HRO Today September 2016 - 66

Payroll
Take a Closer Look
SaaS-based compensation solutions offer layers of valuable data that
go way beyond just pay.
By Aaron Hurst and Jayson Saba
When all else fails, trust payroll data. The reality is that
in most companies, there is no single source of truth for
people-related data. Often, companies either have multiple
HR systems or rely on spreadsheets to make sure they are
reconciling all of the different data sources. In these cases,
payroll data becomes the most trusted source. It is hard
for a company to mess that up. Plain and simple, if they
do, they will either hear it from employees or from the IRS.
While the holy grail is a single application for HR, payroll,
workforce management, time and attendance, and talent
management, most companies aren't quite there yet.
In fact, research from Sierra-Cedar's annual HR Systems
Survey report shows that 98 percent of companies still rely
on Microsoft Excel for reporting and analytics, and less
than half (43 percent) have embedded analytics in the HR
management system (HRMS) of record. Nonetheless, the
same research shows that 99 percent of companies have a
payroll system in place.
Information in the payroll system provides a real-time
snapshot of the company. Historically, payroll systems were
primarily used to pay employees accurately and on time and
to keep the company compliant with tax laws. The challenge
with legacy systems, however, was that the data batched
into a mainframe had to be closed at a certain date and
time. The result is often that the information is old, stale,
and limiting in how a company can use it to enable better
decision making. Furthermore, legacy payroll systems lacked
any time of advanced reporting beyond labor costs for the
previous weeks and the tax data fi led with local, state and
[66]
HRO TODAY MAGAZINE | SEPTEMBER 2016
federal entities. Software-as-a-Service (SaaS) solutions are
shifting the paradigm. With a calculation engine constantly
running in the background, SaaS payroll enables companies
to get better real-time insight into their workforce. A
SaaS-based, globally-aligned payroll system can also offer
insight into company performance, employee retention, top
talent, and key positions to allow for decisions that optimize
organizational costs and workforce strategies.
Types of Payroll Data
The data that is collected in the payroll application can be
very valuable for a company. Hire and termination dates
tell one story, change in organization or job code or a pay
increase tells another, and general headcount and payroll
costs tell another.
For reference, let's assume in this example a company has
a true single SaaS payroll application for U.S., Canada, and
the U.K. The transactional data collected in the application
can inform the company immensely in several ways:
* Headcount. Headcount data gives visibility into yearto-date
numbers across the enterprise-in different
countries and different departments/functional areas.
When combined with the number of open requisitions,
it provides insight into vacancy rates. This data allows
HR to determine where resources need to be invested to
bring more candidates and therefore better hires ino the
company. There are companies that use this data, in part,
to review the performance of the HR business partner

HRO Today September 2016

Table of Contents for the Digital Edition of HRO Today September 2016

HRO Today September 2016 - 1
HRO Today September 2016 - 2
HRO Today September 2016 - 3
HRO Today September 2016 - 4
HRO Today September 2016 - 5
HRO Today September 2016 - 6
HRO Today September 2016 - 7
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