COMPLIANCE
Payroll in a crisis – four steps to avoid panic
RobGimes, head of payroll product, CoreHR (an Access Group company), discusses the impact of the emergency and outlines steps payroll can take
W eek one of lockdown was for me a mix of uncertainty and sleepless nights. You too, I imagine? But in payroll, none of us had time to sit for long. Getting to grips with the multiple elements of new home and work life has been keeping us all busy, not to mention the priority that many reading this will have to manage pay for tens and perhaps even hundreds of thousands of people. Although the challenges we are all facing are unprecedented, payroll professionals are a smart and adaptable group. We are used to planning for change and right now we are getting to grips – at least for the most part – with getting
everyone paid properly on time and by the new rules. The big challenge for payroll is not so much in understanding the new legislation, which continues to evolve but has started to become clearer, it’s in interpreting how that legislation affects your business and in amending your systems and processes so you can effectively comply. Factors to be considered in payroll’s response are wide-ranging. Maybe you manage payments across several countries or regions and need to comply with differing legislation. You’ll also have to consider wider factors such as the financial stability of your organisation, the business continuity and people policy decisions that
management are making, and much more. And on top of that, no doubt your payroll team are no longer in the office, and so you’ve also had to consider how your team executes a payroll run while working from home – and do it securely and in compliance with legislation including the General Data Protection Regulation. Whatever your situation, it is likely by now that a response has been required from your team and you have risen to the challenge. Having coped with our first few payroll runs under lockdown, we must now plan for the coming weeks and months, as the duration of this ‘new normal’ is becoming apparent. With this in mind, here are four practical steps you can take now to get your organisation in position for navigating the next chapter. Build your knowledge Local jurisdictions are releasing legislative updates almost daily. Check regularly with
...the challenges we are all facing are unprecedented, payroll professionals are a smart and adaptable group...
| Professional in Payroll, Pensions and Reward | May 2020 | Issue 60 34
Made with FlippingBook - Online magazine maker