New research by The Hackett Group
Payroll and workforce management applications have a significant amount of data that can help HR, finance and business leaders make stronger, better business decisions. Few organizations, however, are fully utilizing this data. Traditionally, payroll and workforce management data have been used simply to report what happened. New digital tools are making it easier for payroll to parse data for root causes of problems or leverage it to make predictions of future outcomes.
- A global payroll strategy, including data management, is needed to enable payroll analytics.
- Payroll data can complement HR and finance data to inform decisions about how to increase process productivity and reduce costs.
- Payroll data can be used as the basis for dashboards that help HR, finance and business leaders monitor current workforce performance and model different operations and staffing strategies.
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