Payroll KPIs to be developed

Every department in every organisation needs a set of metrics to assess effectiveness, measure strengths, weaknesses, opportunities and threats. The intention of these measures, or KPIs, is to highlight improvements that can be made.

So, why don’t payroll professionals have KPIs already? The simple answer is that nobody has thought about the need or, at least, engaged with the profession to establish them - until now.

Yesterday (April 27), i-Realise welcomed more than 150 payroll professionals to a webinar to launch what aims to be a definitive set of payroll KPIs.

Payroll consultants Ian Holloway and Adrian Axtell introduced seven KPI categories, explaining how every business can use these measures. This was followed by a look at the future evolution of KPIs and the possibilities for payroll.

Polling during the event backed up the need for a set of KPIs:

• 50 percent of respondents only have ad-hoc measures in place;
• 30 percent have no KPIs in place at all;
• Over 70 percent of respondents believe the payroll profession needs a strategic matrix of KPIs.

At the end of the webinar, attendees were invited to join i-Realise to continue developing the proposed KPIs into a definitive industry standard. If you would like to get involved please email marketing@i-realise.co.uk

To watch the on-demand recording of the webinar, please click here.