Global recruitment trends in payroll: A data-driven analysis

Payroll

Author John O’Brien

augustus 1, 2024

The payroll sector is undergoing significant transformations worldwide, driven by various economic, technological and regulatory factors. Analyzing current global recruitment trends in payroll through data offers valuable insights for both job seekers and employers. This article explores the most significant trends in payroll recruitment, backed by recent data and statistics.

Shift to Cloud-Based Payroll Systems

The adoption of cloud-based payroll systems is becoming a global standard, offering enhanced flexibility, security and efficiency.

According to a report by Deloitte, 74% of organizations have transitioned to cloud-based payroll solutions or are planning to do so within the next two years.

This shift is increasing the demand for payroll professionals with expertise in cloud payroll software such as ADP, Workday and SAP SuccessFactors. Employers are seeking candidates who can manage these systems and ensure seamless payroll operations.

% of organizations have cloud-based solutions

Integration of Payroll with HR and Finance

The integration of payroll with HR and finance systems is streamlining operations and improving data accuracy.

A survey by PwC indicates that 65% of companies are integrating their payroll systems with HR and financial systems to create a more unified approach to employee data management.

Payroll professionals need to possess a broader understanding of HR and financial processes. Skills in data analytics and the ability to work collaboratively across departments are becoming increasingly valuable.

% of companies are integrating payroll systems

Author

John O’Brien

Executive Director | Head of Payroll

johnobrien@frazerjones.com

+44 20 7415 2171

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Jobs

Banking

Payroll Administrator

Payroll Administrator £150-200 per day – 6 week assignment – Charing Cross My client is a leading FS firm. Due to acquisition, they are seeking a Payroll Administrator to help them until Christmas on a piece of work to set up a new UK entity. The role will involve: Maintaining employee data changes in Cascade […]

Salary GBP150 – GBP200 per day
Posted 3 dagen geleden geplaatst

Banking

Payroll & Benefits Specialist

Payroll & Benefits Specialist – £50-55K (negotiable) 6 month FTC – Liverpool Street My client is a leading name within financial services. Currently they are seeking a Payroll & Benefits Specialist to join them on a 6 month FTC that has every possibility to be made permanent for the right individual. To be considered successful, […]

Salary GBP50000 – GBP55000 per annum
Posted 5 dagen geleden geplaatst

Banking

Payroll Consultant

Payroll Consultant – £300-400 per day – 6 week assignment – Charing Cross My client is a leading FS firm. Due to acquisition, they are seeking a Payroll Consultant to help them until Christmas on a piece of work and require a payroll professional who is a super-user of Cascade. To be considered successful, the […]

Salary GBP300 – GBP400 per day
Posted 6 dagen geleden geplaatst

Banking

Workday Payroll Specialist

Workday Payroll Specialist – Day rate – 4-6 week assignment – Bank My client is a leading FS firm. Due to a payroll implementation of Workday, they are seeking a Payroll Specialist well acquainted with the system to help them out on a 4-6 week assignment (could extend to 8 weeks). To be considered successful, […]

Posted 4 weken geleden geplaatst

Professional services

Payroll Project Specialist

Payroll Project Specialist – Salary negotiable – 6 month FTC – Blackfriars My client is a leading business within financial and professional services. Due to a payroll implementation, they are seeking a Payroll Project Specialist to join them on a 6 month assignment. To be considered successful, the ideal candidate must – have worked on […]

Salary GBP60000 – GBP65000 per annum
Posted 4 weken geleden geplaatst

Banking

Workday Payroll Implementation Consultant

Workday Payroll Implementation Consultant – Day rate negotiable – 6 month assignment – St Paul’s Our financial services client is in the midst of a payroll Workday implementation project. Currently they require someone to come in and see the project implementation to conclusion. To be considered successful, the ideal applicant must – have proven experience […]

Posted 4 weken geleden geplaatst

Increased Focus on Compliance and Regulatory Knowledge

With changing regulations across different regions, compliance remains a top priority in payroll management.

The Global Payroll Management Institute (GPMI) reports that 78% of payroll professionals see compliance with local and international regulations as their biggest challenge.

Employers are looking for payroll specialists with deep knowledge of regional and global payroll regulations. Certifications such as Certified Payroll Professional (CPP) and Fundamental Payroll Certification (FPC) are in high demand.

% of payroll professionals see compliance as their biggest challenge

Demand for Data Security and Privacy Expertise

The growing emphasis on data security and privacy is shaping recruitment in the payroll sector.

According to a report by KPMG, 68% of companies have increased their investment in data security for payroll systems over the past year.

Payroll professionals must be well-versed in data protection laws such as GDPR and CCPA. Expertise in cybersecurity measures and data encryption technologies is becoming essential to protect sensitive payroll information.

% of companies have increased their investment in data security for payroll systems

Automation and AI in Payroll Processing

Automation and artificial intelligence (AI) are transforming payroll processing, enhancing efficiency and accuracy.

A study by EY reveals that 60% of payroll tasks can be automated using current technology, with AI playing a significant role in reducing manual errors.

There is a growing demand for payroll professionals who can manage and implement automation tools and AI technologies. Skills in programming and familiarity with robotic process automation (RPA) are advantageous.

% of payroll tasks can be automated

Global Payroll and Multi-Country Expertise

As business expand internationally, there is an increasing need for payroll professionals with multi-country payroll experience.

The 2023 Global Payroll Survey by EY shows that 55% of multinational companies consider global payroll expertise a critical requirement for their payroll teams.

Payroll specialists with experience in managing payroll across multiple countries, understanding diverse tax regimes and handling cross-border compliance are in high demand. Language skills and cultural awareness also enhance employability in the globalized field.

% of multinational companies consider payroll a critical requirement

Conclusion

The global payroll recruitment landscape is evolving rapidly, influenced by technological advancements, regulatory changes and shifting workforce dynamics.

Understanding these trends through data provides valuable insights for navigating the payroll job market effectively.

Employers need to adapt their recruitment strategies to attract and retain top payroll talent, while payroll professionals should focus on acquiring skills that align with these emerging trends. As the market continues to change, staying informed and agile will be key to success for all stakeholders in the payroll sector.

For a confidential discussion on recruiting payroll professionals, your payroll career or the market in general please get in touch with John O’Brien today.