REWARD
Payroll’s practical role in delivering employee rewards and well-being
Jerome Smail, business journalist , engages with a teamof experts to explore whether payroll should extend its role to advise and drive change in relation to employee rewards andwell-being
T he remit of payroll professionals has grown extensively over recent years. This is apparent in many areas, not least the increasing extent to which payroll is playing a practical role in delivering employee rewards and well-being. However, grey areas exist, and many professionals in the industry might ask how payroll should go about extending its role in this area, and how can the function be proactive, advise and drive change? To find out, I sought counsel from some leading luminaries in the field: ● Eira Hammond ChFCIPPdip , head of payroll, Hi Group ● Ian Hodson MSc ChFCIPPdip , head of reward, University of Lincoln ● Simon Juffs , corporate business development manager, Radiant Corporate Benefits ● Glyn King , group managing director, Datagraphic. How can, and should, payroll extend its role, be proactive, advise and drive change in the field of rewards and well-being? Eira Hammond: It is important to understand what motivates employees
when considering implementing a reward or well-being package. For example, there’s no point in offering the option to purchase extra holiday if it is difficult for employees to take leave due to staff shortages. Performing surveys and understanding what type of benefits would motivate your employees is relatively simple to do, and the resulting employee well-being package could have the potential to retain current staff and attract new talent, enhance employee well-being, improve productivity and reduce absenteeism. Even if reward as such is not formally part of the payroll professional’s role, it is important they keep up to date and aware Performing surveys and understanding what type of benets would motivate your employees is relatively simple to do...
of all the options available when it comes to reward and well-being, processing them through payroll effectively and efficiently to remain compliant. This will also ensure their company is making the most of all employee benefits available to support their employees in the best possible way. Ian Hodson: There are many additional benefits for which a company can use the workforce size to negotiate discounted rates. They can be operated through deductions via payroll at source, whether this be cycles, gym, health plans or insurances, which means payroll is intrinsic. There are also aspects of financial well-being, like short-term loans, where deductions direct from payroll and a lower likelihood of someone defaulting on repayment, means a guaranteed lower interest rate. For any other employee benefits, the operational involvement of payroll makes sense, as an extension to its service of efficiently resolving queries. It is also a respected voice in communications which could help to promote the offering. Strategically, as we see a growing need to make the employee offering attractive, displaying an ethical approach to well- being and a culture that is engaging,
| Professional in Payroll, Pensions and Reward | November 2021 | Issue 75 36
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