This article was updated on July 17, 2018.
Employee empowerment is one of the most prominent contributors to increased enterprise agility, especially in the arena of global human resources. With employees receiving paychecks monthly to daily, it is clear that providing a superior interactive, self-resolving experience in the digital paycheck has a profound impact on overall resolution rates.
How Interactive Paychecks Increase Agility
Constellation sees six characteristics of interactive paychecks:
- Comprehensive explanation: Some paychecks will trigger questions by the employee. It is key that a next-generation global HR software system offers explanations for each and every piece of information displayed on the paycheck. Moreover, it is essential that explanations are layered — ranging from simple answers achieved by a mouse hover over the field to longer explanations. Ideally, the interactive paycheck will use the employee's own data to explain fields.
- Onboard analysis: The paycheck should allow basic analysis, including the ability to compare pay over time, but also anticipate the most common questions such as why the current paycheck differs from the last one. Leading global HR software products will offer these analysis services.
- Advanced simulation: Employees usually have financial goals and aspirations. Employees may want to see how long it takes them to save a certain amount. Employers often want to show their appreciation for workers and reward their behavior and work. An employer, for example, might want the interactive paycheck to show the impact of overtime work to the bottom line on the next paycheck.
- What-if support: More sophisticated what-if capabilities will allow employees to assess the potential impact of a pay increase, the change of tax status due to a life event (often marriage or birth) and other pay-related questions. Being able to quickly address such questions represents a key productivity gain for employees, which also benefits the employer. Workers become more motivated and gain better insight into longer term pay-related questions.
- Revival of employee communications: Basic communication with employees can be made part of the paycheck, such as announcing executive changes and corporate events. Moreover, HR should use the paycheck to remind employees of how many weeks are left in the current performance review period, for example. The automation and communication may even go to talent management, such as using the paycheck to remind employees where the employer is looking for new hires. Yet another use is having the paycheck show the amount and impact of an employee hiring referral on take home pay.
- Chatbot support: Instead of having to navigate the interactive paycheck, employees may just use a chat function on their smartphone, tablet or computer, with a chatbot responding in the global HR software. With bot frameworks broadly becoming available, chat-based question and answer capabilities will soon become a staple of next-generation global HR solutions.
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Watch the video, Bringing the Payslips to Life, and see how your organization can benefit from creating an interactive platform that your employees are engaged in and how that delivers value to your organization.
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