Why companies are re-assessing their approach to HR and payroll.

Right now, the HR departments of the country’s leading companies are in a fascinating era of flux. The fact is economic uncertainty, shifting workplace dynamics and new technologies are prompting many leaders to recalculate their corporate strategies. Gartner Research cites change management as a key trend in 2023 and beyond, which is why it’s unsurprising that the case for change is firmly on the boardroom agenda. It is a top priority for 53% of HR leaders, who additionally must rise to the challenge of 45% of their employees who are fatigued from all the change.

Ultimately, organisational design and change management must remain a top priority for leaders navigating a seemingly uncertain future. As a modern workplace adapts to an ever-evolving workforce and attitudes, human resource departments must now actively weigh up the benefits of adapting to new technologies. It’s clear that HR and payroll management are two critical functions of any organisation, impacting every area of the business through the core – its people. This is why it’s essential to get leaders from across a company involved at every stage of a change process, from identifying challenges and planning improvements to implementation. The rationale is simple; when people are involved in identifying challenges and recommending improvements, they understand the reasoning behind it and become more invested in the process.

Fortunately, technological disruption is a factor that can be more firmly controlled by companies. HR professionals acknowledge this, while still recognising the need to gain a greater understanding of which technologies will make a difference in the workplace. The answer is twofold: cloud technology and Artificial Intelligence (AI) are two major trends that are playing a crucial role in shaping the future of HR and payroll. Cloud technology empowers HR and payroll teams to access information from anywhere and at any time, increasing their efficiency and flexibility. It also allows for real-time updates and improved data accuracy, making it easier for businesses to track their employees’ time, attendance, and payroll. BCX Digital Platform Solutions has seen a growing trend of companies adopting cloud software to automate and manage workflows. This workplace automation is expected to keep growing, spreading into industries that have traditionally been slower to adopt automated tools.

AI, on the other hand, has the potential to automate repetitive and time-consuming tasks, freeing up HR and payroll teams to focus on more strategic activities. For example, this intuitive tech can be used to process employee information, automate the payroll process, and even help with employee engagement and performance management. Additionally, AI can help companies stay compliant with rapidly changing laws and regulations by providing real-time updates and recommendations. The integration of these technologies into HR and payroll management will likewise lead to an increase in data-driven decision-making. The abundance of data generated from these systems can be analysed to gain insights into employee behaviour and identify areas for improvement. It enables informed decision-making that positively impacts the bottom line. This is also why BCX has seen clients being increasingly drawn to its many benefits, such as real-time updates to the latest labour and tax legislation or even the integration of WhatsApp as a game-changing HR tool – a surprisingly helpful link between the business and its people.

In fact, the case for change is being made with more peace of mind as privacy, security and system integration with minimal disruption are proving to be essential components of switching to the right technology partner. Cost-effective HR tools and technologies can now be customised to the unique environments of companies to help accurately measure KPIs and employee performance and use a goldmine of data at their fingertips to dig deeper into strategic metrics.

Businesses that don’t embrace technology and the change it brings are likely to fall behind and miss out on the many benefits that digitisation can provide. With the integration of cloud and AI technology providing businesses with the tools to streamline processes, increase efficiency, and make informed decisions, embracing change, is a change for the better. Businesses that embrace these technologies will be better equipped to attract and retain top talent, improve their bottom line, and remain competitive in an ever-changing marketplace.