Transforming Payroll: The Troncmasters Story

Imagine a world where hospitality employees receive their hard-earned tips and wages with remarkable efficiency and transparency. This isn’t a distant dream, it’s a reality made possible by innovative payroll solutions. In the hospitality industry, where every penny counts, the fair and timely distribution of earnings is not just a convenience; it's a necessity. 

On the Humans of Payroll podcast, Melanie Pizzey and I interviewed Troncmasters’ Lead Product Manager, Katie Linstead. Here Katie discusses her transition from arts to payroll, industry intricacies, and the importance of recognizing individual strengths. 

This blog explores how modern payroll systems, like those provided by Troncmasters and One View, are transforming the way workers are compensated, ensuring people get the right pay on the right day.

Let’s dive in!

Troncmasters: Changing How We Tip In The Hospitality Industry

Troncmasters was founded to revolutionize hospitality by streamlining tip allocation and ensuring fair staff distribution. Post-COVID, the industry shifted from cash to card tips, emphasizing payroll processing for transparency and compliance in the evolving hospitality scene.

Troncmasters has been at the forefront of this transformation, particularly in how tips are allocated in the hospitality industry. The demand for their services has surged in line with the significant increase in weekly earnings for hospitality workers—a 53% rise between 2012 and 2022. This increase reflects not just hourly wages but the overall compensation, including tips managed through payroll systems. Troncmasters' innovative approach ensures that these earnings are distributed fairly and transparently. Which is ultimately our goal as payroll professionals. 

Rebuilding Hospitality: Challenges and Triumphs

It’s fair to say, that the hospitality industry was, and still is, one of the hardest hit with unprecedented and unpredictable challenges brought about by COVID-19. As businesses across the globe battled sudden closures, staff shortages, reduced footfalls, and mounting uncertainties, the pressing need for innovative and adaptive solutions became more evident than ever. 

Troncmasters didn't just play a key role in the sector's resurgence but also became instrumental in ensuring that the hardworking staff were aptly, and transparently, rewarded for their unwavering dedication during the most trying times the hospitality industry had ever faced. 

A key factor contributing to the hospitality industry’s resilience was its ability to adapt and change, particularly with regard to payroll processes and systems. Recent studies indicate that fair, transparent compensation is directly linked to employee satisfaction and performance. This research shows that innovative payroll systems are not just a nice-to-have, but also a competitive advantage for employee-centric businesses.

Fairness and Efficiency in Payroll Management

No two businesses are the same, that’s why services must be designed to meet the unique needs of each business and industry. Troncmaster’s expertise in setting up and managing tronc schemes ensures that employees receive their tips in a fair and cost-effective manner, without undue costs to the business. This service is a perfect example of the kind of innovation in payroll management we advocate for on our podcast. It's about creating systems that are not only compliant but also bring a sense of fairness and precision to the payroll process.

The Importance of Precision in Payroll

As a payroll expert, you can’t be expected to manage all the moving parts alone. You need robust technology and tools you have confidence in. 

At One View, our commitment is to simplify payroll processes while ensuring compliance and accuracy across different countries. By integrating advanced technology and expert knowledge, our systems deliver a seamless payroll experience, ensuring that employees are paid accurately and on time, regardless of their location. We’re leaders in the global payroll landscape because of our unique approach to handling complex payroll challenges. 

Decoding Payroll Communication: An Insider's View

In addition to precise and robust payroll systems, the importance of communication in addressing the varied payroll knowledge levels of different clients cannot be overlooked. In the interview, Katie emphasizes, "one thing that should be used more in payroll training is the psychological side of things, what makes a high-performing team function, and what makes people better communicators." 

Effective communication in the payroll domain isn't just about conveying information; it's an art and a science. Katie says that it requires a deep understanding of each client's unique needs and perspectives, ensuring clarity, precision, and understanding, especially when navigating the multifaceted and often intricate world of payroll. 

Working with a diverse range of clients demands adaptability and understanding, and Katie excels in turning challenging client relationships into profitable, long-term partnerships. Here are her top client management tips to build trust and respect in client relationships:

• Use kindness with challenging clients

• Understand and adapt to the client’s communication style

• Match your client’s tone

Innovative Leaders Are Needed To Make Long Overdue Change

Payroll systems have been tested in unprecedented ways over the past 3 years, but these challenges have also highlighted the need for dynamic payroll professionals who possess a unique blend of technical expertise and advanced “soft” skills. With different clients, business models, bureaus, and ways of working, the career and skill set of a payroll professional is anything but linear. For us, the sky’s the limit (something we don’t get to say too often).

When Katie landed her first temp job in HR and Payroll she was fresh out of college, with a suitcase full of travel memories, but she knew she needed experience and a foot in the door. Within 12 months Katie found herself climbing the ladder with ease but made the bold decision to move from a big, well-known hospitality bureau to a much smaller one. It's here she really hits her stride, soaking up experience in different scenarios and with a variety of different clients. 

Katie’s journey is a perfect example of how big fish in small ponds can often learn more than in the vast ocean of larger corporations. Now a senior leader, Katie focuses on improving her communication, coaching, and leadership skills. She understands that these skills are crucial for her growth as a leader.

Navigating The Complexities Of Global Payroll

The secret ingredient to a business's success, especially in challenging times, is its ability to innovate. This innovation extends to payroll systems, which are often the unsung heroes in a company's infrastructure. 

Choosing One View for your global payroll needs means embracing a solution that is not just about processing payments but about understanding the intricacies of global payroll management. Our approach is driven by our deep understanding of different payroll systems and regulations, as well as the importance of leadership and “soft” skills. One View's expertise in navigating payroll complexities ensures that businesses can focus on their core operations, confident in the knowledge that their payroll is in capable hands.

The Future of Payroll: A Technological Revolution

The solutions One View have developed are game-changers in the world of payroll management. Our vision for the future of payroll is a more integrated, efficient, and streamlined approach to payroll management, driven by technological advancement. We provide payroll professionals with a unified view of global payroll processing, advanced reporting, and real-time data analytics, all while ensuring data security and compliance. Precisely what businesses need in today's complex working environment. 

UKG One View: Revolutionizing Global Payroll

Innovation and efficiency are the driving forces behind our One View Payroll System. This platform revolutionizes how employees are paid worldwide, transforming the traditionally fragmented and time-consuming global payroll model into a streamlined, secure, and efficient process. Centralizing payroll management across multiple countries, One View offers a cloud-based solution that is not only flexible and scalable but also ensures compliance with ever-changing legislative requirements. Its advanced reporting and real-time data analytics capabilities allow for consolidated data across all payroll areas, offering global reporting in a single currency or detailed insights down to individual pay elements. 

Get The Lastest Payroll Insider Insights!

The Humans of Payroll podcast is a treasure trove of insights, anecdotes, and strategies that will reshape your perspective on payroll. From Katie Linstead's unique career path in the hospitality industry to the innovative solutions elevating the payroll industry, there's a world of knowledge shared in each episode. 

Tune in to get all the latest payroll insider insights.