The topic of payroll progression was also explored in the survey. ‘Manager’ was cited as the highest level of payroll role within an organisation for most participants ( 54% ), followed by ‘head’ ( 17% ) and ‘director’ ( 14% ). At the bottom of the list were ‘chief payroll officer’ ( 4% ), ‘supervisor’ ( 2% ), ‘coordinator’ ( 1% ) and ‘C-suite’ ( <1% ). Looking at the key skills payroll professionals must hold, legislative knowledge topped the list, noted by nearly all ( 96% ) of those polled. This was closely followed by organisational skills ( 93% ), technical knowledge ( 90% ) and communication skills ( 90% ). Interestingly, industry knowledge was deemed a key skill by fewer than three in five ( 57% ) respondents. When asked how respondents see the role of the payroll professional changing in the future, the feeling was very much that it is always changing due to the constant changes in legislation. Most survey participants highlighted the impact of AI, with the majority believing AI will support and enhance the payroll role. One respondent said: “The role of the payroll professional will evolve to include more strategic responsibilities. With the integration of AI and advanced software, professionals will need to adapt by acquiring new skills in technology and data analysis.” Very few were pessimistic, however, and one respondent said: “The impact of AI may lead to a decrease of payroll roles being offered within organisations in the future; it’s a threat.” Other changes on the horizon include a growing overlap with pensions and HR, more emphasis on qualifications, more complexity due to globalisation requirements and greater recognition for the payroll profession.
WHAT ARE THE KEY SKILLS PAYROLL PROFESSIONALS MUST HOLD?
90% TECHNICAL KNOWLEDGE
96% LEGISLATIVE KNOWLEDGE
57% INDUSTRY KNOWLEDGE
90% COMMUNICATION SKILLS
69% EMPATHY
70% TIMEKEEPING
93% ORGANISATIONAL SKILLS
77% CUSTOMER SKILLS
65% MATHS SKILLS
12% OTHER
In most cases percentages have been rounded to two decimal places for clarity and may not add up to 100%. Graphics may have been rounded to whole percentages.
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FUTURE OF PAYROLL REPORT 2024
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