Here are the latest payroll trends:
Datification: people practices versus HR practices
Monitoring, measuring, and managing. A new phase of employee administration is on the rise with HR practitioners honing in on every detail of employee’s productivity and performance. This is based on the drive towards data-driven people decisions that drive a higher quality of recruitment, leadership, and lower employee turnover. As forward-thinking as this sounds, how do companies keep up with and maintain this type of granular monitoring on their employees? The best way in which to do so is through the implementation of compressive productivity trackers and time management programmes that allow HR practitioners to zoom into the every-day activity of employees.
HR and payroll: focus on integration
In order to ensure efficient payroll processes, it is imperative to ensure that all payroll processes are integrated. This will ensure better control over data privacy, and will ensure that HR practitioners are able to perform the appropriate checks and balances. Integration also decreases the risk of non-compliance and unnecessary labour costs. The best way to integrate payroll processes is to invest in a secure, reliable, and high-quality payroll solution that can be customised and tailored to suit specific business needs.
Self-service portals & Mobile payroll
Already making an appearance in forward-thinking organisations, mobile payroll and self-service portals are quickly becoming the most convenient and efficient ways in which to minimise administration costs and boost convenience. With more than 1.75 billion global smartphone users, it would be ridiculous for organisations to not consider this route. It is important to remember that, once a business opens itself up to the world of mobile optimisation, the possibilities are endless. Embracing mobile payroll and self-service portals will also eliminate the high-volume of paper that HR practitioners and paper-based organisations use on an annual basis.
In essence, it is important to think of better ways in which to improve strategic thinking and overall productivity levels. Not only will a shift in focus assist allow organisations to focus on what’s important – innovation and client services – but it will also assist in strategic adjustments within teams and staff components. By eliminating the need for high levels of administration on HR practices, organisations will be able to better allocate various resources to other teams. In the same breath, the expenditure on HR practices will decline, which translates into more capital to improve on general business practices.
If you’re looking to improve on your HR practices and take your payroll processes into the future, contact us today.