WHAT IT TAKES TO BE A PAYROLL MANAGER IT’S NOT ALL BLACK & WHITEhays.net.nz/payroll-manager

“At Hays, we are very proud of the strong relationships we have with Payroll Managers and their employers. We’re also proud of our commitment to providing valuable insights that benefit individuals at every level of their careers.”

It was for this reason that we surveyed 430 Payroll Managers to uncover the qualities that make a great Payroll Manager.

Jason WalkerManaging DirectorHays New Zealand

BACKGROUND & QUALIFICATIONS

Just 30% of Payroll Managers have no post school qualifications.

Of the remaining 70% a degree or above is the most common qualification (held by 28%), followed by a diploma (27%) then certificate (21%).

On-the-job learning therefore plays a crucial role in the professional development of payroll professionals.

BACKGROUND & QUALIFICATIONS

Our survey shows that over half (57%) of today’s Payroll Managers did not start their career in payroll. These professionals have a wide range of prior experience and moved into payroll for various reasons.

92% would recommend a career in payroll.

Once they gain experience, today’s payroll professionals quickly see the benefits of a career in this field, so much so that they would willingly recommend a payroll career to others.

Read our report and find out if

Payroll Managers feel their job is

recognised as a career path

EXPERIENCE

Two-thirds of respondents held at least three roles before becoming a Payroll Manager.

When looking for your next role, look for an opportunity to advance your skills and understanding of payroll systems and relevant legislation and awards. Strive to become an expert by ensuring your skills continue to develop, either in-house or by changing roles.

TECHNICAL SKILLS

While the payroll system in use will help minimise errors, managing a team who are responsible for paying people accurately and on time and who are performing constant calculations, requires someone with a mathematical mindset who knows at a glance if certain figures on a spreadsheet do not seem correct.

Of the 45 payroll systems our respondents use, 16% use Chris 21 & 14% use Micropay Meridian.

A Payroll Manager needs a solid understanding of payroll legislationand awards (for example pay rates, superannuation, tax andbenefits).

We asked our survey respondents to nominate the top three skills needed to be a good Payroll Manager.

SOFT SKILLS

1. Attention to detail

Payroll can be a fast-paced working environment. By limiting distractions, double-checking your work, using checklists to keep track of details and slowing down to avoid small mistakes, you’ll learn to deal with the details.

2. Communication 3. Prioritising deadlines

Learn how to be friendly and professional but also firm when necessary, and take every opportunity to talk to awide range of people in your organisation. Importantly, learn to listen as well as talk!

Learn good organisational and prioritising skills by keeping and updating your own to-do list daily (or hourly). Volunteer for managing the timeline for a project. Be aware of deadlines and make sure you meet them.

PERSONAL CHARACTERISTICS

It makes sense that those who reach Payroll Manager and thrive in the role share certain personal characteristics. Our survey respondents were asked to select the top two characteristics that have helped them succeed.

‘Professionalism’ was the characteristic that was selected most often (52%). This was followed by ‘approachability’ (39%), ‘flexibility’ (27%), ‘adaptability’ (27%) and ‘resilience’ (26%).

Avoid water cooler gossip as you do not want to gain a reputation as someone who likes chitchat or scandal. Keep your knowledge up-to-date so you can reliably and competently answer questions correctly.

BIGGEST CAREER ACHIEVEMENTS

Successful system implementations were by far the biggest achievement listed by our surveyed Payroll Managers.

Other common achievements included successfully delivering a major project (such as a superannuation, time and attendance or payslip project), reducing or rectifying historical errors and transforming a broken department into a professional, supportive and fully functional team.

NETWORKING

Face-to-face remains the preferred method of networking, with 47% of Payroll Managers meeting and networking with other people in their sector at industry and technical events. Another 40% attend networking events..

55% of Payroll Managers are members of a Payroll Association.

If you are not a member of a relevant association join one and take advantage of their networking opportunities. Expand your connections, listen and learn from those around you, and be an active member of your sector.

Read our report and find out about

a Payroll Manager’s work/life

balance

RECRUITING FOR THE PAYROLL TEAM

When asked what issues the survey respondents have had recruiting payroll staff, 67% of them said the lack of available skilled candidates.

This was by far the biggest issue, ahead of a lack of budget to expand the team (37%), a new hire leaving within six months (15%) and internal political issues (14%).

When they recruit for their team, just 21% of Payroll Managers say systems knowledge is critical in a potential candidate.

CAREER CHALLENGES

47% of Payroll Managers say that organisational politics has been a challenge for them in their career.

Everyone needs to deal with organisational politics from time to time. Payroll Managers are no different.

Other career challenges have been the lack of opportunities available to grow their career (38%), a lack of mentoring, support, guidance or advice (27%), struggling to gain respect from stakeholders (23%) and a direct manager who does not support their development (21%).

Taking time off work for child rearing or a company’s perception of this has been a challenge for 16%, while 10% nominated barriers around gender.

Read our report and find out about

a Payroll Manager’s

professional challenges

FUTURE CAREER PATH

While many respondents told us they want to remain a Payroll Manager, albeit for a larger organisation or in a more challenging role, some expressed an interest in getting more involved in HR and remuneration, workplace relations, or system fixes. Severalmentioned moving into a more strategic HR role.

A few aspire to an Accounts Manager, Finance Officer, FinancialAccountant or Financial Controller role.

43% of Payroll Managers are happy with their current career and want to remain in the function.

For more information or to get your hands on a copy please visit hays.net.nz/payroll-manager or visit our website to find your nearest office.

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