There have been many publications about the Good Work Plan over the past 18 months and it can be confusing to work through complex, legislative documentation to understand how you stay compliant. While the good work plan covers many topics, this blog aims to take you through one aspect of this, Holiday Pay, and asks the simple question – are you ready for the changes?
Until recently, payroll has not been given high strategic importance and so has never needed to be particularly innovative. The modern, fast-evolving workforce is now driving significant changes to this status quo however, with both managers and employees looking to embrace disruptive technology that helps the business to innovate and transform.
Our recent report looking at The Workforce of the Future reveals enlightening predictions from senior industry professionals on the social and economic shifts organisations will need to embrace by 2025.
Senior professionals predict major changes to the workforce by 2025. According to our research The Workforce of the Future, working part-time, freelance or being able to choose hours/days will be favoured over traditional working styles. Employees will expect more support and advice on financial matters, and Payroll and HR will align more closely to provide this. Payroll will become much more influential in attracting and retaining employees. As a result, 78% of professionals say that payroll needs to evolve and innovate, and technology will be key.
Misconceptions around payroll outsourcing could be holding back your business. Our clients find that taking the step to outsource pays them back dividends, driving productivity and giving payroll teams the opportunity to focus on strategic rather than tactical initiatives. We understand that payroll outsourcing can be a daunting topic, so we have debunked some of the most common myths to help you make informed choices about your payroll strategy.