Struggling with your global payroll operations? Address these 3
crucial areas and take control.
Many organisations that are growing internationally share common
payroll 'pain points.' The good news is, you're only 3
steps away from resolving these, no matter where in the world you
need to pay personnel.
Step 1: Improve your payroll data exchange
Still using email to interact with your supplier to process the
payroll data for employees? You're not the only one, many
companies surprisingly use this mode of communication. In our
Bloomberg BNA survey of global payroll professionals:
61% said they use the inherently
insecure method of email for cross-border communications.
Just 38% apply password
23% don't apply additional
security procedures when emailing data internationally.
More than a third of
firms1 choose to stick with their usual domestic
But with company data breaches increasingly hitting the news
headlines, multinational payroll departments must secure their
methods of data exchange. Sending and receiving employee data over
secure channel is possible and ensures this is supported by a
comprehensive audit log.
Step 2: Get a clear view of your global payroll processing
Global business growth regularly drives constant change under
short time frames. As a result, many payroll controllers
inadvertently find they lack visibility of processing and data.
Both systems and processes are often disparate. In fact, 65% of
practitioners who took part in our insight into multi-country
Global Payroll Association report said they weren't able to
view their payroll status across all countries. Remove the blinkers
and ensure you're seeing the complete global processing
picture. Then you can identify, and resolve, any process
malfunctions and eliminate any prospect of missed payments to your
Step 3: Get the most out of your trusted partner
At times of rapid organisational expansion, the relationship
with your third party provider becomes more important than ever.
They are your local administrative experts, and are equipped to
ease the pressure on your in-house team. Together you and your
supplier can form a formidable team. But how often is this
relationship stretched by poor communication and one party
believing actions lie with the other? The team is only as effective
as the processes they operate. Establish clear process workflows,
accountabilities, timescales and tracking to know exactly how the
team is progressing your payroll processing, allowing appropriate
feedback and approvals.
The result of following these steps? Increased accountability
and support that will ultimately keep your company's payroll
running smoothly, with you in clear control.
1 with less than $100m in annual
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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An assignment of rights under a contract is normally restricted to the benefit of the contract. Where a party wishes to transfer both the benefit and burden of the contract this generally needs to be done by way of a novation.
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