Today, enterprises are constantly looking for ways to gain a competitive edge in the market. One important way they can achieve this strategic advantage is by ensuring the well-being of their employees and enhancing their overall experience with the organization. Which is why organizations are investing heavily in employee-centric initiatives. Payroll is one such process that has a significant impact on employee satisfaction. Nothing disengages an employee or degrades an employee’s experience faster than an incorrectly processed payroll.
Further, as payroll is a mission-critical process for organizations to maintain business continuity, over the years, enterprises have endeavored to become more efficient when it comes to payroll, a trend that has been accelerated by the pandemic. As the world begins to return to normalcy, several global enterprises have recognized the need to make their payroll function future-ready by incorporating next-generation technology elements. One way forward to achieve this has been to explore payroll consolidation to reduce risks and tighten control over payroll operations. However, there are several considerations enterprises should keep in mind in their consolidation journey. This paper discusses some of these considerations in brief.
Scope:
All industries and geographies
Contents:
This report studies the following topics
The payroll journey so far
The pandemic and its implications on payroll
The role of next-generation technology in payroll
Key considerations for enterprises when planning consolidation
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 ofthe hour. To support cont…
