In recent years, the HR function has been making technology-related investments in payroll, a business-critical process for organizations of any size. The COVID-19 pandemic threatened to disrupt this function in early 2020, with market stakeholders scrambling to move their operations to the Work From Home (WFH) setting and run their payroll activities smoothly.
The COVID-19-induced crisis and its impact have paved the way for Payroll 4.0 – the next generation of the payroll function that will make payroll more aligned with business objectives and the new work environment. Most industry stakeholders now realize that investments in payroll transformation are no longer an option and require resolute focus.
Scope
Function: payroll outsourcing
All geographies and industries
Contents
In this research, we explore the key levers of payroll transformation and examine how they could shape the industry. In particular, we explore the value propositions, key levers, and implications of the next-generation of payroll outsourcing – Payroll 4.0
Payroll is an important touchpoint in the employee life cycle, as nothing disengages an employee more than a delayed or incorrectly processed salary. Thus, adopting a more strategic approach to payroll has become the need of the hour. To support cont…
