It could be argued that for every working individual, payday brings the feeling of joy, excitement and often relief. But who makes that money appear in your bank? Who calculates your overtime? Who makes sure you get the financial benefits you deserve for committing your time and attention to work? You guessed it… Payroll Professionals.
As you may already know, this week (3rd to 7th of September 2018) is National Payroll Week in the UK. During national payroll week, celebrate payroll for what it is: more than just numbers. Payroll is a skilled process, not just a job title. As the largest expenditure overall across all UK industries, we should recognise that payroll processing is more than just data entry, and instead, more of a technical action that ensures job satisfaction.
Aside from ensuring employees are paid in an accurate and timely manner, payroll professionals ensure the morale and subsequent motivation of employees is established and maintained, across all companies. The key step to ensure these errors are limited to a minimum are, of course, having the right people in charge of your wage/salary processing.
Payroll is not a broad finance role, there are specialist aspects that are complex in nature and take time to adopt and master. This specialism can be clearly highlighted by the drastic year-on year increase to payroll salaries- more than any other within the finance and accountancy sector. Payrollers should be respected, and as such, recognized for their work. According to the Chartered Institute of Payroll Professionals (CIPP), through income tax and national insurance, payroll contributes £4.46b to our nations economy, a gargantuan financial input to say the least.
Payroll is no easy process, and as such this week aims to highlight just that. To all the payroll staff reading this, keep doing what you’re doing, #KeepUKPaid.
Original Author, James Wisener