REWARD
Developing skills and seeking opportunities in the payroll world
Qualifications or experience? The debate over which holds the most value punctuates recruitment and career development discussions across practically every industry. Here, Maria Mason MCIPPdip, partner, BDO UK LLP, explores how this ongoing debate unfolds specifically within the payroll industry
P ayroll professionals have access to many industry-recognised, specialist qualifications and to high quality training. Over the last decade, we’ve seen a sharp rise in the profile of the payroll function and we’ve established clear career pathways, taking individuals from trainee level all the way through to positions in senior leadership. With these developments, the debate over experience versus education is becoming a growing consideration for the payroll function, influencing both hiring managers building teams and professionals looking to progress a lasting career in payroll. There’s no substitute for experience We know that practical knowledge gained on the job, through success and error, is a critical component of every payroll professional’s toolkit. There are many highly regarded payroll professionals who have advanced outstanding careers without undertaking payroll-specific qualifications. Experience is pivotal in: l honing problem solving and decision- making skills l developing technical expertise
l providing exposure to systems and tools which are pivotal in delivering accurate, timely payroll. “Holding a qualification also
nature of the businesses we operate in directly influences the size and scope of the payrolls we’re exposed to and our opportunities to work on more varied and complex elements of payroll processing, such as Bacs, pensions and reporting to HM Revenue and Customs. Additionally, the size and structure of an organisation has an impact on the career development and progression opportunities available to us. Nevertheless, exposure to the varied and complex elements of payroll delivery will always be an invaluable and indispensable part of building a career in payroll, and there’s certainly no substitute. The business landscape is shifting Many organisations are turning their attention towards addressing a plethora of business challenges – some well- established, others new and emerging. Environmental, societal and governance (ESG) factors and sustainability, workforce resilience, digital transformation and evolving risk considerations all impact the way businesses operate and how they’ll continue to do so for the foreseeable future. As the custodians of a wealth of
carries wider employability benefits for the individual”
For individuals working as part of an in-house team, experience in-post provides an opportunity to grow a strong understanding of the business’s strategy and objectives, and how payroll supports this. For those working in a bureau environment, experience can provide an opportunity to develop important skillsets outside of payroll processing, such as: l account management l client relationship management l project management l advisory provision l technology selection l implementation. Naturally, there are limits to how far experience can take us. The size and
| Professional in Payroll, Pensions and Reward | June 2024 | Issue 101 38
Made with FlippingBook - Online magazine maker