COVID-19 accelerated innovation in payroll, and there is a palpable shift in its strategic importance.
Upending the stigma of being the ‘unsexy’ HR relation that's oftentimes dealt with at arm’s length.
HR and payroll specialists have delivered when it mattered most during the pandemic.
Watch this on-demand webinar and learn about:
With the hashtag #PayrollIsAnIndustry currently trending thanks to the Global Payroll Association, there is a palpable shift in the profession and its strategic importance, upending the stigma of being the ‘unsexy’ HR relation that’s oftentimes dealt with at arm’s length.
The impact of COVID-19 accelerated innovation in payroll like never before. And HR and payroll specialists have delivered when it mattered most during the pandemic.
As organizations prioritize skills, mobilize internal talent, tap into gig workers and continue to adjust to the evolving future of hybrid working, payroll has to be ready to respond and provide a solid foundation for its business and its people. Now, it is time organizations moved payroll up the business agenda, invested in digital solutions, and resolved the disconnection between payroll systems, HR, and Finance.
If HR transformation is on your agenda, then you can’t do it without payroll. Pay isn’t just for payroll specialists. This is for everyone in HR.
What was discussed in the session?
- We explored the top 5 payroll innovations in a post-pandemic world
- Our expert panelists cut through the hype of payroll technology, discussing which new innovations are really making a difference
- Also explored were strategies for gaining complete global oversight and managing multi-country payroll
- The experts also considered how to build your business case for payroll to be a bigger part of digital HR transformation
Global payroll is due a rebrand, from transactional to transformational
A recurring theme from the session, outlined succinctly by industry analyst, George LaRocque, was “Payroll is cool again”.
Our panelists considered that given the huge transformation in HR, it’s only right that the focus comes back to payroll, the bedrock of the HR industry.
You have to get pay right first before an employee will sign up for any sort of reskilling, or learning career path, or to feel engaged… it’s the basic contract that we have with our employees.
So, what’s driven this change? Here are some of the key trends impacting payroll that were discussed in this lively discussion:
- The focus on pay equity and conversations around DE&I
- Move to global work as a result of “work from anywhere” shifts
- Interest in wellbeing tools and the provision of psychologically safe environments
- Provision of different benefits as part of an employee brand/value proposition
One of these topics that the panelists homed in on is the shift to global working. Tara noted that there are nuanced implications and differences between working from anywhere vs. working remotely.
One key takeaway from the conversation was that HR leaders need to understand the difference in remote work vs. working from anywhere. And, in order to keep up with recruitment and the need to expand talent pools by geographies, in the current job market specifically, payroll needs to be set up to manage this and remain compliant across geographies and legislations.
In other words, global payroll is needed more today, than ever before.
Payroll is the source of knowledge
The panelists also discussed the data insights that good payroll technology can offer and the ability it has to stick HR solutions together and to be the one source of truth for workforce data and insights.
The team also went into some top tips for integrating a new payroll solution, from making the business case to getting stakeholder buy-in, to the right questions to ask potential partners and making your choice, up to implementation.
Make sure to watch the on-demand session now, if you’re considering changing up your payroll.
If you enjoyed this session, why not check out more from our partners at Immedis here:
Payroll in a post-pandemic world: We ask the experts at VISA and Pearson
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