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Oct 13, 2021Company & Culture

When Future Proofing Becomes Present Proofing

When Future Proofing Becomes Present Proofing

Future proofing is a popular concept in the business world, and for good reason—the future is notoriously hard to predict. The best you can really do is make an educated guess based on existing data and trends.

But the trouble with trends is that nature doesn’t really care about them. And COVID-19 is a prime example of that.

In early 2020, few people would have predicted that normal life was about to be disrupted at the scale it eventually was.

“COVID-19 really forced companies into a situation they’d never really contemplated before,” says Gaye Krisantz, OSV’s VP of Payroll Services.

And payroll is definitely one area—among many—where companies and their employees faced challenges they wouldn’t have experienced under normal circumstances.

“We had customers calling us last minute, saying, ‘I can’t run my payroll because I have to move my team home,’” Krisantz says.

Future proof solutions to traditional payroll, like earned wage access and payroll cards, do exist. But in a pre-COVID world, implementing those solutions may not have been a top priority compared to other future proofing measures.

The problem is, sometimes the future becomes the present much sooner than you think it will.

But OSV understands the value of being both future proof and present proof.

“We didn’t miss a beat,” Krisantz says, talking about OSV’s quick transition to working remotely. “Other companies didn’t have that same experience. But we literally did it overnight with no impact to our customers.”

What made a major difference for OSV is that it has always used the cloud to deliver services directly inside of the customer’s Workday applications.

“The cloud is definitely an advantage, because we don’t have to worry about the technology,” Krisantz says. “Being cloud-based and in-application—combined with the agility of our people—definitely aided our success.”

And because of this, OSV was able to lend a hand when customers needed it most.

“Because of our technology, my team was able to get on the phone and help customers we don’t normally process payroll for,” Krisantz says. “That’s one of our advantages. When there’s a crisis, customers with an in-house payroll solution still have access to Workday professionals. That’s not the case with other payroll providers.”

But processing payroll on time is one thing. What no partner can control is what happens to a paycheck once it’s been shipped. And for those employees who still receive their wages via a delivery service, it’s been more difficult in the last year for those employees to be paid on time.

“COVID-19 really impacted the U.S. Postal Service and other third-party carriers,” Krisantz says. “They were unable to keep up with the demands placed on them. Add 2021’s winter weather on top of that, and it had a real impact on employees who receive a paycheck by mail.”

Thankfully, the more that companies adopt solutions like payroll cards and earned wage access, the less employees have to rely on delivery services for their wages.

“If you have a paycard, you don’t have this issue,” Krisantz says. “And when you add earned wage access, you can use your money immediately if there’s an unexpected illness or sudden medical bill.”

As more companies decide how they can future—or present—proof payroll for their teams, payroll cards and earned wage access stand out as smart solutions that are popular with employees. And for unbanked employees, there’s the benefit of having access to tools they wouldn’t normally have access to.

But the best benefit of all is peace of mind for everyone.

“You can trust that your money’s going to be there on payday,” Krisantz says. “It’s at your fingertips when you really need it—anytime, anywhere.”