Organisations are potentially exposing themselves to HR and payroll compliance gaps due to outdated workforce management systems not keeping up during the COVID-19 pandemic.
Nick Bailey, Senior Vice President – Asia Pacific and Japan at WorkForce Software, says that forward-looking CFOs must pay attention to these systems to stay ahead.
“The right workforce management solution is the linchpin to making the most of a change in your operating model because it can identify workforce optimisation options with numerous business advantages,” Bailey says.
Many of the world’s largest HR teams struggled to keep up with Australia’s complicated and shifting employment laws and pay rules well before COVID-19. Add to it the upheaval and new regulations from the pandemic and the risk and liability of non-compliance have never been greater.
In Australia, pandemic leave, workers needing more flexible hours to juggle homeschooling or caring for elderly parents, government-mandated health and temperature checks for shift workers all created additional layers of complexity for employers during already extraordinarily stressful times.
Maximising growth and minimising these kinds of risks are critical themes for CFOs with their eye on growth in 2021.