Market Trends Changing the Payroll Industry
Today, we are in a once-in-a-generation perfect storm in the payroll industry. Unrelenting market forces—unrelated to payroll—are conspiring to create a major change in our industry. The result of this perfect storm is that employees want to control the timing of their pay. And employers will have to meet this demand.
The Rise of On-Demand Payment Solutions
The net result of these seemingly distinct forces is that companies must offer their employees an ability to meet financial requirements on time, or else face losing them in a difficult labour market.
We are witnessing first hand a movement by companies to address these challenges by offering their employees control over the timing of their pay. Companies like Uber have already joined the DailyPay Movement, enabling their employees to access earned wages on their own timing.
Importantly (and great for the payroll industry), technology now exists so employees can receive this benefit without the employer changing anything about its payroll process, including the timing of payroll funds.
Learn more by attending one of our Courses
Our structured training course provides participants with the skills required to perform not only the basic payroll functions such as calculating gross pay but includes the irregular aspects of payroll like student loans, SMP, SSP, etc.
Market Trends Changing the Payroll Industry - Today, we are in a once-in-a-generation perfect storm in the payroll industry.