The current state of payroll and the future of the critical process and profession is reaching its much-needed inflection point.
Prioritizing the critical process and profession as a central element in the broader human capital management (HCM) strategy is vital to enabling organizational agility and elevating the profession from its simple processor stigma to a strategic advisor and center of expertise.
So Close…Yet Still So Far
Payroll has come a long way from its stone tablet and paper journal roots. Tabulating machines must have seemed like the future in the late 1950s to the few organizations with access to them. Eventually, desktop computers and the internet paved the way for payroll software to change how payroll was “managed.”
But payroll largely limped along with inadequate technology to support the dynamic nature of a modern global workforce. Payroll has also historically been overlooked when it came to investment or transformation. If it wasn’t broken—why fix it? As a result, payroll practitioners limped along with manual operating environments, disparate systems, and a lack of tools for accessing data globally.
Continue reading the full article here: Inflection Point – Enabling Strategy and Organizational Agility With Payroll