{"id":696205,"date":"2023-06-15T12:33:03","date_gmt":"2023-06-15T10:33:03","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=696205"},"modified":"2023-06-15T12:33:08","modified_gmt":"2023-06-15T10:33:08","slug":"keeping-pace-with-pay-rise-expectations-is-your-payroll-function-ready","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/industry-news\/696205\/keeping-pace-with-pay-rise-expectations-is-your-payroll-function-ready\/","title":{"rendered":"Keeping pace with pay rise expectations: is your payroll function ready?"},"content":{"rendered":"\n<p>The demand for wage increases among employees is at an all-time high. Are you equipped to meet their expectations?<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/info.adp.com\/za-services?utm_source=BusinessTech&amp;utm_medium=Article&amp;utm_campaign=June+2023\" data-type=\"URL\" data-id=\"https:\/\/info.adp.com\/za-services?utm_source=BusinessTech&amp;utm_medium=Article&amp;utm_campaign=June+2023\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Click here to download the free ADP guide. <\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<p>Despite a 6.4% average increase in pay for six in 10 employees last year, the desire for higher salaries continues to grow.<\/p>\n\n\n\n<p>According to ADP\u2019s <em>People at Work 2023: A Global Workforce View<\/em>, optimism about pay increases remains high across industries.<\/p>\n\n\n\n<p>Setting aside the question of affordability, if you\u2019re responsible for payroll there will be a long list of questions that need answering.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Do you have visibility of pay data?<\/strong><\/h3>\n\n\n\n<p>When it comes to deciding who deserves what, can you easily see what your employees are doing and earning?<\/p>\n\n\n\n<p>ADP\u2019s research reveals that 73% of companies lack the necessary payroll data to achieve this level of visibility.<\/p>\n\n\n\n<p>Without a comprehensive understanding of your workforce\u2019s contributions and compensation, making fair and strategic decisions becomes a challenge.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Can you create reports easily?<\/strong><\/h3>\n\n\n\n<p>The demand for timely, insightful reporting is growing rapidly, with 98% of business leaders expecting payroll data to inform their strategies.<\/p>\n\n\n\n<p>Whether your business is experiencing organic growth or navigating mergers and acquisitions, accurate modelling, forecasting, and reporting are vital for informed decision-making.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Are your results based on integrated data?<\/strong><\/h3>\n\n\n\n<p>ADP\u2019s research indicates that 74% of companies are still running different payroll systems across multiple geographies.<\/p>\n\n\n\n<p>This lack of integration creates obstacles and complicates decision-making processes, hampering efficiency and effectiveness.<\/p>\n\n\n\n<p>Considering these challenges, businesses must address the need for streamlined and integrated payroll systems that enable quick access to accurate data and facilitate seamless decision-making processes.<\/p>\n\n\n\n<p>Embracing technology and partnering with payroll service providers can empower organisations to overcome these hurdles and pave the way for efficient, future-ready payroll operations.<\/p>\n\n\n\n<p><a href=\"https:\/\/info.adp.com\/za-services?utm_source=BusinessTech&amp;utm_medium=Article&amp;utm_campaign=June+2023\" data-type=\"URL\" data-id=\"https:\/\/info.adp.com\/za-services?utm_source=BusinessTech&amp;utm_medium=Article&amp;utm_campaign=June+2023\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Download the full report to find out more.<\/strong><\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n","protected":false},"excerpt":{"rendered":"<p>The anticipation of wage increases among employees is reaching new heights as revealed in ADP\u2019s Research Institute\u2019s People at Work 2023: A Global Workforce View report. Businesses need to take proactive steps in aligning their payroll functions with rising expectations and increased demand.<\/p>\n","protected":false},"author":57,"featured_media":696503,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10459],"tags":[17745],"class_list":["post-696205","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-news","tag-adp"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/696205","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=696205"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/696205\/revisions"}],"predecessor-version":[{"id":696663,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/696205\/revisions\/696663"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/696503"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=696205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=696205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=696205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}