FUTURE OF PAYROLL SURVEY REPORT 2020
Whilst the Covid-19 pandemic has accelerated some of the changes to the payroll profession, it is fair to say that it has not changed the direction of change we were already seeing.
Payroll continues to be an ever-changing profession, with legislation and technology changing continually. Software developments will support payroll professionals who embrace them to automate some of the more transactional aspects of the role, enabling them to focus on the more strategic and human elements of payroll. Those working within the industry recognise that their roles are requiring skills in areas such as leadership, technological skills related to automating workflows and remote working. Skills which may not have been considered five years ago but are the main areas of development during 2020. It is evident that there is a future for payroll and that it is directly linked to the future of work. Different generations bring new ideas on what they want from their pay and work-life balance to those before them. Pay transparency and pay on demand are topics which are generating a lot of debate and discussion, providing food for thought for those within the industry.
Payroll has always been, and will continue to be, agile and adaptable to change. Something which we have seen more during the Covid-19 pandemic, and will continue to see into the future of payroll.
It was Charles Darwin who said:
“It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one most adaptable to change.”
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