MY CIPP
The CIPP’s Foundations of Payroll Analytics Course
Fiona Smith MCIPPdip, CIPP payroll training manager, provides an overview of this unique training course which considers how adopting an analytical approach to payroll can help wider organisational growth and efficiency
Q: Talk to us about what payroll analytics is and what it means. Besides being one of the largest expenses for any business, the payroll department also holds a great deal of operational information. Payroll analytics is about looking at this data and identifying patterns and trends which can be used to inform key business decisions. Imagine being able to provide a dashboard with up-to-date information on turnover, overtime and budget information for key departments, or being able to identify interventions based on payroll data, which reduces the risk of overpayment or turnover. Adopting an analytical approach within a payroll function not only helps to minimise errors and fraud but can also support better forecasting and financial management, ultimately contributing to an organisation's growth and efficiency. Q: What will the course teach delegates about? The course covers how payroll data can be used to drive process improvement, reduce costs and ensure compliance. Delegates will learn how to leverage data to inform decision making, identify areas of opportunity and anticipate / address risks. Ultimately, it’s about harnessing data to demonstrate payroll's value as a key business partner. After completing the course, delegates will be familiar with: l types of business analytics and methodologies l how to overcome barriers to using analytics l ways of using analytics to detect and prevent payroll fraud l constructing a step-by-step benchmarking plan l demonstrating the value of payroll analytics to an organisation.
Q: The course is made up of six half-day sessions. How is the material covered spread across those periods? The content is broken into nine modules: l what are analytics? l data maturity l payroll data l using graphics to communicate analytics l using analytics to detect and prevent payroll fraud l using metrics to monitor the payroll operation l using analytics to improve the payroll operation l using payroll analytics to improve the organisation l incorporating payroll analytics. Every module has its own learning objectives, as well as knowledge checks and practical exercises, allowing delegates to practise with demonstration data. The modules vary in size, but the half-day sessions will generally cover one to two of these modules flexibly across the six sessions. The sessions are scheduled over two weeks and begin at 1pm each day. Q: How can the content delivered in the course benefit wider organisations, outside of payroll? Refining the information provided to key decision makers can have a positive impact on many areas of a business. In a similar vein, not having access to clear and current information may delay decisions or cause poor decisions. Without giving too much away, the course looks at areas in which payroll analytics can provide benefits to an organisation, including the following: Supporting the organisation’s mission statement Through turnover data or other metrics,
using payroll analytics can demonstrate the impact of the organisation's mission statement or values on the results within the organisation. Using analytics in effective decision making Making well-supported decisions based on real payroll data means that the outcome is more likely to be successful and sustained. Analytical awareness through graphics Displaying key payroll data through dashboards can allow timely responses, preventing or mitigating issues before they arise. Efficiencies using analytics Analytics can help organisations monitor performance and measure the impact of their decisions to become more effective and efficient. Q: This all sounds amazing. Do delegates need to undertake any study prior to this course to prepare for it? There’s no specific mandatory prior learning. However, the payroll analytics training will delve into a broad range of payroll elements. To make the most out of the learning experience, I would suggest that delegates have a basic familiarity with the systems used to operate their payroll, along with an understanding of any unique business processes and key performance indicators within the organisation. Having a working knowledge of Excel or other spreadsheet software would also be beneficial for this course. n You can see the upcoming dates for the Foundations of Payroll Analytics course and book your place here: https://ow.ly/MuPz50RvvxI .
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| Professional in Payroll, Pensions and Reward |
Issue 101 | June 2024
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