FEATURE
Jerome discussed this with: Gemma Creamer , associate director, payroll executive division at The Portfolio Group Nick Day ACIPP, managing director, JGA Recruitment Group Helen Livesey , senior business director specialising in payroll management, Hays Accountancy and Finance Nick Phillips ChMCIPPdip , service delivery manager – payroll developments, East Midlands Shared Services (EMSS). What can payroll departments do to actively support a ‘grow your own’ strategy? Gemma Creamer: By creating a clear career path supported with paid training courses and options to attend industry webinars and events, a business can attract junior professionals in the market. Nick Day: There are many courses available, such as those provided by the CIPP. However, the key ingredient to a successful ‘grow your own’ strategy is ensuring you provide an environment that makes employees want to commit to your brand. For example, employees are now seeking: ● flexibility ● access to training ● a career development plan ● work-life balance ● competitive remuneration. Employers must invest in more than just training and development plans to develop and retain talent over the long term. Helen Livesey: I believe it’s necessary, and perhaps even a responsibility, to enrol numerically minded apprentices and graduates, to develop their skills and understanding of the industry. There’s still a lack of young professionals entering the profession. This is arguably because those interested in pursuing a finance-based career may opt for a different field, like accounting. To avoid this, education is key. Therefore, it’s pivotal for companies to offer either their own training or CIPP courses to those at the start of their careers, which, in turn, will support a ‘grow your own’ strategy. Nick Phillips: Hallmarks of a successful ‘grow your own’ strategy include collaboration with team members in establishing a realistic career roadmap, with clear milestones. If your pay structure allows, implement career grades that enable fledgling payroll professionals to progress to a higher rate of pay while remaining in the same post (for example, upon completion
likely to leave to go and find a new opportunity elsewhere.
of an apprenticeship qualification). Those entering the workforce from Generation Z have different expectations about how long they’ll wait for pay and progression (hence the proliferation of ‘pay on demand’). Training and development are the other main components of a ‘grow your own’ strategy. I believe the payroll apprenticeship is becoming the industry standard – a qualification developed by payroll professionals for payroll professionals, which has a distributive funding model (the apprenticeship levy) that allows employers of all sizes to participate. Can empowering and developing more junior payroll professionals lead to them leaving to go for a promotion elsewhere? GC: There’s always the risk that staff you develop could leave but, in our experience, if expectations are clear and a career path is set out, employees will remain committed. Reviewing your salaries, benefits package and overall culture will also increase employee loyalty. Employers must invest in more than just training and development plans to develop and retain talent over the long term ND: Of course. However, the reasons people choose to leave are usually more complicated than simply promotion or financial gain. Employees also leave for other reasons such as, but not limited to: ● a lack of flexibility ● feeling undervalued or underappreciated ● a hostile work culture ● a lack of stability ● poor leadership ● having a bad manager. However, candidates are more likely to leave if they feel like their employer is not investing in them. A recent Investors In People study showed that 33% of UK employees leave their job due to a lack of opportunity for career progression. I always advocate empowering and developing employees, because those who feel most valued are the ones least
HL: While in certain instances this may be the case, this shouldn’t mean companies are reluctant to hire junior payroll professionals. An obvious advantage of onboarding a junior staff member is that it’s initially more cost- effective, as someone with limited industry knowledge requires training and coaching, which is considered when listing salaries. However, I believe the most important point to consider is that when a junior payroll professional feels genuinely empowered and continuously developed from a supportive team, they’ll feel more inclined to remain. Taking myself as an example, I’ve been working at Hays for over 21 years, due to the fact my learning and development has been prioritised, and I’m still being offered new opportunities to build on my current understanding of the industry. NP: Yes, that’s always a risk because payroll is an eminently transferable skill. But an organisation that stunts the growth of junior professionals through fear of losing them ultimately does more harm than good to its own prosperity, as well as that of the individual. If the payroll team have embedded a culture where people are allowed to flourish, they’re more likely to attract new talent who can replace those that leave. If no such culture exists, they’ll probably lose those staff anyway to an organisation which has a more forward- thinking approach. How can you attract and retain staff in smaller organisations, where there are less perceived opportunities for progression? GC: The reality is that there can be more scope and opportunity to learn in smaller organisations. Essentially, all roles will need to be cross trained for planned and unplanned absences; therefore, you’re more likely to have exposure to responsibilities outside of your usual remit. In a smaller business, professionals are often naturally developed and can learn more technical knowledge from working next to more senior colleagues, rather than in solely administrative teams. ND: There are many ways to attract and retain staff. Post-pandemic, many employees seek hybrid or remote working arrangements and a better work-life balance. Smaller and more agile companies can often offer flexible arrangements. Additionally, there are many other benefits an employer may now consider to help employees feel valued,
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| Professional in Payroll, Pensions and Reward |
Issue 80 | May 2022
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