For payroll professionals, 2024 is about balancing conflicting priorities, challenges and opportunities, and risk and reward as economic uncertainty continues. Our comprehensive research into global payroll reveals a payroll function that’s becoming more ambitious but mustn’t lose sight of the fundamentals.
Four broad themes and challenges emerged from this year’s research findings:
- Employee experience is top of the agenda, but what about accuracy?
Getting paid on time and accurately is the most fundamental requirement of work. If that doesn’t happen, the mental and financial well-being of employees may be negatively impacted, as well as their engagement and productivity levels.
- Balancing a global view with local expertise
Payroll requirements and regulations vary significantly around the world. Yet, organizations must strive to standardize processes wherever possible to ensure consistency across the employee experience and make global reporting, economies of scale and efficiency possible.
- Making the IT case for global payroll
Finding the right capabilities is so important that IT leaders have become leading stakeholders in global payroll conversations. Their primary objective is to minimize the complexity of implementation, ongoing maintenance and data flow management.
- From operational to strategic – the modern payroll team
Some organizations still rely heavily on traditional payroll skills. Others are evolving their teams to incorporate broader and more technical expertise as they strive to tackle data security, analytics or strategic challenges.
Download the full results from ADP’s 2024 global payroll survey and learn how to balance your priorities better and prevent universal challenges from overcoming payroll’s potential.