Top Payroll Trends of 2014
To those who work outside of payroll, the job appears simple enough. But how do we find the time to invest in adding greater value to the business while ensuring the delivery of an on-time and accurate payroll? More often than not, an on-time and accurate payroll is not the only demand on the Payroll Department. At the end of the day, there is a long list of projects that the organization would like Payroll to tackle, such as compiling special management reports or supporting a HR initiative, which helps shift the payroll function towards one that delivers broader strategic value to the business. In recent years, payroll has seen the rise ofhighly-effective solutions that are completely changing the way we think about payroll, and what we expect from it. The National Academy of Health and Business has published a great blog on Top Payroll Trends of 2014. Check it out!
“Companies have been running paperless payroll for many years, but there is more than meets the eye when it comes to this fast growing trend. In fact, paperless payroll has become the terrific and highly efficient means for delivery and accessing paychecks and reports for employers and employees, and is expected to continue to grow in 2014. The first step towards a paperless payroll system was direct deposit, though that left unbanked employees still needing a paper paycheck. Paystubs were typically still provided in paper form, even for those choosing direct deposit.”