HomeWealth ManagementMeridian turns into largest licensed residing wage employer in Ontario

Meridian turns into largest licensed residing wage employer in Ontario


“Our staff energy Meridian’s objective and now we have a dedication to help their monetary safety and financial well-being,” says Jay-Ann Gilfoy, president and CEO of Meridian. “As a Licensed Dwelling Wage Employer, we’re constructing resilience and wealth within the communities the place we reside and work.”

Pathwise Credit score Union in Oshawa, Ont. additionally grew to become a residing wage employer in 2020.

However a 2014 report from the Fraser Institute mentioned that residing wage insurance policies trigger employers to chop again on jobs, hours and on-the-job coaching, together with hiring extra certified staff on the expense of these with fewer expertise to offset a few of the larger wage prices.

Dwelling wage advantages

Paying staff a residing wage is useful to staff and employers alike, in keeping with Meridian. Workers who earn a residing wage expertise elevated psychological and bodily well being, and financial well-being.

Additionally, employers paying a residing wage expertise a lower in worker turnover and absenteeism, elevated retention and productiveness, and financial savings on rehiring and retraining.

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