The workplace has adapted at an unprecedented pace in response to the COVID-19 pandemic. The unplanned shift from physical collaboration to mostly online has challenged both mindsets and processes. Some argue that the workplace will never revert, so managers and HR leaders need a mid to long-term strategy to connect the remote workforce effectively.

This blog explores the challenges and opportunities of virtual collaboration and how to optimise working methods to meet business and well-being objectives.

When the Covid-19 lockdown began, The Economist claimed this pandemic would thrust HR and its leaders into the spotlight. It suggested chief people officers would need to play a role similar to that of the CFO following the financial crisis of 2007-2009. “Never before have more firms needed a hard-headed HR boss,” it stated.

The government has announced the launch of policies and measures to protect jobs where businesses are facing lower demand over the winter months due to the Covid-19 pandemic.

It’s estimated that the pace of digital change within businesses has been accelerated by about six years as a result of the Covid-19 pandemic. Where barriers to digital transformation previously existed – be that a reluctance to abandon legacy systems or a lack of support at board level – the necessity to react to the challenges of lockdown have broken these down. 

Hiring new recruits is a costly business. Just how much depends on the role, but according to Glassdoor the average cost per hire is £3,000.

Whether big or small, any restart will be an opportunity to fix a few things. However, a reset is much more than that – it’s an incredible catalyst.

As a leader in payroll and/or finance, you know that payroll is subject to HMRC rules that are complex and changeable. If your payroll system has gaps or vulnerabilities or is not as transparent as it should be, the penalties are high - in terms of cost, stress and reputation.

Many businesses remain unaware of the benefits of outsourcing payroll. Finance and payroll managers often believe that an in-house team, or one person doing everything, cuts costs and retains control. In reality, it’s likely to end up costing more, slow digital transformation and impact business continuity.

The role of the modern finance leader is much more than just assessing financial performance and monitoring cashflow. Nowadays, a good financial leader takes stock of the whole organisation to make sure every aspect is aligned to business goals.

Payroll fraud is often overlooked, but it costs UK businesses £12 billion a year, alongside familiar frauds like insurance, tax and identity theft.

The impact of the global coronavirus pandemic has forced finance leaders to do the impossible; maintain stability in a chaotic environment.

Furlough advice: Debunking salary sacrifice and benefits in kind myths