Payroll & Reward

The words Payroll and Change don’t always sit together comfortably. In fact, for most people, terms like Safe, Risk-averse, Traditional, or Stable fit better with Payroll. This is correct as Payroll isn’t something to mess around with is it? Payroll exists to pay employees accruately & on time. This is why payroll can feel left behind in the race for technology & change.

Explore the pros and cons of a market-led reward approach and how organisations can combine it with performance-based pay for a balanced strategy.

A debate over whether reward should be based on employee performance or driven by wider market or a combination of the two.

In a world of ever evolving technical advancement, it could be said that payroll has been somewhat slow in adopting the on-demand needs of the increasingly tech-savvy workforce.

Most Human Resources departments work to maximise the bottom line of organisations, many HR professionals tackle this objective by focusing primarily on corporate health and wellness. The thinking here is fairly simple – if you can build a healthier workforce, they’re likely to be more productive each day, which ultimately translates to a more profitable business.

On 6th February at Hilton Park Lane in London, we joined HR and payroll professionals from across the globe for the SD Worx European Conference 2018. With the "Future of Collaboration: HR leading the way" theme, this one-of-a-kind event played host to industry-leading experts, practitioners and organisations.

“Improved productivity” heads the list of the top ten benefits of working from home according to a recent survey by SD Worx UK & Ireland, one of the largest payroll providers in Europe.

Millennials: entitled, lazy job hoppers. Gen X: cynical and poor team players. Baby Boomers: out of touch, independent, money-driven workaholics. And what about the iGen: those house-bound, tech-obsessed kids who were born with a smartphone in their hand?

Sitting at my computer at the start of the work day on February 6th was simultaneously the most disappointing and demotivating start to a work day I have ever had - which probably says a lot. I was missing out on one of the biggest events in HR and Payroll, and my wife and I were 6 days overdue. I was missing one party, and our baby was late for the other!

Technology is the wheel that never stops turning. If Moore’s Law is to be believed, the sheer power of processing units will have doubled within two years – and that means plenty of new pieces of tech that could shake up HR and payroll processes.

With the aim to build a model employee experience, HR departments are compelled to rewrite the rules by revolutionising talent practices. Human resource management is designed to maximise staff performance, and the HR department should be a key component in an organisation’s digital transformation.

This article is intended to give a balanced view of payroll software versus payroll services. In the UK, the markets for payroll software and service co-exist and will continue to do so for the foreseeable future.