The handbook outlines the potential risks employers can expect from Bill 148, and offers human resources and operational strategies to help mitigate the impact.
Bill 148 will bring in a number of reforms to Ontario’s current labour and employment standards laws, most notably instituting a $15 minimum wage by January 2019, representing a 32% increase. The handbook outlines the impacts businesses are likely to see from the numerous changes and identifies that small businesses are most likely to face four main issues:
- Profitability: businesses may not be able to keep up a sustainable profit margin;
- Staffing levels: businesses may not have the capacity to maintain current staffing;
- Competition: to keep their doors open, businesses will be forces to raise prices; and
- Taxation: with higher wages comes higher payroll taxes and contributions to EI and CPP.