Every company is getting 2020 plans ready, but when you have global employees, there are logistic changes and unique regulations in each country that are difficult to plan for. How can you maximize your resources and budgets while ensuring compliance with local in-country regulations? Here are 3 key components to consider while building your 2020 plan.
Technology
Paying employees in different countries each month requires some type of technology, but how do you know if your payroll technology is working for you or against you? Are there manual processes, spreadsheets, and emails running your payroll, or is there one platform to manage all of your countries in one system? Payroll technology should make your payroll across all countries and currencies seamless and not drain internal resources with manual processes. Your payroll solution should also provide monthly reporting to give full transparency to view payroll costs in real-time.
Global HR Compliance
Once you’ve hired employees in another country, you have to maintain HR compliance in each country every year. With changing regulations, new labor laws developed, and severe fines for non-compliance, global HR has become more complicated. The more countries you manage employees in, the more complicated human resources can be. There is a better way to manage your global employees – with tools to help ensure compliance. You can research labor laws in each country, get automated updates when something changes in a specific country, customize employee documents based on in-country requirements, and more. As you plan for 2020, look at your current global HR processes to determine if you need a new way to manage your employees.
Integration
Technology only goes so far – if your payroll and HR systems can’t integrate, your global teams will spend valuable time gathering data, creating reports, and reconciling systems. When you are looking forward to 2020, evaluate the current landscape – does your US and global payroll integrate in one platform? Do you have access to all employee HR data in one place? Too many systems cause manual errors, reporting issues, and loss of resources each month. Your global payroll and employee data should be integrated to provide a view across all countries, customized reporting to view your payroll in real-time, and access to data on one platform. Technology should work for you – not the other way around.
To simplify global operations in 2020, improve data collection and payroll compliance, you need technology solutions that integrate with your global HR, provide customized reporting each month, and give you access to in-country provides when questions come up. You can reduce resources spent collecting and entering manual data, ensure compliance in each country, and avoid hefty fines or penalties. To learn more about simplifying your global operations, click here