This podcast was recorded before the global pandemic. While the world looks a lot different today, we believe this content remains valuable for helping organizations move forward and emerge stronger.
In a world that's increasingly complex and uncertain, payroll is one area that must remain stable. Now more than ever, every paycheck is critical. For every business, it’s essential to ensure employees are paid quickly and on time.
But that doesn't mean the world of payroll is unchanged. At many organizations, the payroll function is shifting from being an administrative process to a strategic partner by taking a front-seat role in supporting business strategy, data compliance, employee engagement, and much more.
On this episode of the Workday Podcast, I talked with Colin Brennan, president of solutions and services at Alight Solutions, about how the function of payroll is evolving in businesses and delivering greater value and impact to organizations.
Below you’ll find a few highlights and key trends from our conversation, edited for clarity. You can find our other Workday Podcasts here.
“The expectations of the payroll department are changing. Today, you want a payroll department with folks who are analytical and look at the data, understand the trends, identify outliers, and support fraud detection.If you've been running on a payroll platform in the United States only, your business strategy must shift to be in multiple countries, states, and geographies.”
“One big advent we've seen in the payroll space is how machine learning and AI help with anomaly detection. Increasingly with the technology we have available, you can look back at someone's pay history and find things we might have missed in the past.”
“We're seeing an increase in self-service as workers expect to get access to their pay in real time. For those who work in hourly jobs who may not know how many hours they get credited for or what their overtime was, they want to go into an app on their phone wherever they are, see their pay, understand what they got paid for, and what hours got approved.”
Interested in learning more? Check out the latest from Alight Solutions in our recent Workday chat, Navigating Change: Payroll and HR Trends.