
Annual Business & Departmental Goals
If your organization maintains goals on an annual basis, enter new goals for the upcoming year based on your organization’s roadmap and mission.
Annual Performance Reviews
In 2021, Workzoom will continue to automatically generate annual reviews for your employees based on your existing configuration. If any user instructions or evaluation form changes are needed, review your policies and configuration for any specific changes to be made.
Hopefully this guide will give you a little insight into how to use Workzoom to close out your year and plan for the next. As always, our Client Success team is more than happy to provide further details or clarification!