Falling under the philosophy of ‘If it’s not broken, don’t fix it’, the way payroll functions today is based on outdated conventions and processes. Payroll is currently managed by firms on an individual and monthly basis. This encompasses the traditional payroll system seen throughout most of corporate America. Teams at SAP have thought about this issue and have blueprinted potential future functions and practices regarding payroll. Of these blueprints, a particular innovation revolves around a new notion of self-service payroll. Instead of a company’s payroll department facilitating a single monthly pay run, the system can be reinvented to allow individual employees to decide when and how much of their pay they demand.
I think such a change has the potential to cause major disruptions in the industry and economy as a whole. I say this because a self-service pay roll system could change consumer behavior based on their more flexible purchasing power and demand for money. This could increase economic activity but is accompanied by the risk of more irrational money management decisions. If such an idea can overcome the hurdles of existing regulations and policy, it may become an integral part of worker compensation management in the future.
http://diginomica.com/2017/02/02/digital-payroll-futures-thoughts-sap-others/