Global payroll and HR can be challenging – each country has its own set of regulations, different year-end deadlines, tax and labor codes, and more. Keeping all of the country requirements and annual changes in compliance can become a nightmare without some help. So how do you manage all of the global deadlines and keep your global payroll and HR running smoothly?
In-country Expertise
Just as the US has specific regulations for employers, payroll, and benefits, so does every country in the world. If you have employees in multiple countries, you need experts in each country to help you manage employment contracts, handbooks, statutory benefits, and payroll. If your team in the US is trying to manage employment laws, regulatory changes, and stay up to date with payroll requirements and taxes, things can get lost in the shuffle and you could potentially be non-compliant and face penalties without even knowing you were missing something.
Payroll and HR Technology
Using a payroll or HR software can help companies manage employees overseas, but if your payroll and HR technology is not integrated, your payroll and HR teams are duplicating efforts, using the same data in multiple systems, and most likely managing payroll and HR with manual processes. With so many opportunities for error, it is important to standardize processes for payroll and HR and find a technology that can be integrated so the employee data is entered once and utilized for both payroll and HR.
Global Compliance
To manage your global teams, you need the right technology and in-country experts to ensure accurate payroll and regulatory compliance. Removing manual processes and duplicate efforts saves time and resources from both your payroll and HR teams. Integrated technology also gives you real-time reporting tools to manage your global workforce, spot trends, and make changes where necessary.
Global deadlines are not going to get easier – you need to have a plan in place to stay ahead of regulation changes and be prepared for new deadlines. To learn more about simplifying your global payroll and HR, click here