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.
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.
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.
An influx of remote workers means new compensation considerations.
By Jean-Luc Barbier
In recent years, HR departments have witnessed the rise of a whole new type of workforce, one that now includes remote workers. As globalisation, skill availability, and outsourcing practices change, businesses have been taking advantage of freelancers, and the traditional work environment is being reshaped.
Payroll finally gets a much-needed tech upgrade via cloud solutions.
By Paul Bartlett
The payroll function has a well-earned reputation for being one of the least tech-enabled areas of the enterprise. Even in the digital business world of 2017, many organizations still take a paper-checklist approach to payroll management—an approach that’s heavy on spreadsheet-based calendars, manual data uploads, and static PDF reporting.
Choosing the right reimbursement program pays off.
By Craig Powell
By 2020, mobile workers will account for 72 percent of the total U.S. workforce, according to a recent report by IDC. Given this anticipated growth, it’s imperative that employers fairly and accurately reimburse their employees for any business-related driving expenses. Radio Shack, Walgreens, and Starbucks (see sidebar) are just a few of the organizations that have been involved in reimbursement-related lawsuits, which proves that no business—not even a high-profile one—is exempt from ensuring employees’ business-related expenses are covered.
Hold on tight HR: Big things are to come in 2017.
By Amy L. Gurchensky
2016 had its share of trending topics in HR: cloud-based technology, open ecosystems, marketplaces, and robotics process automation. These issues, as well as a few others, will play a key role in shaping the future of the landscape over the next several years.
We know that the readers of HRO Today magazine turn to us as a go-to resource in the HR industry that delivers trends, insights, and the top resources for all of their HR operations and service needs. In our annual resource guide, we aim to showcase providers and product vendors across 18 sectors of HR services.
Here, you will find providers of everything from recruitment process outsourcing (RPO) to benefits administration and multi-process HRO, not to mention a treasure trove of HR technology, consulting services, and other ancillary products.
We hope that our 2017 Resource Guide will serve you well as a starting point in your search for appropriate vendors.
SaaS-based compensation solutions offer layers of valuable data that go way beyond just pay.
By Aaron Hurst and Jayson Saba
When all else fails, trust payroll data. The reality is that in most companies, there is no single source of truth for people-related data. Often, companies either have multiple HR systems or rely on spreadsheets to make sure they are reconciling all of the different data sources. In these cases, payroll data becomes the most trusted source. It is hard for a company to mess that up. Plain and simple, if they do, they will either hear it from employees or from the IRS. While the holy grail is a single application for HR, payroll, workforce management, time and attendance, and talent management, most companies aren’t quite there yet. In fact, research from Sierra-Cedar’s annual HR Systems Survey report shows that 98 percent of companies still rely on Microsoft Excel for reporting and analytics, and less than half (43 percent) have embedded analytics in the HR management system (HRMS) of record. Nonetheless, the same research shows that 99 percent of companies have a payroll system in place.
A former boss used to say “Let’s worry about two things first: pay our people, and keep the company out of the papers. Then we can do all the fun stuff.” Obviously, she was talking about accurate pay and compliance.
One of the most important aspects of human capital management is handling payroll processing. It’s the lifeblood of every successful organisation. Payroll is challenging enough when we have to worry about a couple of legal entities in two or three states, each with their own tax rules and regulations. However, these challenges start to grow exponentially when companies grow in scale and begin administering payroll on a global scale. The problem is largely one of compliance. Every country has its own economic conditions, currencies, and laws about how employees can be compensated. Companies must manage their payroll in a way that not only keeps employees compensated and engaged with their jobs, but also measures up to various national and international challenges of payroll processing.
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