REWARD
- GLOBAL PAYROLL -
Attracting the next generation of payroll professionals
Michael Francis CPP, Director of Global Payroll, SBA Communications, explains why it’s our duty to attract younger generations to the payroll industry now*
T he reality of our changing workforce landscape is that Millennials and Gen Zers now outnumber Gen X and Baby Boomers. With this trend, organisations face a pressing challenge: attracting and retaining younger generations in specialised fields like payroll. With the youngest Baby Boomers retiring in large numbers, and the oldest members of Gen X less than a decade away from retirement as well, a significant knowledge gap looms on the horizon. It’s imperative for payroll leaders to adapt strategies which appeal to these younger cohorts to ensure the profession’s sustainability. A personal reflection on the payroll journey Over my 20 years in the payroll and human capital management fields, I’ve witnessed firsthand the evolution of our profession. From leading global implementations to streamlining operations across industries like technology, oil / gas and consumer goods, my journey has been fuelled by a deep passion for payroll. I’ve had the privilege of managing teams, leveraging cutting-edge technologies and driving initiatives that not only improved efficiency but also saved organisations millions in costs. But with each milestone achieved, a growing concern has taken root. As seasoned professionals retire, who will carry the torch? The wealth of knowledge and expertise amassed over decades is at risk of fading away unless we actively cultivate the next generation of payroll professionals. I’m deeply committed to leaving a legacy – a pipeline of dedicated,
“The wealth of knowledge and expertise amassed over decades is at risk of fading away unless we actively cultivate the next generation of payroll professionals”
skilled individuals who are as passionate about payroll as we are.
consider when growing the talent pool include the following: Flexibility Remote work options, flexible schedules and a healthy work-life balance are non-negotiable. Technological innovation Roles which leverage the latest technologies, such as artificial intelligence, automation and data analytics are attractive. Growth opportunities Continuous learning and clear career progression paths are essential. Ethical practices Organisations with strong corporate social responsibility and sustainability initiatives are more appealing. Strategies for engagement and attraction Strategies to attract and retain younger talent include the following: Modernise the perception of payroll Shift the narrative from payroll being purely transactional, and instead highlight its strategic importance in organisational success, employee wellbeing and compliance.
Understanding the workforce shift By the end of 2025, Millennials and Gen Z will make up 75% of the workforce. This demographic shift has profound implications for the payroll profession which bears repeating. Knowledge drain from the retirement of experienced payroll professionals threatens to create a talent gap, risking the loss of invaluable industry knowledge and opening organisations to potential regulatory risk. There’s also the risk of labour shortages. As senior professionals exit, the shortage of skilled workers in payroll could intensify, impacting compliance and operational efficiency. Lastly, the younger generations seek purposeful roles, flexibility and technology-driven environments, which may not align with traditional perceptions of payroll (for example, changes in expectations when it comes to careers). Key motivators for next gen talent To attract and retain younger talent, it’s crucial to understand what drives them. Some key points payroll leaders and hiring managers must
| Professional in Payroll, Pensions and Reward | October 2025 | Issue 114 44
Made with FlippingBook - Online magazine maker