Payroll trends and predictions for 2020

Technology, cloud computing and social media will bring big changes to payroll
By Shelley Ng
|Canadian Payroll Reporter|Last Updated: 12/20/2010

A payroll practitioner is on the bus to work. She logs into the payroll application via her smartphone using a retinal scan or fingerprint ID. She’s set to run the first payroll of the day as one of her project groups has completed a parcel of work and needs to be paid. She arrives at the office to generate a report for the vice-president of HR on short-term and long-term disability costs. She orders paycards, reads up on a new employment standard, then reviews the output for the second payroll of the day.

Although this whole scenario may seem far-fetched, it is likely an accurate depiction of a day in the life of a payroll professional a decade from now. Thirty years ago, many employers still paid workers in cash via pay packet and, just 10 years ago, web-enabled payroll solutions were a game-changing innovation. Today, biometrics, payroll on-demand, web-based applications and analytics are upon us. What is causing these dramatic changes?

3 macro-trends: globalization, demographic shift and technology