It’s predicted that by 2020, the global workforce would be dominated by millennials (35%) and generation X (35%). That means by next year, over 70% of the global workforce will be under the age of 40. A younger workforce presents knock-on effects for the entire business. As an employer, you need to adapt to meet the expectations of this new generation of employees; they’re very different from the workforce that preceded them. Having grown up using the internet as second nature, these young employees are true digital natives and have never known a world without it.
Take, for instance, payroll. With payment technologies evolving, millennials have become some of the fastest adopters of mobile and digital payments. Their influence on mobile payroll adoption cannot be ignored. The simple fact is these new generation employees don’t do paper forms. They are increasingly looking for digital options to access payslips and apply for annual leave.
In recent years, employees are using holiday time differently than previous generations, with the average leave duration reduced to just 2.34 days. This alone creates new challenges for payroll and HR managers. Shorter, more frequent bursts of annual leave tend to be requested last minute rather than planned in advance. It is important for employers and HR personnel to be able to quickly review and approve leave requests.
Mobile payroll solutions, such as BrightPay Connect, are an ideal way to improve the efficiency of your business, especially as new generation workers continue to integrate smartphones into every aspect of business operations.
As an employer, adopting these few features favoured by younger workers, along with the additional employer benefits (such as an automatic cloud backup of payroll data and instant access to payroll reports), you are guaranteed to improve the efficiency of your business and payroll processing.
Book a demo today to find out how you can benefit from BrightPay Connect.