Ability to raise an alert to HR managers / Payroll when field changes

We are lacking the ability to raise an alert to HR managers / Payroll when a field such as Bank account number / sort code etc is changed by the user.

The suggested fix by support is to create a date field that the user must remember to update with the date they changed the other fields so that an alert can be linked to the date field.

I would have expected to see a 'last modified date' option that can be used to trigger an email alert etc.

Nigel