[tweetthis remove_twitter_handles=”true” remove_hidden_hashtags=”true” remove_hidden_urls=”true”]Seemingly, we are fast-beginning to see the end of purposed payroll-only software solutions. [/tweetthis]
Consequently, we are seemingly fast-beginning to see the end of purposed (i.e. isolated) payroll-only software solutions. On the rapidly approaching distant horizon, we are already beginning to see suppliers of ‘all-rounder’ HCM solutions claiming the traditional purposed/isolated payroll solution space.
Facilitating technical compliance with the utmost of ease
Nowadays, easily implementable software-development tweaks easily caters for additional HCM parameters to be built into software products. For example, consider your organisation’s ever-increasing need to speedily respond to ever-changing tax-table formulae. In a case such as this, the discerning human capital professional needs to procure a HCM solution that offers the fullest scope for manifold legislative requirements to be amended and managed with the greatest of ease (without experiencing any upgrade downtime either).
Progressive HCM executives (inclusive of their functional management teams) ought to be excellent all-rounders. The HCM function make a truly relevant contribution towards the realisation of line-management’s operational contribution to the organisation. After all, this is what the organisation’s executive management team expects — nothing less.
For example, innovative HCM-solution software allows line-management to authorise all payroll-related documentation. Consequently, in most cases, not only does the line-manager take usual accountability for production processes and outputs, but he/she now also takes a (shared) accountability for the employees working in his/her department.
At Paymaster Payroll, some of our clients (whom we provide our HCM-solution to) are beginning to (confidently) allow their line-mangers to process the full payroll-run for their respective department/s. For example, line-management is empowered with the management of additional cost-incurring overtime hours and takes responsibility for making changes to employees’ basic salary settings. The Paymaster Payroll HCM-solution ingeniously encourages line-management to take empowering accountability for the safe-keeping of relevant documents and files — in an extremely safe, secure and risk-free environment, if the supplementary online cloud-server storage is used.
Additionally, further empowerment of line-management is made possible when, for example, a line manger personally manages the full interview process: from the reviewing of CV’s/resumés, right through to the online cloud-capture of the interviewers’ notes, comments and recommendations.
Thus, as demonstrated in the aforementioned examples, it’s clearly evident that there is no longer any need for the dedicated payroll department to manage these HCM processes. Further, from an auditing control/oversight perspective, at the very end of the ‘production line’, the financial manager simply ‘signs off’ (i.e. approves) the payroll-run. Thus we see that, in this case, a dedicated payroll department is indeed unnecessary.
Distributed accountability through employee self-service tools
It is becoming increasingly popular (and practical) for employees to be entrusted with the accountability of maintaining their own biographical data, submitting and administering (online) their own leave applications (which is also ‘online-authorised’ by their line-manager). Immediately thereafter, all leave records are automatically updated.
By employing this process of ‘distributed accountability’ employees are given access to self-service tools that smartly facilitates the submission of their own overtime claims, …the input of their own subsistence and travel-allowance claims, …and the facilitation of numerous other (ad-hoc) employee-specific claims — all processed via the integrated self-service functionality of progressive HCM-solution software.
Employee self-service tools may also be programmed to allow unrestricted access to an employee’s personal payslip and tax certificate archive — which is (most) conveniently stored on your organisation’s dedicated secure servers, or online in a secure (shared) cloud-server environment.
Easy access to data analysis and exception reporting tools
In the present business-era where real-time decision-making is becoming increasingly necessary and (perhaps even) desired, HCM-solution software must possess a reporting-ability to enable managers (at various levels within the organisation) to instantaneously gain access to meaningful reports that facilitate informed (and accurate) management decisions.
With progressive HCM-solution software, skilled and informed financial mangers no longer require reams of printed documents in order to get a glimpse of what’s happening in his or her department (or within the entire organisation for that matter). With a single login instance, a request for a report, accompanied with the shortest of waiting periods, will allow a comprehensive payroll-run for thousands of employees to be authorised (without worrying that multiple errors may result).
With exception reporting and approval processes, the era of individual-entry verification and interim payroll-run verification checks is fast coming to an end.
Responding to the challenge — prepare for change
Should the reader of this article be suitably convinced that we may well be seeing a future where the dedicated payroll department may well be ‘extinct’ within the next 5 years, here are a few suggestions on how you may respond to the challenge by suitably preparing for imminent change:
— Make a critical analysis of what kind of HCM-solution software that your organisation will need in order to adequately prepare for a future that has no dedicated payroll department.
— As a payroll professional, periodic personal introspection is crucial to your career growth and success within the HCM field of expertise. Constantly consider what new skills you may require in order to remain employable and, (more importantly) to remain relevant once employed.
— From an organisational perspective, adequate training (at various levels) coupled with progressive change-management practices, needs to take place on a regular basis. In this regard, be sure that you do your homework thoroughly.
— Always consider your relevance factor. By setting a time-constraint to your medium-term career planning, constantly assess how you are you going to reinvent yourself (particularly within the next 5 years), in order maintain the highest ‘relevance factor’ that you are capable of.