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With a backdrop of persistent political, economic and social change, business leaders today have had to broaden their scope of activity within their organisations to stay ahead.
We understand the transformation within roles and the increasing demands of boards and executive teams to manage costs, increase margins and to ensure their workforce is healthy, engaged, motivated and productive.
Today's CEO is increasingly encountering the influence of macro level dynamics on their business; economic, social, trade or political. At the micro or internal level there are factors impacting and influencing the organisation leader.
The role and function held by Human resource leaders has changed a lot over the last few years. Senior leaders in this field are on executive teams and require depth and breadth of knowledge in many areas related to the organisation's employees.
Changing socio-economic, technological and population demographics are all playing a huge part on how to manage the workforce. Aging population, flexible work requirements, mobile technology demand and a shift to consumer demand for business to have "people" and support roles available across some industries 7 days per week. Outside the daily human resource tasks and workload, the HR Executive is increasingly called on to support decisions in the purchase of technologies and software.
Employee engagement impacts the bottom line and HR has a direct impact on this. In many studies the higher the level of employee engagement the higher the profitability, customer satisfaction and productivity.
For any small to medium business owner the uncertainty in business is directly influenced by the management of cashflow. The need to grow a company, attract and keep talented key staff, and balance the budgets for recruiting necessary support roles like finance and human resource, can be a challenge. The business owner maintains a CEO and often CFO and CIO role within their remit.
Increasingly we see a move to bureau or outsourcing to support budget and business changes, to stay ahead of all the legislative changes. This also means not having to employ employees that have to fulfill specialised human resource and related roles. For example a bureau that will process all payroll and employee details has experts that take care of all the tax, payments, links to tax agencies and much more, offering flexibility and security.
CIOs are fundamental to the success of any business and have the knowledge and expertise to impact the bottom line. Their primary role is to influence the investment decisions and offer technology solutions that will help power the business and deliver on the digital transformation strategies set by the organisation. Providing the organisation with the tools to gain greater insights to drive revenues and the technology to minimise costs.
Despite the skills and talents that exists with those managing the payroll function, errors can still occur. The demands from the Executive team to provide more metrics and analytics about employees costs and risks often means collating data from many disparate systems. The time for managing the regular payroll function is put under pressure with an increased volume of compliance and administration duties. A changing workforce comes with more complexity for the payroll team.