Insights from our closed-door executive roundtable with HR leaders, including Costco’s Head of HR, to explore how to take advantage of moving payroll to the Cloud.
Moving payroll to the Cloud can be a daunting project.
But Cloud-based payroll can be easily integrated with HR (HCM) and Finance systems.
Read these exclusive insights from our recent roundtable discussion to hear how the move has led to real business benefits at leading organizations and how others are considering the leap.
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For most organizations, moving your payroll solution online (to the Cloud) makes business sense.
Not only does it improve payroll processes and accuracy in a secure environment, but it can empower your payroll team and improve employee experience – regardless of where they work or where they are in the world.
Payroll finds itself at the forefront of huge innovation, but it needs to be operated in the Cloud in order to take advantage of many of the benefits like self-service and automation. Making the leap can be intimidating for organizations and for many it’s the last bastion of digital HR transformation.
We were fortunate to hear from HR leaders, including Sue Knowles, Head of HR at Costco Wholesale UK Ltd., as to how they have managed this transition, and what their journey looks like if they haven’t taken the leap already. We discussed the lessons learned, the pitfalls to avoid, the real business benefits delivered through moving payroll to the Cloud, and how others can replicate this transition successfully.
Common drivers for moving payroll to the Cloud:
To reduce internal costs, including those attributed to IT support and the cost of printing and delivering physical paper payslips, for example.
To ease deployment of new functionalities, such as self-service and online payslips.
To overcome challenges with legacy systems, especially in end-of-life or end-of-support scenarios.
To remove challenges with integration with other back-office systems.
To eradicate issues of non-compliance in the business, due to GDPR or changing payroll-specific legislations, for example.
A payroll solution to drive Costco’s digital transformation
Sue Knowles shared in the session that some of their unique challenges at Costco included an unsuitable legacy platform; a fortnightly pay cycle; and a tight implementation deadline of just three months. Part of their brief when looking for a new payroll provider included ease of use, data security, compliance, accuracy, and self-service functionality. The core business stakeholders, including Sue, were looking for a cloud-based solution that would meet these needs.
During the procurement process, Sue explained to the group, that a real differentiator and leveler for success was how the team really listened to their needs. Sue and her team knew that some of their expectations were challenging, and their requirements were different from others. For example, Costco has a unique time and attendance process where, every 1040 hours, they increase an employee’s pay. Given the relationship that they had built with SD Worx, there was a level of confidence that trickled down to the employee level, and a trust in data protection and that employees would get paid on time and the right amount.
Others in the group potentially looking to shift their payroll solution to the Cloud could see the benefit in the ease of compliance, data security, and efficiency in the system overall. And clearly, whilst each organization is unique, and so too are the core drivers for transformation, compliance has oftentimes been at the top of the agenda when it comes to payroll.
The pandemic has thrust payroll into the spotlight and we’re seeing the buying market for payroll solutions and outsourcing grow significantly. Organizations like Costco and others around our recent roundtable table are exemplifying how integrated, outsourced solutions are creating more powerful employee experiences and reporting opportunities that are driving real business decisions, as well as the appetite to get there from those that haven’t yet done so. This touted combination of efficiency and effectiveness makes payroll in the Cloud a very exciting place to be, especially when you’ve got the right partner and strategy in place.
Why join an UNLEASH Roundtable?
Amid the current disruption, HR leaders need to get ahead of the exponential trend where work, technology, and how work gets done have changed forever. But how should we approach the relevant questions, given the radical uncertainty we continue to face as the pandemic becomes more protracted than anyone imagined? Our exclusive Virtual Roundtables are designed to explore where business leaders are focused now, key challenges and prioritization for the rest of the year, and what matters most in planning for what’s next.
