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What does the future hold for the payroll profession?

by | Sep 5, 2024

Payroll
Home 5 Payroll 5 What does the future hold for the payroll profession?

What does the future hold for the payroll profession?

In the latest episode of the HR on the Offensive podcast, Chris is joined by LACE payroll expert Adrian Axtell, along with Bronwynn Gordon, Global Payroll Director, and Claire Findell, VP of People Operations at Sage, to celebrate National Payroll Week. Together, they explore the importance of the payroll profession and dive into its evolution, current challenges and future opportunities.

Many professionals “fall into” payroll rather than choosing it deliberately, but once involved, they develop a strong commitment to the field. This dedication is attributed to the critical nature of payroll work, which directly impacts employees’ lives and necessitates a meticulous, resilient approach. Payroll has evolved from a manual, paper-intensive process to a more automated, technology-driven function. As a result of this evolution, modern payroll professionals need a blend of technical skills, such as data analysis and understanding compliance regulations, and soft skills like problem-solving and empathy.

What is the perception of payroll within organisations?

Adrian notes that payroll is often underappreciated until issues arise, at which point its importance becomes clear. He advocates for greater recognition of the strategic value payroll can provide, especially in data analysis and business insights.

Payroll’s future

Bronwynn and Claire predict that the role of payroll will continue to evolve with advancements in technology like AI and automation. They foresee a growing emphasis on using payroll data for strategic decision-making, enhancing the employee experience, and integrating more closely with other business functions. They encourage payroll professionals to embrace these changes, highlighting the need for ongoing learning and adaptability in the profession.

Listen now as we celebrate National Payroll Week and highlight the essential role payroll professionals play within an organisation.

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