REWARD
The future’s bright, the future’s payroll Jake Shergold MCIPPdip, payroll manager at Sovereign, discusses what will be expected of payroll professionals of the future, and how they must adapt to the world around them
T he payroll profession is a developments in technology and the ever- changing world of government legislation to consider, along with the fact employers are overhauling their reward and compensation packages, to stay attractive in a highly competitive recruitment market. very challenging and exciting area to work in, especially at present. There are significant As a profession, we’re always looking forward and planning. It’s in our nature, and an important trait which ensures we stay knowledgeable and compliant. So, to look forward and anticipate change, to plan for the next two, three or even five years, wouldn’t be out of the norm. The speed of change we experienced during the pandemic through complex new legislation, and new remote working practices, while dealing with the impact on our own personal lives of something completely alien to us, demonstrated our ability to adjust, evolve and be agile to ensure employees were still paid with minimal disruption. In doing so, this threw the profession into the limelight of not just the public, but also our organisations and clients. It’s hard to predict where we will be in five years’ time, but one thing for certain is that technology will continue to change our profession drastically. Technology is streamlining our processes more and more, with data automation, computer learning, process schedules, self-service and even chatbots to name a few. This is all being supported by investments from organisations looking to use systems to reduce headcount and improve productivity during financially challenging times. These developments
are arguably good as they remove the laborious and mundane tasks we spend so much time completing, which are also some of those most prone to human error. Automating these processes reduces the risk of error and allows us to make better use of our time, through extended data validation, reviewing processes, improving the customer experience and being more involved in corporate strategy.
opportunities and gradually progress over the years into specialist leadership roles. Personally, I started my career as a temporary payroll administrator for an National Health Services service provider, before progressing and expanding my working knowledge while completing supporting qualifications. This progression route is a core development, as it lays the foundation of the basics of the payroll process, how we accept, validate and process our data to achieve our core functions and output – paying employees. With technology removing these processes, will there still be opportunities for people to fall into the profession? Payroll roles will have greater requirements moving forward, the technical subject knowledge often now including some level of pensions and reward, project management, technology systems and a seat at the strategic table. The growing complexities of the payroll role Adding to this is the growing concept of hiring talent from anywhere in the world. Overseas workers are not new to the profession, but the growing numbers of small and medium-sized enterprise companies who are looking beyond their domestic borders for new markets and talent adds to the complexities and specialist roles that payroll will have and need. Not only are there the tax implications associated with overseas workers, but there are the cultural differences, the varying time zones and the local employment laws. The domestic payroll professional is now more likely to be exposed to overseas workers.
As a profession, we’re always looking forward and planning
How do people begin their careers in payroll? When I speak with colleagues and peers in payroll, we often discuss how we started our careers in the profession. Most have the same answer, ‘I simply fell into it by chance and never left’. Although I do wonder how many people fell into the profession and quickly left afterwards. The individuals that have made a career of payroll are some of the most knowledgeable and experienced I’ve met, because they’ve built up their knowledge and experience by working at all levels and in all roles over a number of years. They have an unwavering passion and drive. The roles that people fall into often involve data entry on a temporary basis, to cover someone on leave, or to provide extra support during a busy period. This role would often then develop into other
| Professional in Payroll, Pensions and Reward | October 2022 | Issue 84 38
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