The Reality of a Career in Payroll
Many people are totally unaware of how their pay and payslip is calculated and produced.
Yet it is one of the many things that we wait for each month. We need our payslips to check our pay and we also use them as proof of income, for example as a mortgage application.
Many people are totally unaware of what a complex area this is for any business. Coupled up with complexity, payroll is also time driven, and accuracy is a must but an area which is often not given the recognition it truly deserves.
All payroll professionals will be used to this, however during Covid and the introduction of furlough, many employers felt total gratitude for their payroll staff. Payroll professionals up and down the country worked around the clock to unpick changing legislation and help employers and HR departments understand the CJRS rules and regulations. Equally it was critical to ensure people were paid accurately and on time, no matter what. The calculations and adjustments will remain in payroll professionals’ memories for years to come!
Although, what the Covid-19 period did do, was to make a reality the need to ensure the latest technology is used for payroll processing to ensure business continuity plus to drive forward efficiencies and flexibility. The Covid-19 period also put a huge spotlight on payroll education and training.
To ensure talent is continuously created, the Payroll Apprentice schemes are invaluable. They offer a clear career path, in depth structured ‘on the job learning’ and are a perfect platform to launch a career in Payroll.
For some payroll professionals their job role may also include finance, HR or even all three! However, the benefits of undertaking a professional payroll qualification cannot be understated. This endorses the knowledge and experience already gained but will also add to a person’s knowledge and experience. Payroll qualifications begin at apprenticeship level all the way through to a Master’s degree and Fellowships.
A Payroll professional has multiple options in which way to develop their career. With everything from working for small employers to huge global multi-international companies, from in-house payrolls to working in a bureau environment. Some payroll professionals have even expanded their UK payroll knowledge and education to have the ability to work on international payrolls. Payroll personnel with a good payroll education and experience could move into the IT sphere where payroll software is developing at a super-fast pace. Companies need dynamic managers to have the ability and agility to help navigate their company in a forever changing world. A degree in Payroll Management is a fantastic way to learn and develop excellent managerial skills including finance, operational and project management. Even teaching payroll is an option for payroll professionals as a career!
As mentioned, the furlough scheme definitely brought about many challenges for payroll professionals, however if there is one lesson they can take from it is that challenges come with rewards and opportunities. So as we head towards the closure of the furlough scheme, we move nearer to a fresh and exciting time, with opportunities galore for all payroll professionals.
If you have any questions around this topic or any queries around anything mentioned get in touch with our friendly payroll team today on email@example.com