I want to know what's the future in payroll management?
I am working as a recruiter and I to make a shift to payroll, but before that I want to know the future career prospects i payroll management.
Is it necessary for me to start a career with a consultancy only or can i be hired by a company too for this?
Also, I want to know if there are any courses that can help me increase my acumen in the same.
Regards Deepti

From India, Delhi
Deepti,
Payroll Management is a good career provided as under:
1) You have in depth knowledge of compensation structures, tax laws, PF, ESIC, other statutory compliences related to compensation.
2) You also have the knowledge of compensation benchmarks, variable pay and compensation percentile.
3) You are ready to work outsource copmanies, e.g. big multinational copmanies has thier own shared services.
4) You have the knwoledge of ex-pat compensation.
5) You are ready to work under pressures during payroll cycle, increment cycles etc.
6) You are ready to face payroll audits
Now a days copmanies are either outsourcing or transfering the payroll to shared services where the compensation and benefit manager has the scope.
Don't restrict your growth to onlypayroll management professional but try to be compensation benefit professional where this professional also overseas Payroll Management.
Best Luck.
Regards,

From India, Pune
Thanx Vinod,
I also want to know how should i kick start my career in this area of HR.
As you said there are many consultancy firms offering payroll jobs bt I dont see any growth with it plus the salary offered is way too less.
Companies ask for good exp before they hire you coz of market situations.
Where should I start from and if there are any courses and good institute plz do let me knw about it.
Regards,
Deepti

From India, Delhi

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