And how this may impact your organization
The HR department can have some serious concerns over the Payroll and other operations for 2020. We all know that trends are changing and the inclination of people towards automation is also increasing with it. So, when you think about aligning with the best choices both for employees and your business. The most important factors to watch out for 2020 are:
- Employees wellness
- VR and AR-based solutions
- Ways to Drive Engagement
- Real-time performance feedback
- Generational shift
Top HR & Payroll trends to look out in 2020
If you want your employees to enjoy the real-time experience, you need to watch out for the latest HR trends for this year. We need to understand that times are changing and so as the employee administration. The changes include time and attendance solution. It connects the cloud-based data to the analysis system for payrolls and vacation calculations.
Therefore, counting on each factor thoroughly, we have gathered some of the trends that any company should look forward to in the future.
1. Employee wellness
Employee wellness has been a stated focus for many organizations for several years. However, implementing the wellness of the employees. It can mean less emphasis on novelty perks such as ping-pong and pizza. Instead, more meaningful perks and benefits will be demanded, such as on-demand pay and medical allowances, etc.
2. Employee engagement
It is the main factor to consider for ensuring the valuable environment within the organization. So, you can say that it about complementing each other, collaborating on a broader perspective. And involving them in the major decisions.
It’s no secret that employee engagement is being transformed by technology. Engaged employees are likely to be more productive and stay longer at an organization. This will reduce the costs and hurdles of staff turnover. Ultimately having a significantly positive impact on day-to-day business success.
3. Pay transparency
If you don’t want to cultivate the culture of office politics. If you want the best for everyone working to accomplish your vision – you may need employee self-service ESS technology. This tool allows employees to get access to the salary, KPIs, benefits and any other reimbursements that need to be followed.
4. Payroll compliance
Moreover, you need to calculate the pay while adding income tax, benefits and all the other perks. So, in that matter, the payroll integration tool in dynamics 365 can assist you. However, the final calculation depends solely on the Australian and New Zealand taxation system.
5. The rise of the bots
The rise of bots Technology remains a constant force of change across all areas of business, including payroll and HR. Artificial Intelligence (AI) and Robotic Process Automation (RPA) are the technologies that have been top of mind in the past few years. So, now if you have to keep up with the new trends, these technologies are must include.
Final Thoughts
In the end, it is all about embracing the future. We have already many AI, VR and time tracking solutions, but the world is still growing in tech. So, it would be fun to blend tech and humans in the future. Finally, we would love to hear your reviews and let us know if we miss something.
