47% of organizations have HR software that is over seven years old. Archaic software is often pieced together accompanied with an old-school user experience that results in inaccurate data and low levels of user adoption.

HR may have become numb to the inefficiencies and extra administrative work required with managing older systems, as this is most likely the way things have always been at an organization. Switching to a new HCM solution means migrating years of data, setting up and defining processes, training managers, and helping employees navigate a new system- enough to make HR howl.

Running a business consists of thousands of little steps every day. There are many tiny tasks that make up the overall organization to keep things moving forward. Payroll is an important one.

Like many areas of business operations, technology is changing how businesses process payroll. This change not only stems from the pertinent technology developments regarding how payroll is processed, but also how said technology is changing the world as a whole. More businesses are abandoning the traditional 9-5 salaried worker model and using remote capabilities. 

With that in mind, here are four payroll trends that prove that the future is happening now:

A Spiceworks survey shows that 62% of organizations currently use biometric authentication technology in the workplace and that an additional 24% plan to implement biometric technology within the next two years.

Employees are quick to ditch memorizing long, lengthy passwords and HR is on board to implement biometric technology to help accomplish a wide of range of objectives in the workplace, specifically employee labor reporting validation and overcoming daily people challenges like buddy punching.

In 2013, the Cole Memorandum, which advised U.S. attorneys to refrain from prosecuting state-licensed marijuana businesses unless they violated a federal law was signed by the Obama administration. The Cole Memorandum has since been rescinded in 2018 causing uncertainty among the industry.  

Before you can go scouring the marketplace for your perfect HR technology solution, you first need to know exactly what you’re looking for. Which means knowing what your organization needs in an HRMS. So, how do you go about identifying those HRMS requirements? First, know where you’re starting from. Second, establish what your users need by way of functionality. Third, look at your technical requirements.

Multi-generational, virtual, and global workforces have added a new layer of complexity to the traditional functions of HR, Payroll, Benefits, and Talent Management. Attempting to manage all of these functions via disparate solutions is proving to be a major challenge for HR leaders, yet many organizations still operate off of 3-4 systems.

In response to the SMB client driving up the demand for a single system of record for all things HR, both traditional service bureaus and HR technology vendors began developing and promoting an all-in-one, unified, single HCM platform.  

It’s probably fair to say the basic premise and fundamental focus of HR automation is process improvement. After all, if it doesn’t make your day-to-day HR life easier, why have an HRMS in the first place? And it seems many would agree. According to the Sierra-Cedar 2017-2018 HR Systems Survey, 67% of organizations have “business process improvement” as a priority for their HR technology investment (with “HR systems strategy” a distant second place at 40%).

Your people are your most valuable asset and often your largest expense. This is why investing in the right workforce management technology should be a top priority for any organization.

According to a Software Advice study, 43% of employees admitted to falsifying their timesheets, costing organizations $400 billion annually in lost productivity.[i]

In addition to time theft, a countless number HR and Payroll managers are still chasing down employees and supervisors for missing punches, approved time sheets, and accounting for shift differential and overtime pay. Once the time capture is complete, managers then have to ensure that all of the clean data ultimately finds its way into the payroll system for successful payroll runs. 

As we wind down towards the end of 2017, we invite you to countdown to 2018 with our top 5 blogs of the year:

Payroll processing is an important aspect for every organization. It’s the way you reward and retain your people for all of their hard work. Failure to accurately pay your people can result in penalties, fines, and disengaged employees.

Without the right resources and knowledge, processing payroll can be frustrating, time consuming, and complicated. This is why many organizations choose to outsource payroll and tax management to a third-party provider. Whether or not your organization outsources payroll or performs processes in-house, here are 5 things you need to know and the top resources to help: