Payroll Best Practices: 3 Ways to Future Proof Your Processes
One of the concerns that people understandably have about artificial intelligence and automation is that certain kinds of jobs will disappear. And while it's true that some specific jobs have disappeared over time, the introduction of automation has also spurred innovation and the creation of completely brand new roles no one had ever imagined before. Work, in other words, has always evolved with time and technology. But innovation doesn't happen automatically. Ensuring that your organization-including your payroll organization-is prepared for the changes that will eventually come requires forethought and strategic action on your part. Industry insiders call this future proofing.
Listed as one of the top human resources trends of 2018 by Forbes, future proofing is about helping your organization and your people pivot so that you can confidently face the future together.
Below are three payroll best practices for to help you start your future proofing process in 2018.
Approach The Future With A Strategic Mindset By Staying Informed About The Latest Payroll Industry Trends
Change can be difficult, but let's have a reality check here-the sky isn't falling. One of the worst ways to respond to change is by panicking or trying to hold onto the past. That only means that your eventual solution-because eventually you will have to have one-will be approached from a position of weakness rather than a position of strength. Instead, take a deep breath, remind yourself that everything changes and take the steps you need to take to be prepared.
One way to approach the future with a strategic mindset is to simply stay informed about new trends in payroll. When you know what's just around the bend, you and your team can start brainstorming about ways to be prepared well before an upcoming trend goes mainstream.
Identify Which Payroll Outsourcing Partners Are Already Investing In The Future
Why does work evolve? Because technology-including payroll technology-evolves. That means organizations often feel like they only have two options-invest or fall behind. But for areas like payroll, there's a third option: Use the latest and greatest third-party research from an organization like NelsonHall to find a leading payroll outsourcing partner that is already investing in the latest technology. When you have a payroll service provider that is dedicated to tackling the future strategically, that puts much of this burden on their shoulders rather than yours, reducing costs on your end and allowing you to take on the third best practice on our list.
Start Redeploying Your Team To More Strategic And Analytical Roles
People will always be at the heart of your organization, but their roles and responsibilities will change. With a payroll outsourcing partner to help you with the day to day tasks of payroll administration, payroll tax and garnishment administration, you can begin looking at ways to help your team develop new skills and pivot to roles that will allow them to play a more strategic or analytical role within your payroll organization. As a result, your employees have opportunities for growth and professional development.
Start Future Proofing Your Payroll Organization In 2018
If you've waiting for a special signal to start the future proofing process, consider this it. The future isn't coming sometime in the next few years-it's here already. Following these best practices in 2018 and beyond will empower your payroll organization to start thinking about the next big trends you'll have to tackle.