Outlook
According to the Department of Labor, the outlook for compensation and benefits managers is projected to grow 2 percent through 2033, slower than the average. The complexity of payroll requirements and systems has increased the demands for upper level payroll managers and directors within companies. There has also been substantial growth of external payroll services. The shift to outsourcing of company payroll functions as an alternative and cost-saving option may slow the growth of in-house payroll departments, affecting the number of positions available.
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