Verafin Inc.
Verafin employees volunteer their time to cook at the Ronald McDonald House  

Recognized as one of Canada's Top 100 Employers (2021), Canada's Top Family-Friendly Employers (2021) and Atlantic Canada's Top Employers (2021):

Here are some of the reasons why Verafin Inc. was selected as one of Canada's Top 100 Employers (2021), Canada's Top Family-Friendly Employers (2021) and Atlantic Canada's Top Employers (2021):

  • Verafin maintains a results-focused work environment, allowing employees to work when and where they are most productive -- the flexible approach also applies to paid sick leave, personal days and compassionate leave, with the company opting out of establishing set leave lengths
  • Verafin recently adjusted its parental leave top-up for new fathers to offer all parents, including adoptive, the same amount of paid leave, to 75 per cent of salary for a full year
  • Verafin cultivates an ownership culture through a share purchase plan (available to all employees) and helps employees save for the future with matching RSP contributions
Verafin employees volunteer for the Boys and Girls Club of St John's  

Employer Background

Industry Specialized financial software
Established in Canada 2003
Major Canadian hiring locations Halifax NS, St. John's NL, Toronto ON
Full-time employees in Canada 516
Full-time employees worldwide 529
Workforce engaged on a contract basis 1%
Average age of employees in Canada 34 years
Longest serving employee 17 years

Physical Workplace Rating: B+

Commuter amenities free parking, secure/sheltered bicycle parking
Workplace features head office features open-concept pod-style seating (no cubicles), whiteboard walls, centralized area called the Commons (for employee gatherings as well as common space for socializing or impromptu meetings), Skype stations from which employees can easily "meet" from anywhere across the country, two kitchen areas, telecommuter workstations, sit-stand workstations, private phone booth, religious observance room, self-serve lunchroom, outdoor barbecue, discounts at local restaurants
Employee lounge amenities comfortable seating, music, board games, room with a massage chair for employees to take a break, treadmill desk to engage the body and mind, library area with games
Snacks available free lunch Tuesdays to Thursdays, free healthy snacks including breakfast cereals, popcorn, fruit, granola bars, beef jerky, hummus and crackers
Onsite cafeteria healthy menus, special diet menus, free meals daily
Other nearby amenities EmpowHER Fitness, Orangetheory Fitness, wooded trail behind the building, Memorial University of Newfoundland, St. John's airport

Work Atmosphere & Communications Rating: A+

Past social events recently celebrated its 16th birthday at the St. John's Convention Centre (with performance by the Sheep Dogs), annual evening Christmas party for employees and friends, a separate celebration for employees' children (games, food, bouncy castles and even a visit from Santa), quarterly team dinners, lunches, barbecues, sporting events and social events (including a popular Friday afternoon beer cart so employees can enjoy beer, wine or a cooler at the end of the week)
Cultural aspects casual dress (e.g. jeans) daily, music while working, can bring pets to work when needed, concierge services available, employee sports teams
Employee communications intranet site, traditional/email suggestion box, internal social media

Financial Benefits & Compensation Rating: B+

Outside salary surveys participates in outside salary surveys every 12 months
Employee salary reviews individual salaries are reviewed every 12 months
Long-term savings matching RSP
Long-term planning life & disability insurance
Share purchase plan available to all employees
Referral bonuses (max) new employee referral bonuses (up to $2,000) for some positions
Additional financial benefits corporate discount program (e.g. retail, services, travel, etc.)

Health & Family-Friendly Benefits Rating: B+

Health plan premium as part of the health plan, the employer pays up to 50% of the premiums
Minimum hours worked for coverage 25 hours per week
Waiting period there is no waiting period for coverage
Family coverage option yes
Dental coverage routine, restorative, orthodontics
Paid sick days employees receive 10 days off each year
Health plan includes traditional coverage (e.g. prescription drugs), employee assistance (EAP) plan, semi-private hospital room, physiotherapy, medical travel insurance, homecare, medical equipment and supplies, massage therapy, nutrition planning, podiatrist, osteopathy, chiropractor, alternative coverage (e.g. acupuncture, naturopathy)
Mental health practitioner benefit up to $1,000 each year
Fitness club subsidy up to $2,000 each year
Additional health plan information access to Best Doctors service, smoking cessation products
Maternity top-up (mothers) up to 75% of salary for 52 weeks
Parental top-up (fathers) up to 75% of salary for 52 weeks
Adoption top-up up to 75% of salary for 52 weeks
Flexible work options flexible work hours, 35-hour work week (with full pay), shortened work week (fewer hours with less pay), compressed work week, telecommuting

Vacation & Personal Time-Off Rating: A+

Unlimited vacation allowance offers a no-limit vacation policy
Personal paid days off employees can schedule 10 personal days off each year, as needed
Unpaid leave of absence option yes
Additional time-off information offers a unique no-limit vacation policy where paid vacation is unlimited and determined on a case-by-case basis, duration of unpaid leaves of absence are also determined on an individual basis

Employee Engagement & Performance Rating: B+

Employee performance reviews employees receive individual performance reviews every 12 months
Managers receive performance review training yes
360° feedback option as part of the review process, performance feedback is also solicited from co-workers and other managers familiar with each employee's work
Confidential employee feedback employees can also provide confidential feedback on their manager's performance
Exit interview exit interview option is available for departing employees
Performance recognition on-the-spot rewards, peer-to-peer recognition awards
In-house survey period in-house surveys are conducted every 4 months

Training & Skills Development Rating: A

Career planning in-house career planning services
In-house training initiatives in-house training, online training, leadership training, paid internships
Annual tuition maximum employer pays up to $2,000 in tuition subsidies for job-related courses per year
Unrelated tuition maximum employer pays up to $2,000 in tuition subsidies per year for courses unrelated to current position

Community Involvement Rating: A

Scope of charitable involvement local, national, international
Employee charitable involvement employees are involved in selection of charities, employees receive paid time off to volunteer
Total employee volunteer hours (on company time) over 1,047 hours last year
Total number of charities supported last year approximately 30 charitable and community organizations were supported last year
Some of the community organizations supported Choices for Youth Blue Door program, Home Again Furniture Bank, Memorial University of Newfoundland, Seniors Resource Centre, Iris Kriby House, Community Food Sharing Association, Goodlife Kids
Charitable giving matches employee donations
Community highlight Verafin's primary charitable focus is fighting financial crime and initiatives to support youth and education. The company also maintains the VeraCares committee, which helps select charities to receive support.

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