What's keeping Finance awake at night? And why HR can help

Posted by: The ADP Team on 29 June 2017 in Finance, Human Capital Management

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What’s keeps finance professionals awake at night? According to an article in The Economist Intelligence Unit and ADP's CFO series, chances are that it’s digital technology. As the business landscape grows more complex, successful finance leaders can no longer afford to just focus on the numbers. Once owned by IT alone, digitalisation is now seen as key to improving overall business efficiency, staff productivity and profitability. This move to create a broader and more strategic function is driving the finance team to get closer to human resources (HR) – to the benefit of the business as a whole.A recent survey from global consultants Ernst & Young (EY) found that 80 percent of the 550 CFOs and CHROs surveyed said that their relationship had become more collaborative over the past three years. The reasons are fairly obvious. Human capital is both the most valuable…

3 Australian businesses show why size isn’t an indicator of payroll needs

Posted by: The ADP Team on 27 June 2017 in Payroll

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Businesses have a wide spectrum of payroll options to choose from – ranging from outsourcing to in-house systems based on excel.  Decisions about payroll needs are however often based on business size – but can headcount really be a good indicator in today’s complex business landscape? With an estimated# 70% of operating costs coming from salaries, overtime and other compensation, a deficiency in your payroll system could cause a significant risk to your profitability and success.Size is no indicator of complexityUsing a manual payroll and time capture system with excel worksheets can seem like a low cost option suited to smaller organisations. In reality though no two businesses are the same. Some smaller businesses use a mix of employment models such as part-time and contract work to enable greater flexibility. To manage these types of employees, a business may require a…

Guide to employer record keeping: payslips, super, tax & more

Posted by: The ADP Team on 21 June 2017 in Compliance

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Click here to access your copy of the Employer Record Keeping Guide. Learn more about what Fair Work and the Australian Tax Office stipulate as the required records that all employers need to create and maintain regarding each employee - from payslips, to timesheets, superannuation and tax. Record keeping obligations are just as important as other employer responsibilities such as health and safety however, Australian employment relations and taxation laws are some of the hardest in the world to navigate. Research commissioned by the Association of Chartered Certified Accountants ranked the Australian taxation system as the highest in ‘complexity’ when compared to the UK, USA, Canada, Singapore and Hong Kong. Most employers want to do the right thing. Problems often arise because those in charge of payroll or human resources have a limited understanding of the application of Australian workplace and taxation…

CEB poll reveals how Australian businesses are reacting to Artificial Intelligence

Posted by: The ADP Team on 20 June 2017 in Human Capital Management, Innovation & Technology

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I said take the second right after the roundabout! Remember those heated navigational disputes that dominated just about every car journey? Road trips had the capacity to end relationships. Yet, in the last few years arguments over incorrect directions or which route was shortest have almost been eliminated by Artificial Intelligence (AI) – as your GPS or satellite navigation device issued step by step guidance to the driver. Passengers all over the world were instantly free to cease their quarrels and instead take selfies of their growing double chin or ponder the meaning of life!Australian business leaders are also reviewing the expected efficiencies, higher productivity and competitive benefits AI and robotics could offer their business. A poll conducted at the CEB ReimagineHR event in Sydney, showed that nearly 50% of the audience were "actively planning" for AI in their business strategy – despite…

5 tips to help stop timesheet errors and fraud

Posted by: The ADP Team on 14 June 2017 in Compliance, Time and Labour

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43% of hourly workers surveyed admit to exaggerating the amount of time they work during their shifts(1). Employee timesheet error is a big problem, but it doesn't have to be. Even if you believe your organisation is immune to time theft, without the right tools for time analysis it's impossible to understand your exposure.Click to watch how you can stop time theft on an individual and organisational level. Efficient time capture solutions increase the efficiency of employees and their managers, reducing all the manual effort required to review time sheets. With the right systems you can unlock significant savings and boost productivity. Here are five tips to help you stop time theft and unnecessary payroll expenditures.1. Identify and seal the cracksThe right method of time data collection can vary significantly, depending on your organisation's workforce, size and technological capabilities. Organisations that integrated…