'Chief Payroll Officers' Are Coming… 5 Skills You Need to Get There!
Tom Croughton
Co-Founder of JGA US | Connecting your business to the brightest minds in HR Tech & Global Payroll?? LinkedIn Top Recruiting Voice???
Hey All,
As someone who has the privilege of working with hundreds of talented Global Payroll Directors for close to a decade (wow – time flies!) – I know firsthand the dedication, expertise, and sheer grit it takes to reach this level of success.
You've earned every stripe through countless hours of study, tackling complex projects, navigating change, and pouring your heart and soul into your work.
But here's the thing: For many of you, reaching the role of Global Payroll Director feels like the end of the road…
You've climbed the mountain, but now you're wondering, "What's next?"
Maybe you're not interested in moving into consulting or starting your own company, but you still have that fire inside you, that drive to make an even bigger impact.
Well, I've got some exciting news for you…
The future of payroll is evolving, and I firmly believe that we're on the cusp of a new era:
The rise of the Chief Payroll Officer.
At JGA, we've been beating the drum for years, tirelessly advocating for payroll to get the recognition and respect it deserves.
We know that payroll professionals play a critical role in the success of businesses worldwide, and through my interactions over the last 12 months or so, I think boardrooms are starting to wake up to this too! ?
The Chief Payroll Officer isn't just a pipe dream - it's the logical next step for Global Payroll Directors who are ready to take their strategic impact to the next level.
It's a role that demands a unique blend of technical expertise, business acumen, and leadership skills, and I know that many of you are already well on your way to embodying these qualities.
I also aware that many of you have already mastered all the required qualities and competencies, but your employers have yet to recognize your readiness for the next step in your career progression!
So, without further a-do, let’s dive into my personal view of how a Global Payroll Director prepares themselves to transition into a Chief Payroll Officer with the top 5 skills you’ll need to master!
1) Elevating Strategic Vision & Business Acumen
As a Global Payroll Director transitioning to a Chief Payroll Officer, you must elevate your strategic thinking and business acumen to the next level.
This involves not only aligning payroll strategies with the organization's goals but also proactively contributing to the development of overall business strategies.
By demonstrating your ability to anticipate challenges, identify opportunities, and provide data-driven insights, you can position yourself as a strategic partner to the C-suite and board.
2) Mastering Global Compliance & Risk Mitigation
In the role of a Chief Payroll Officer, your responsibility for global compliance and risk mitigation expands significantly.
You must have a deep understanding of the regulatory landscape across all jurisdictions in which your organization operates.
This involves staying ahead of legislative changes, ensuring compliance with local laws and regulations, and proactively identifying and mitigating potential risks.
By demonstrating your ability to navigate complex compliance challenges and safeguard the organization, you can establish yourself as a trusted advisor and risk management expert.
3) Leading Transformational Change & Innovation
As a Chief Payroll Officer, you will be expected to drive transformational change and innovation within the payroll function and beyond.
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This involves not only adapting to new technologies and best practices but also proactively identifying opportunities for process improvement and automation.
You must be able to lead cross-functional teams through complex change initiatives, foster a culture of continuous improvement, and champion innovation across the organization.
By demonstrating your ability to drive tangible results and create value through change, you can position yourself as a transformational leader.
4)Building Strategic Partnerships & Ecosystems
In the role of a Chief Payroll Officer, your ability to build strategic partnerships and manage complex ecosystems becomes even more critical.
This involves not only managing relationships with payroll vendors and partners but also collaborating with other functions such as HR, Finance, and IT to drive integrated solutions.
You must be able to identify and nurture strategic partnerships that can help drive innovation, efficiency, and value creation.
By demonstrating your ability to build and manage high-performing ecosystems, you can position yourself as a strategic partner and value driver.
5) Driving Global Leadership & Influence
As a Chief Payroll Officer, your leadership and influence must extend beyond the payroll function to the global stage.
This involves not only leading and inspiring diverse teams across different cultures and geographies but also representing the organization externally as a thought leader and industry expert.
You must be able to navigate complex stakeholder relationships, build trust and credibility with senior leaders, and influence decision-making at the highest levels.
By demonstrating your ability to lead with vision, empathy, and influence, you can position yourself as a global leader and change agent.
By developing and showcasing these essential skills, you'll be well-equipped to take on the opportunities (& challenges!) of the ‘CPO’ role and your seat on the C-Suite.
Whether you're an aspiring payroll leader or a seasoned professional looking to take your career to the next level, focusing on these key areas will help you stand out and make a lasting impact.
As mentioned earlier – at JGA, we've been dedicated to 'raising the profile of payroll' for years, and we will continue to do so until payroll gets the recognition it deserves. Find our payroll related content below:
We understand the critical role that payroll professionals play in the success of businesses worldwide, and we are committed to supporting and empowering them every step of the way.
WHEN the CPO role finally becomes a reality, you can bet that I'll be the first person in line to help organizations find the perfect candidate for this game-changing position!
The emergence of the Chief Payroll Officer is not just a trend; it's a necessary evolution of the payroll profession.
By mastering the 5 essential skills outlined in this article, you'll be well-prepared to take on this exciting new challenge and make a lasting impact on your organization and the industry as a whole.
Please let me know your thoughts on this article and if there are any skills you would change, add or remove!
Until next time team!
Tom Croughton
Co-Founder | JGA US
Director | JGA UK
HR Lead | People Experience | (Digital) HR Services | Payroll | Transformation | Program Mgmt | Entrepreneur | ex-Unilever
7 个月Super nice article. If it eventually will become a C role is maybe less important but it is for me a nice reflection that we, payroll professionals should be very (and more) proud of what we do and our impact. I refer to it in my team as ‘bringing the back to the front’.
Payroll Strategy & Transformation Lead at VirginMediaO2
7 个月Great article Tom, but let’s not forget we’ve come along way since the payroll was tasked to the work of the wages office !
Payroll Manager
7 个月I love the article and totally agree payroll should be given the merit it deserves, unfortunately as others have said payroll seems to fall under finance or HR and there are still a small number of businesses who do not give the credit for the expertise we have and need to keep up to date with and think it is just our job, here’s hoping the future will change?
Senior Technology Consultant @ UKG | UKG PRO HR & Payroll
7 个月I love the article Tom, however I agree with Emma. In the US, Payroll generally falls under Finance or HR. I’ve been involved with payroll for over 25 years and still people believe payroll is just the act of pushing a button. It would be absolutely wonderful to see those that make sure our employees are paid on time and correctly get the recognition they deserve and are able to advance beyond Manager or Director.
Payroll Consultant, Payroll leader, Transformation and implementation projects, project manager
7 个月Globally we see this getting better but unfortunately in many UK large businesses we still only see the highest level being that of a payroll manager. I still feel there is a stigma that payroll should operate invisibly and fall within Finance or HR and until more businesses realise the importance of their payroll teams then I’m afraid we cannot evolve into the roles that we so desire.