Payroll experts line up to offer insights on how to stay compliant and avoid costly mistakes
The vast majority of HR professionals – as many as 70%, according to Dayforce’s recent survey – report that payroll compliance has grown more complicated over the past two years. With only 25% of organisations agreeing their payroll technology is keeping pace with regulatory changes, it’s clear that managing compliance in the modern workplace is a significant challenge.
The reasons? Diverse worker types, rapidly changing regulations, and the increased use of AI and automation are making compliance more difficult than ever before.
To confront these challenges head-on, Dayforce experts will be hosting a webinar titled Navigating the Regulatory Maze of HR and Payroll Compliance, where they will delve into the major payroll compliance issues facing organisations today and provide practical strategies for overcoming them.
Designed for HR professionals who want to stay compliant and avoid costly mistakes, this session is especially relevant for those in Australia and New Zealand. According to Dayforce, these countries have “some of the world’s most complex workplace laws,” which makes compliance a “critical concern”.
As the nature of work evolves, so does payroll complexity. Dayforce highlights that payroll compliance requires a modern approach, one that can manage the shift in employment types and navigate a continually changing regulatory landscape.
In addition, Dayforce’s survey reveals that only “25% of organisations agree that their payroll tech provider has kept up with regulatory changes over the past year,” while “just 13% strongly agree that their payroll systems effectively help manage industry or country-specific compliance.” While technology has often been seen as the solution to simplify compliance, Dayforce highlights that it needs to come from the right vendor with the right knowledge.
“Vendors should keep pace with workforce regulatory updates in the organisation’s jurisdictions, and the solution must be built with compliance in mind so it can be updated as needed – sometimes, even on the fly,” a Dayforce spokesperson highlights.
Beyond technology, training is equally essential. HR teams need to be up to date with the latest regulatory updates to ensure that what’s in the system is correct, and training and upskilling HR teams to properly manage compliance is key to this.
Finally, Dayforce highlights a significant gap in data accessibility between executives and managers. Its study found that while “most executives (88%) somewhat or strongly agree that they have the data they need to make competitive compensation decisions, managers don’t feel as confident (72%).”
Navigating the Regulatory Maze of HR and Payroll Compliance will discuss the ‘complexity crisis’ in compliance, the current frameworks in Australia and New Zealand, and best practices and proactive strategies for managing compliance. It will also touch on how to build a compelling case for HR and compliance best practices.
“Our webinar is designed to empower HR leaders with the knowledge and tools necessary to proactively manage compliance, prevent costly HR mistakes, and foster a culture of compliance within their organisations,” Dayforce explains.
The webinar will run on 7 November at 11am AEDT. To find out more and register, click here.
