In September 2020, the Parliament made several changes to the Employment Law in the Maldives. Initially, this was submitted to the government in 2019, but the Parliament has since made the changes in collaboration with the Maldives’ Social and Economic Affairs Committees.

Here are some of the key changes made to the Employment Law in the Maldives:

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Payroll in every country is challenging, but when you are managing payroll across multiple countries, the complexity grows exponentially. Unique in-country payroll regulations, money movement to settle payroll in multiple currencies – the list goes on. Getting ahead of regulation changes and payroll requirements is the key to ensuring compliance, but that is easier said than done in most cases. How can you keep up?

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There have been some significant changes in labor laws in Cambodia over the past few years that show that the country is moving to protect women and employees of all ages, castes, and religions. As of 2020, Cambodia has been promoting equal pay, equal opportunities, and professions, and paid leave for workers. Here are some of the labor laws in Cambodia:

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The Republic of Singapore is a small city-state with a population of 5.8 million people. The diverse and multi-ethnic population of Singapore comprises 72.6% Chinese, 15% Malays, and 7.4% Indians. Amongst the other ethnic groups living in Singapore are Eurasians and laborers from South Asia, who make up a large part of the population.

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Companies often find processing payroll across multiple countries can be challenging and complicated by unique regulations, different processes in each country, and lack of data. One of my new clients was managing employees in 7 countries and was struggling with their payroll provider.

My client’s payroll provider was missing bank deadlines, which resulted in employees across all countries not getting paid for a month. There were several different wire transfers needed each month to pay employees across 7 countries, and service was a major concern. To complicate matters, there was no global reporting or integration with the company HRIS system, so my client could not view payroll in real-time or determine what issues were arising in the payroll process. The company was growing rapidly, and they had no support to set up business entities, bank accounts, and employment contracts. They also needed help with leaver requirements and received very little support from the payroll provider.

When I showed the team the Blue Marble payroll platform, WebGlobe, the team loved the technology and the ability to standardize the payroll submission process for all countries. They also were excited about our money movement services that allow Blue Marble to take one lump sum each month and distribute payroll funds in the local currency to each of our in-country payroll partners.

Blue Marble also has a consulting services team to assist with the entity and bank account set up where needed. Our hybrid service model gives their local payroll administrators access to in-country experts for immediate issue resolution and answers to any questions regarding payroll, tax, pension, and statutory requirements unique to each country. Blue Marble will allow them to scale as they grow organically and through acquisition while ensuring all requirements are set up in compliance with each new country.

As a result, Blue Marble has successfully streamlined their international payroll processes and “made our team look great in the eyes of management” per their HR Manager. As they continue to grow and bring on additional locations and entities, there will be a smooth process with all requirements in place.

If your team is struggling with multiple systems, lack of reporting and data, or service issues, we can help. Our payroll platform is designed to manage all of your employees in 150+ countries. With global consulting services, we can help you scale and set up business entities in new countries, create custom employment contracts, and more. Don’t let global payroll complications get in the way of your expansion efforts – we are here to help! Talk to us today about simplifying your global payroll and see how easy it can be.

Global growth can be difficult to navigate in new countries or markets. Many times, HR professionals only have expertise in a few countries and are tasked with ensuring compliance for the entire organization globally. For companies operating in 10+ countries, this can be a very challenging task for HR teams. They often tell me “We don’t know what we don’t know.” Every country and market is very different and it can be hard to keep up to date with changes in our current evolving COVID era.

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If you have employees in multiple countries, you know global payroll is not easy. So many factors go into managing payroll – local in-country regulations, tax and filing deadlines, statutory requirements – the list goes on. What are the key factors to successful, compliant payroll across all countries? Here are some of the top priorities for global payroll to consider:

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Multinational companies have faced many challenges over the last year. Now that the new year has begun, it’s time to look at your global payroll and identify ways to simplify the process. With new in-country regulations due to COVID, new Brexit rules, and furlough schemes in each country, payroll has gotten more complicated. How can you make sure you’re getting the most out of your global payroll in 2021 and stay ahead of new changes?

Technology

Each country has made adaptations to daily work life due to different government lockdowns and social distancing protocols. Some offices are fully remote, some are working with 50% capacity each day, and some have laid off or furloughed employees due to business conditions. Using technology to communicate and manage daily operations is a must have in this environment.

Platform

Using one platform to manage your employees across the globe is the gold standard in global payroll. Your payroll technology should have one login to manage employees in every country, provide automated updates, customized reporting across all countries and currencies, and real-time access to your payroll costs across the organization. If your payroll process isn’t running smoothly, your technology could be the problem. Having the right software that works for you is the key to simplifying payroll, reducing errors, and ensuring compliance in each country.

Expertise

One other aspect of global payroll is in-country expertise. What happens if you have a question about your payroll in India? What if the rules in India have changed and you didn’t know? Having direct access to in-country experts is another step in the right direction. You shouldn’t have to wait a week (or 2) to hear back on a simple payroll-related question. If you don’t have direct access to your payroll experts in each country, you’re missing out.

Blue Marble has taken the stress out of paying employees internationally. Our cloud-based technology is easy to use, provides customized monthly reporting across all countries and currencies, automatically updates with new payroll regulations in each country, and we provide a unique-to-the-industry hybrid service model so you have a US-based team and direct access to payroll experts in each country when questions come up. How simple can it be? Talk to us today to find out! 

2020 certainly turned the world upside down and forced organizations to make significant changes to their operations. In recent conversations with my clients, I’ve seen both sides of the spectrum. Some have scaled back operations, while others embraced expansion as employees worked entirely remote. Global Expansion in 2021 will been different, but is still possible.

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Global expansion is always an exciting opportunity, but when it comes to setting up business entities, hiring employees, and getting payroll up and running, things can get complicated. There are several key aspects of starting up in a new country that are often overlooked and unique challenges in each country when expanding and hiring. Here are some common challenges when expanding into new countries that a company may face:

Business Entity Setup

Creating a new entity is not as easy as it sounds. Depending on what type of entity you are setting up impacts your tax liabilities, you may need to hire local talent for certain positions within the company, and the required reporting and deadlines for tax payments are sometimes determined by the type of entity created as well.

Bank Accounts

Do you need an in-country bank account in order to pay local employees, or can you pay staff from a US bank account? Understanding the payroll regulations in each country and the bank accounts required for payroll is key to hiring and paying your employees. Some countries require a local bank account and some will allow for US bank accounts to use for payroll.

Multi-country Payroll

Will you use different in-country providers in each country to manage payroll or one platform to manage all of your countries? Using different providers can cause a multitude of issues when it comes to reporting and visibility. It is also difficult to manage all of the currencies for payments. If you have one platform to manage all of your payroll, you have real-time access across all countries, you can settle payroll from multiple currencies in US dollars, and you have customized reporting for each country and aggregated views across all countries.

HR Compliance

Once you’ve figured out payroll, then it’s time to hire employees. What are the statutory benefits in the countries you are expanding in? What happens if your benefits are not in compliance? There are unique HR regulations required in each country – some have limits on how many locals must be employed, some positions can only be filled by local talent, etc. You need an HR compliance partner to help navigate the circumstances in each country or face fines and penalties for non-compliance.

Getting started in a new country is always an adventure, but if you’re prepared you won’t face disaster as you’re trying to launch. Know before you go and your global expansion will be seamless and you’ll wonder why anyone ever thought it was complicated! Talk to us about global expansion services. From entity setup and company formation, to payroll and HR compliance – we’ve got you covered. Click here to get started