Tag Archives: Payroll

Future-Proof Payroll

Global Payroll

New research finds organizations are moving to cloud-based platforms for global and compliance capabilities.

By Pete Tiliakos

Payroll transformation has become a priority for many organizations, finds NelsonHall’s annual Next Generation Payroll Services study. Historically, payroll has long been treated as a simple cost center, and frankly, many payroll departments have gotten by with disparate and outdated—albeit reliable—platforms that lack global reporting capabilities and require burdensome manual processes. And in some cases, payroll has been overlooked when it comes to allocating funding to improve the operating model.

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CEO’s Letter: CHRO Compensation – What Drives the Market for HR Talent

HRO Today

By Elliot H. Clark

I live in Philadelphia and I remember the media hullabaloo about the compensation paid to the baseball star Bryce Harper to join the local team. As one grave-faced sportscaster put it, “Well, there is a market value to talent—this franchise just got the bill.” I decided two things right at that moment: First was to never take market economics lessons from a guy who reads game scores for a living, and second was to see if the research team at HRO Today could figure out what drives the salaries for top executives in human resources. You will find the summary report in our upcoming second annual CHRO Today special edition (published with October), but I thought I would give you a few highlights.

We pulled the publicly available data on the Fortune 500 and found the CHRO compensation data on 88 senior-level HR executives from those companies. With a sample size of nearly 18 percent, we felt we had enough data to do a very valid market analysis. We split the market into the Fortune 50, the Fortune 100, Fortune 200, and Fortune 500 bands. We also looked at correlations to salary, total cash compensation, and total non-cash compensation (stock options and grants).

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On Time, On Budget

Payroll

Implement these seven best practices to improve the quality and accuracy of the payroll process.

By Imran Sajid

It has always been important to pay employees in a timely and accurate manner. Being one day late or 99 percent accurate isn’t good enough. With the world more connected and impatient than ever before, it is critical for successful organizations to pay people accurately and on time. In the digital age, issues that previously stayed behind closed doors are visible for the entire world to read about, which can result in serious ramifications. The last thing HR professionals want is employees and former employees submitting Glassdoor reviews about how their organization consistently made mistakes on payday. The value of a brand is very significant and any loss of business reputation can be costly.

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Achieving Payroll Globalisation

Global Payroll

Payroll complexity remains a major challenge for multinational companies expanding into new international markets.

By Marta Chmielowicz

Payroll today is about much more than just paying employees. It is about ensuring that their personal data remains secure whilst navigating ever-shifting legislation and privacy regulations, unstandardised solutions, changes in workforce structures, and rapidly advancing technologies. And when international operations are added into the mix, the complexity of payroll can seem even more overwhelming. In fact, according to NGA Human Resources’ 2017 Global Payroll Complexity Index, the only constant in global payroll is constant change.

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Achieving Payroll Globalization

Payroll

Payroll complexity remains a major challenge for multinational companies expanding into new international markets.

By Marta Chmielowicz

Payroll today is about much more than just paying employees. It is about ensuring that their personal data remains secure while navigating ever-shifting legislation and privacy regulations, unstandardized solutions, changes in workforce structures, and rapidly advancing technologies. And when international operations are added into the mix, the complexity of payroll can seem even more overwhelming. In fact, according to NGA Human Resources’ 2017 Global Payroll Complexity Index, the only constant in global payroll is constant change.

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On a Roll

Payroll Delivery

Recent research shows the payroll market continues to grow, driven by technology and global reach.

By Gary Bragar

NelsonHall’s most recent Payroll Market Analysis shows the global payroll services market is estimated at $18.1 billon with a 4.1 percent annual growth rate. The multi-country payroll market is growing at nearly two times the rate of the overall market, representing nearly 17 percent of total standalone payroll service revenues.

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Refining Compensation

Compensation

In order to remain competitive, organizations need to build strategy around their pay practices.

By Wendy Brown

2017 was a year of transformation for compensation practices. More and more states banned the salary history question, pay equity laws became more prevalent, and major tax reform bills threw payroll into disarray. With the unemployment rate at historic lows, employees gained many more options when it came to employment opportunities.

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Safe and Secure

Payroll Security

When it comes to payroll security, decreasing risk is worth the reward.

By Debbie Bolla

The 2017 Equifax data breach was a strong reminder to organizations that personal information can never be too secure. This is especially true when it comes employee payroll data. That’s why it is more important than ever for HR to be proactively and strategically ensuring that employee payroll data is secure.

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Innovation Ahead

HR Innovation

HR can expect transformation in every sector in 2018.

By Amy L. Gurchensky

HR partnerships and engagements have remained in a stable state of predictability for years, but changes within the business landscape are now occurring at an increasingly accelerated pace. Organizations are experiencing industrywide transformation, and HR services are being forced to respond. This reaction is yielding great innovation which is happening at a fast rate. This is also driving the need for transparency and investments in technology across all HR functions.

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Multi-Country Contracts Leading the Pack

bragarrennieWhy payroll outsourcing continues to thrive.

By Gary Bragar and Liz Rennie

Not only did payroll outsourcing gain new clients during the recession, but 2013 saw payroll outsourcing’s highest growth in six years, led by client demand for multi-country payroll.
In 2013, the payroll outsourcing market increased to $14.8 billion globally, the second largest HRO service next to benefits administration. Payroll looks poised for growth through NelsonHall’s forecast period reaching $17.8 billion by 2018.

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