What recent trends and changes have affected the payroll industry and how is this effecting what hiring managers are looking for when it comes to recruitment?
Sharp Consultancy has been at the forefront of transactional financial recruitment across the North for more than 25 years. Our highly experienced specialist team has an extensive network of talented candidates for roles across the full spectrum of levels within accounts payable, credit control, payroll and purchase ledger.
With established and trusted relationships with leading businesses and organisations throughout Yorkshire and the North of England, we offer expert knowledge and unrivalled understanding of the marketplace to enable you to access to the very best employment opportunities in the region and make the ideal next career move.
During National Payroll Week (Mon 6 – Fri 10 Sep), our team of specialist consultants will be sharing their in-depth knowledge and expertise and offering the best possible recruitment advice to employers and candidates working in the sector.
Today, Andrew Walker, Commercial Director looks at recent trends and changes and what hiring managers are looking for when recruiting payroll professionals.
Over the last ten years or so there has traditionally been a focus on recruiting candidates with particular experience, usually in relation to changes in legislation such as RTI, auto enrolment or most recently the Government furlough scheme. We are also now seeing much greater importance being placed upon qualifications, in particular the Chartered Institute of Payroll Professionals (CIPP).
Having fully trained payroll professionals is vital for organisations to ensure they remain compliant with the increasing number of regulations and legislation which impacts on the day to day running of a payroll department.
CIPP is the only Chartered Institute for payroll and pension professionals in the UK, and the training that they provide develops and formalises payroll knowledge and skills and demonstrates to employers that candidates with such qualifications work to the highest standards in the industry. In addition, CIPP members have access to the latest news and potential upcoming changes to ensure they are on the front foot to proactively respond to any updates and recommendations.
Traditionally, payroll was viewed as a more administrative role with far less emphasis placed upon qualifications when compared with today’s demands. However, due to the increasing amount of regulations and legislation, the way that payroll is now viewed has changed significantly and it is seen much more as a value-added role.
Due to a shortage of qualified candidates, companies should now be investing in training and qualifications such as the CIPP for their payroll staff, in a similar way to they do for accounts staff with AAT, ACCA or CIMA. And as a result – alongside the increased demand for payroll professionals due to changes in regulations and legislation – employers also want, need and can expect more from individuals in areas such as management information and reporting.
Those pursuing a career in payroll who hold such qualifications are seen as a very attractive prospect to employers and similarly, those companies which view qualified payroll professionals in the same way as accountants have been seen and offer formal training and professional qualifications, such as offering CIPP courses, will stand-out to candidates looking to make their next move. Those who do not offer adequate investment in training and development will find it harder to compete for the best talent and may also find that they are on the back foot when it comes to retention as demand for payroll staff continues to rise.
Sharp Consultancy specialises in the recruitment of temporary, interim and permanent transactional finance professionals across the full spectrum of roles including accounts payable, credit control, payroll and purchase ledgers. With offices in Leeds and Sheffield our highly experienced team of consultants recruit for positions throughout Yorkshire and beyond. CONTACT US today to find out more.