Are poor payroll tools impacting your business success?
Agility is now a critical consideration for any Australian business. As employee needs and the competitive landscape changes, many organisations are increasingly using an on-demand approach to build their workforce. Legacy tools can however struggle to support this transition. Consider how easy it is to adapt your payroll, time capture and rostering systems to respond to new employment hours or locations?
Fragmented, outdated or inadequate HR tools can reduce your agility and pose a risk. According to Fair Work*, payroll recording keeping errors account for two thirds of all court proceedings they initiated between 1 July and 31 December 2016 – and the combined value of employer penalties issued for breaches hit $1.8 million.
What’s holding your team back?
Managers know all too well the frustration of having to navigate multiple, fragmented systems to gather the information they need. If your legacy payroll solutions don’t play nicely with time capture systems and rostering can’t align with leave approvals, the result is a chaotic mess. This is especially problematic if your organisation has plans to open satellite offices in a new country or a merger is under way. How do you effectively integrate even more disparate tools in your already fragmented work space?
Despite the common chaos, however, businesses still struggle with adopting more agile, integrative technology. Why? Forbes says the FUD factor – fear, uncertainty, doubt – remains one barrier to adoption. There is concern that new offerings could upset their not-so-agile set-up. Put simply, this often comes down to a “better the devil you know” discussion and keeps businesses from achieving their agile potential.
The integrated advantage
Payroll and time capture solutions that are integrated are easier to use, encouraging rapid and consistent employee adoption. For example, if a business with operations across Australia or the region, has access to the same payroll system at all endpoints, errors and the need for manual corrections can be minimised. The integrated data will also allow you to more easily uncover actionable insights that could result in significant savings.
Achieving these goals, however, demands a re-think of the HR process. Third-party tools and technologies must play a larger role in achieving agility and integration. For example, cloud-based payroll let HR professionals easily manage large amounts of data without slowing down local servers or relying on cumbersome legacy systems, while integrated HR software suites provides the ability to transparently view data across all systems.
In short, fragmented HR systems can slow down organisations and make it difficult for businesses to accelerate their growth trajectory. The rise of cloud-based, integrated payroll solutions now make it possible to support business agility and positively impact growth strategies, without having to sacrifice control or visibility.
Find out more about how the right payroll tools sharpen your competitive edge.
*Fair Work Ombudsman Media Release, 17 March 2017
Written by: Connect@ADP Team