4 Payroll Trends to Watch Out For In 2019

The era of paying the employees using cheques is gone. Now let’s straight up cut to the chase, those old days were in no way the good old days.

Going to submit a cheque, waiting for it to be encashed was quite hiatus.

Gladly, things changed and now the salary is being transferred in the accounts of the employees respectively. But did it go or can go beyond that?

Even though the use of HRMS software helped a lot with the payroll calculation and other HR tasks, there is still a long way to go.

Let us check the 4 payroll trends that one must watch out for in 2019.

1.    Artificial Intelligence

AI has increased its presence in the past years in the software we use. The change will continue and in the coming years, all the best payroll software will have it.

In fact, apart from calculation and data related tasks, it will also be able to cover processes and offer solutions where it will suggest what the working professionals are qualified to receive according to it. Humans will always be required, but a lot of processes will fasten and get streamlined with it.

2.    Two-way integrations

Earlier, there was only a one-way integration i.e. from the HCM to the payroll system. However, now the integration is done two-way. So, now payroll data is sent back to the HR software too.

This helps the decision makers to make more accurate and informed decisions. When used judiciously, this two-way integration will help the organisations to get a better perspective alongwith local compliance.

3.    Compliance and security

Just like the bestpayroll software are compliant now, they will continue to stay compliant and get more secure. Some of the companies who are looking to consolidate and centralise their HR processes are harnessing the power of HR software.

The organisations are now implementing one software at multiple locations to keep the data and policies all in one place. This is making them even more compliant and data all the more secured. The same is going to thrive in this year as well.

4.    Cloud and shared services model
The cloud-based services are undergoing a lot of transitions and that is going to be beneficial for the payroll software as well.

Cloud-based devices are updated frequently, access to data becomes easier, and the information remains readily available to the users at all times. However, even after this, a new trend has sprung which is that of the shared services model.

 2019, there are a lot of changes that the work landscape will undergo continually. Hence, it is quintessential for the HR heads to keep a track of all the changes.

Everything is going to impact the employees, business and them to a great extent. This is why if your company will lack in any way, your competition will rise. 

So, to make sure you don’t lag behind, you must follow the payroll trends and own the best payroll software.

Post a Comment