Research from the World Economic Forum (WEF) states that the great resignation highlights the importance to understanding why people are leaving and what can be done to prevent the great resignation. It also calls for a data-driven approach to determine not just how many people are quitting, but who exactly has the highest turnover risk.
Dr. Isabell Welpe, from the Technical University of Munich, told the WEF that workplaces now have to make fundamental organisational decisions in order to prevent mass resignations within their workforce. “What we can already see is that how we organise work and work together will not return to the way it was before the pandemic,” she stated.
“Many companies have announced that their employees never have to return to the office fulltime. I would expect to see a post pandemic work organisation as one that moves away from a one-size-fits-all approach towards one that allows individual and asynchronous organisation of work and work settings.”
In the shape-shifting wake of COVID-19, companies the world over are renewing efforts to improve operational efficiency and cut costs, anticipating the difference these actions could make to their longer-term business performance.
The pandemic exposed lingering structural problems in payroll, revealing a pressing need for the function to evolve from unpredictable and reactive to data-driven and strategic.
These issues look set to intensify as firms face ongoing difficulties in recruiting payroll professionals with sufficient strategic, technical and analytical know-how.
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Why payroll maturity matters
The three phases towards transformation
The technological capabilities needed to expand