FUTURE OF PAYROLL REPORT
THE PAYROLL DEPARTMENT IS FUNDAMENTALLY LINKED TO THE OVERALL BUSINESS AND
There are individuals who have started their working career in payroll that now sit on boards of directors but no longer have payroll within their title and their remit widens to include learning and development, reward and operations. This supports the findings from the survey that payroll sits within finance or HR departments and that, by the time payroll is represented at board level it is through the finance or HR department. It also strengthens the CIPPs argument to ensure that payroll professionals are upskilling to include business management and understanding as part of their role. The payroll department is fundamentally linked to the overall business and this is supported through findings within this report which demonstrate that the key areas of focus for payroll are the same as the overall focus areas for business. Payroll professionals are involved in key projects within the business, such as software implementation projects to improve efficiencies and effectiveness. A discussed we have gender pay gap reporting and GDPR, both major legislative changes which require reviews of business processes, also providing the opportunity to improve efficiencies and effectiveness.
THIS IS SUPPORTED THROUGH FINDINGS WITHIN THIS REPORT WHICH DEMONSTRATE THAT THE KEY AREAS OF FOCUS FOR PAYROLL ARE THE SAME AS THE OVERALL FOCUS AREAS FOR BUSINESS.
These are some of the main reasons why payroll professionals should be aspiring to positions within the organisation which will enable them to utilise their skills, whilst demonstrating the fundamental and strategic value of payroll. Not only as an employee motivation and engagement tool, which will provide a business with increased standards and profitability, but also as payroll is the one with their finger on the pulse of legislative change; the financial and reputational damage that can come from non-compliance is a major threat to business.
Does payroll contribute to organisations goals? Whilst respondents may not view payroll as a strategic function, it is encouraging to see that 79% view payroll as having an impact on the organisations overall goals. However, less encouraging is that less than half (47%) believe that senior management share this view. Payroll professionals, with the support of the CIPP, have a role to play in changing management perception towards the payroll function.
79% Yes
15% No
Payroll impacts every aspect of a business as it directly impacts the motivation of employees. Individuals within payroll departments can be more proactive in providing the regulatory information on areas which could support business decisions, such as: l Flexible benefits, a powerful way of increasing employees’ engagement and perceived value of their benefit package l Flexible working
l Shared parental leave and pay l Gender diversity and equality
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CIPP AND WORKDAY
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