When it Comes to Global Operations, Change is Good
Companies that manage global employees and payroll sometimes believe that the status quo is better than making any changes. But when you’re talking about global operations and payroll, what you don’t change could be hurting your organization. Evolving regulations and in-country requirements not only put your company at risk for fines and penalties but mismanaging global operations could also make your employees leave due to inaccurate payroll or benefits.
Payroll technology has improved significantly over the last several years, but many payroll technologies can’t keep up with company expansion and growth in new countries. Does your US payroll integrate with your global payroll? What about HR – do you have one system to manage employees across the globe? Technology should be working for you – not causing additional resources or expenses to manage and maintain.
True Global Reporting
Many payroll services claim to have global reporting, but what does that really mean? Can you access payroll across all countries and currencies in real-time? Does your technology update with in-country regulation change each year? If your payroll team can’t access payroll costs in real-time, you can’t identify mistakes, make adjustments, or view trends until it’s too late. If you have multiple vendors managing payroll for each country, the reporting only becomes more complicated. Having access to aggregated, monthly reporting for payroll across the US and international is vital to maintain compliance.
How you are managing HR in each country could be the difference between hiring amazing talent or lacking the expertise in each country to manage operations. If you don’t have an in-country expert or data to ensure you are offering competitive benefits in each country, you may not understand why it is difficult finding good candidates. If employee attrition is an issue, common HR mistakes could be the reason – lack of benefits or holiday leave is easy to correct, but you need to know it’s an issue before your employees leave.
We have created a unique approach to payroll, reporting, and consulting services. Our technology has customized, aggregated reporting so you can view payroll across all countries and currencies in real-time, our hybrid service model gives you a US-based team and direct access to in-country experts when questions come up, and our HR consulting services ensure you stay ahead of compliance, benefits, and employment regulations in each country. Don’t let technology, reporting, or HR stand in the way of your global operations – we can simplify the process, save you resources and time, and ensure compliance. Click here to learn more