Hiring a nanny for your family is an important decision, and there are a lot of factors to consider when you are interviewing a potential Mary or Harry Poppins. We’ve compiled a spoonful of things to consider to make sure you have the best nanny experience possible.
Nannies are professionals, and need to be treated accordingly. Having an open and honest salary discussion from the outset is necessary to crafting a good and lasting relationship with your nanny. You’ll need to take some factors into account when deciding salary range, including the experience of the nanny, the number of children he/she will be responsible for, non-monetary benefits (room and board, etc.), additional responsibilities, and the education level of the nanny. Nanny salaries can range quite a bit when it comes to these factors, so determine your budget beforehand and choose to interview candidates who match your expectations.
2. Non monetary benefits
Many nannies receive non-monetary benefits, such as room and board, use of a car, or a gym membership. These benefits should be part of the compensation conversation, and you can take them into account when you are deciding on your salary budget for your nanny. Note that if you are providing room and board for your nanny, you still must adhere to minimum wage laws in your province or state.
As a paid employee of your household, you will need to comply with payroll regulation for your province or state when paying your nanny. Wave has an easy and inexpensive payroll software to help you out, keep you compliant with the regulations in your area, and ensure you are safe at tax time! If you are providing a non-monetary benefit like room and board, you can track that in Wave as a taxable benefit — which will ensure that your nanny is compliant with your province or state income tax regulation.
Good luck in your search for the perfect nanny, and if you have any questions about Payroll you can reach out anytime to our magical support team at support.waveapps.com! Supercalifragilisticexpialidocious, right?
The information and tips shared on this blog are meant to be used as learning and personal development tools as you launch, run and grow your business. While a good place to start, these articles should not take the place of personalized advice from professionals. As our lawyers would say: “All content on Wave’s blog is intended for informational purposes only. It should not be considered legal or financial advice.” Additionally, Wave is the legal copyright holder of all materials on the blog, and others cannot re-use or publish it without our written consent.