![]() This raises a complex cluster of HR challenges including whether or not to adjust pay rates for locational cost of living (and if so, how), plus grappling with different taxes and deductions for workers in other states, provinces, or even countries. For example, city-based businesses are seeing a notable rise in workers leaving expensive urban centers and working remotely from less costly locations. ![]() And other gender, and racial pay gaps persist – with new ones emerging. Women earn 82 cents for every dollar earned by men. Cities and states are increasingly enacting pay transparency laws that require that every role’s salary range is listed in the job description.įocusing on pay equity as well as pay transparency is imperative. Legislation is changing alongside employee expectations. They want to know where their employers stand on social issues, how the companies they work for invest their money and have transparency into the salaries for everyone from the CEO down. ![]() However, as with so many things in the wake of COVID-19, employees’ expectations are changing. It’s long been taboo to talk about how much your co-workers make. What’s more, it can play an essential role in employee satisfaction and retention. Cloud payroll not only reduces complexity but also helps manage risk and boosts protection with cloud security. However, the good news is that a modern cloud payroll system can turn these challenges into significant new opportunities. employers about $6 billion in penalties for miscalculating or missing payments, and in 2021 a “name and shame” campaign and law suit led to millions of dollars in fines and reparation costs for hundreds of UK employers, including several very well-known companies. And payroll accuracy is more important than ever because payroll errors now often have very high stakes.Įven minor mistakes can lead to public embarrassment and a loss of credibility with the best potential employment candidates. Most companies now employ hybrid and remote work models which add a further layer of intricacy to payroll operations. In the era of the Great Resignation, employee expectations are on the rise. The growing interest in cloud payroll systems is unsurprising given the unprecedented amount of complexity and change that modern HR teams are facing.
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