The HR and payroll industry never stands still and is moving at a faster pace than ever. With frequent updates to legislation, increasingly global operations and swiftly developing new technologies, the future of HR is set to look completely different to the industry of today.
Ensuring payroll is accurate and runs on time at the end of each month is certainly a vital part of the HR professional’s job, but so is preparing for the future – but what does that involve? Are you aware the new laws and legislations on the horizon that will affect how your organization’s payroll operates? Are you prepared to adopt the technology set to revolutionize your processes? Are you ready for the future of HR?
Although technology has already been widely adopted by the HR and payroll industry, there is still plenty room for improvement as new technology continues to advance. From the automation of mundane back office tasks to digital assistants, technology helps HR and payroll teams to focus on the ‘human’ tasks, and readdresses work-life balance.
With technology and humans working alongside each other—each doing what they do best—the HR and payroll department can become much more efficient, also reducing the risk of human error.
When it comes to the future of HR, technology should be steadily integrated into HR and payroll teams, with employees offered training to help with seamless adoption.
As the world becomes more conscious of the value of personal data and how organizations handle it, rules and regulations are constantly being updated and improved. The risks of non-compliance are significant, with news of data breaches causing global brand damage for some organizations, such as Facebook and British Airways, not to mention the significant fines in store for those that break the law.
In this environment, it is more important than ever to keep on top of the recent developments in international legislation, as it could completely revolutionise how your organization, and specifically the payroll department, handles its data. Just a handful of recent examples include:
The future of HR is bright when it comes to improving laws and legislations for both employees and customers. However, for organizations to thrive in this environment, HR and payroll departments need to take extra care to keep up with advancements in 2019.
As recently discussed by the Payroll Services Alliance, partnerships in payroll are flourishing. Rather than relying on disparate local systems, embracing international or global partnerships allows for expert payroll coverage.
Organizations no longer need a single, stock offering for payroll. Flexibility—when it comes to the future of HR—is key. Payroll partnerships offer strength in numbers by combining local and global offerings for organizations around the world.