TECHNOLOGY
Real-time reimbursements Expenses can be reimbursed instantly. Being able to upload expense receipts and have them approved outside of the payroll process means they aren’t bearing the financial strain of covering that cost and having to wait until payday to get their money back. Incentive payments Length of service rewards or performance bonuses can be paid out immediately, boosting employee satisfaction and making it feel like a special event or achievement. These payments can be payrolled afterwards to capture pay as you earn. Overtime / other one-off variable payments Overtime, extra shifts and tips can also be paid out immediately. This benefits employees instantly when they work that bit harder and might need to boost their earnings during periods of financial stress. This isn’t just a gimmick; it’s about empowering employees with choices which align with their lives. While a Gen Z employee may prefer the immediacy of on demand pay via a mobile app, others might favour the stability of a traditional payday schedule. Payroll systems of the future will cater to both preferences, offering flexibility without sacrificing reliability or accuracy. It’s about serving employees with choices which suit them. Enhancing payrollers’ lives For payroll professionals, these advancements are transformative. By automating repetitive tasks like data entry and manual checks, payroll teams can focus on meaningful, high value work. Improved productivity With fewer admin-heavy tasks, teams can process more payrolls with greater efficiency. Enhanced job satisfaction Payroll professionals can use their expertise to solve complex challenges, drive compliance and support strategic decision making. Reduced stress By automating error-prone processes, payroll professionals can work with less pressure and have a more balanced workload throughout the month rather than being
bogged down at month end. This allows a much better work-life balance for a profession that’s traditionally working lots of hours at key times of the month and bank holidays – say goodbye to that stress! This isn’t just about boosting metrics, it’s about making payroll professionals’ lives more enjoyable. They get to do the work they’re passionate about while leaving the tedious, low expertise tasks to automation. So why aren’t we all using AI? The conundrum: fear vs. progress Many organisations remain tethered to legacy systems, outdated technologies which are no longer fit for purpose. These systems often require excessive manual intervention, are prone to errors and they can’t keep pace with the demands of a modern, flexible workforce. Despite the clear advantages of modern payroll systems, many payrollers and organisations hesitate to make the leap. This hesitation often stems from three key fears: Fear of adoption Transitioning to new software can seem daunting. It requires investment, training and a willingness to let go of familiar processes. There’s also a lack of understanding of how AI works and how it enhances compliance without compromising data or increasing risk. Tied to legacy solutions For large organisations, this is a sizeable project which requires an enormous amount of resource to organise. Cost plays a huge factor from a product and resourcing perspective but it’s worth it in the long term. Return on investment isn’t always understood upfront and therefore the cost is the focus instead of the benefits. Fear of job loss The rise of automation can spark concerns payrollers will be replaced by machines. While these fears are understandable, they’re also misplaced. Far from eliminating jobs, advanced payroll technology enhances them. Departments are typically resourced to maintain a steady workflow throughout the month or year. However, payroll operates differently, with effort intensifying significantly at peak times. The stress in payroll doesn’t stem solely from its complexity but from the sheer volume of work combined with that complexity. Many businesses already outsource elements of their payroll process by
offshoring the workload to countries with lower labour costs. A smarter alternative is automation, which keeps control onshore and is less problematic than employing people in other countries. Automation doesn’t replace payroll professionals; it empowers them. It’s like providing each payroll professional with their very own personal assistant. And by removing the drudgery of repetitive tasks, these systems allow payrollers to focus on the strategic, compliance-driven and human aspects of their roles. Reassurance for the brave For those passionate about payroll who are brave enough to step into the now, the rewards are immense:
A better work experience Automation reduces the workload of
laborious tasks, freeing payroll professionals to engage in more meaningful, fulfilling work.
Increased efficiency Modern systems streamline processes, allowing teams to handle higher volumes with greater accuracy and less stress. Enhanced expertise By focussing on complex, high value activities, payrollers can deepen their expertise and make a greater impact. The truth is, clinging to legacy systems doesn’t preserve jobs, it preserves inefficiency. It keeps the industry in the dark ages, riddled with unnecessary work and prone to error. In contrast, embracing modern systems creates opportunities for growth, learning and satisfaction. A brighter future The future of payroll is a better world for everyone involved. Employees gain flexibility, accuracy and support. Organisations see improved compliance and efficiency. And payroll professionals get to do what they love, applying their skills and expertise without being bogged down by repetitive tasks. It’s time to be bold, embrace the tools of the future and lead the payroll industry out of the shadows of the past. Those ready to step into the now will not only find a brighter, more rewarding career, they’ll also help shape the future of payroll. The future of payroll is already here, it’s smarter, faster and more human than ever. The only question is: are you ready to embrace it? n
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| Professional in Payroll, Pensions and Reward |
Issue 109 | April 2025
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