Employment of payroll and timekeeping clerks is expected to grow about as fast as average for all occupations through 2014. In addition to job growth, numerous job openings will arise each year as payroll and timekeeping clerks leave the labor force or transfer to other occupations. Those who have completed a certification program, indicating that they can handle more complex payroll issues, will have an advantage in the job market.
As entering and recording payroll and timekeeping information becomes more simplified, the job itself is becoming more complex, with companies now offering a greater variety of pension, 401(k), and other investment plans to their employees. Also, the growing use of garnishment of wages for child support is adding to the complexity. These developments will fuel the demand for payroll and timekeeping clerks, who will be needed to record and monitor such information.
Firms increasingly are outsourcing the payroll function. As a result, the best employment opportunities are expected to be in companies that specialize in payroll, including companies in the employment services industry and the accounting, tax preparation, bookkeeping, and payroll services industry. Many of these companies are data processing facilities, but accounting firms also are taking on the payroll function to supplement their accounting work.
The increasing use of computers will limit employment growth of payroll and timekeeping clerks. For example, automated time clocks, which calculate employee hours, allow large organizations to centralize their timekeeping duties in one location. At individual sites, employee hours increasingly are tracked by computer and verified by managers. This information is compiled and sent to a central office to be processed by payroll clerks. In addition, the growing use of direct deposit will reduce the need to draft paychecks, because these funds are transferred automatically each pay period. Also, more organizations are allowing employees to update their payroll records electronically. In smaller organizations, payroll and timekeeping duties are being assigned to secretaries, general office clerks, or accounting clerks. Furthermore, the greater complexity of the job, coupled with the automation of records that is simplifying data entry, is resulting in payroll professionals, not payroll and timekeeping clerks, doing more of the work.