“The cost of doing nothing in payroll”, by Kronos Senior HCM Strategist Teresa Smith, considers the areas of the business that are impacted by inaction with regard to payroll technology. From the costs associated with non-compliance, to the impact on payroll and data, this piece highlights both the obvious and more inconspicuous results of an outdated payroll system.
This article discusses the many challenges faced by today’s payroll workforce in managing complex compliance and operational standards. Here, we shine a light on inefficient and ineffective practices that can be commonplace in organisations, and the role payroll technology plays in overcoming these. The benefits of change far outweigh the risk of poor or outdated systems. Investing in robust payroll technology supports employees and ensures the company is not exposed to the high cost of ‘doing nothing’.