2024 Australian Payroll Survey Revealed

The Australian Payroll Association's 2024 Australian Payroll Survey Results have been published, and a few key findings stand out that I believe leaders need to be aware of. Let's dive in!💼

PAYROLL TECHNOLOGY

📊 41.1% of employers are expected to review their payroll technology in the next 12 months. This indicates that many employers are either dissatisfied with or have outgrown their current payroll solutions. It's a prime opportunity for payroll tech vendors to offer better, more flexible solutions.

Steve Jordan, co-founder of BundyPlus™ said "Don't lock yourself into a time capture technology that can't adapt with you. BundyPlus™ isolates the task of collecting employee clockings and approving employee timesheet data from payroll. This approach offers significant benefits: If you decide to change payroll vendors, there's no need to re-onboard employees to a new platform. Avoid additional installation costs and achieve better ROI on existing physical time clock terminals."

CURRENT PAYROLL CHALLENGES

📉 34.0% of respondents identified the leading risk as poor or incomplete data coming into the payroll office. This highlights the importance of accurate data for efficient payroll processing. Errors can lead to incorrect payments and compliance issues with tax and other statutory requirements.

"Collect as much data as possible at the source. Accurate and auditable employee time and attendance records are crucial. BundyPlus automated workrules detect and highlight errors before payroll processing, helping ensure accurate and compliant payroll." said Steve Jordan, co-founder of BundyPlus™ 

Ready to optimize your payroll process? Let's work together to address these challenges and make payroll processing more efficient and accurate for all. Schedule a free workforce strategy meeting with us today to explore how we can help you tackle these challenges and enhance your payroll operations!

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