The multinational payroll industry is set to be worth 4.8bn by 2021, yet, despite the evident power of payroll, only a third of multinational organizations have a global payroll provider. Instead, they rely on a disparate selection of multiple local providers and therefore have no access to collated data or a clear insight into their employee attrition, engagement, or retention.
Outsourcing payroll to one global service provider is key to unlocking the potential of payroll data. Using one flexible package tailored to your company’s requirements such as SD Worx’s integrated three-layer approach, enables organizations to rest assured that they are compliant across the various and ever-changing laws and legislations around the world, combining data from numerous countries into a single, harmonized and accessible system.
With a disparate collection of local providers, it’s very easy for HR and payroll professionals to find themselves at the helm of a disconnected payroll system. Using one global payroll provider will connect the dots and generally smoothen out the running of international payroll for HR and payroll teams. Collecting data from one single provider (rather than having to collate data from multiple localities) ultimately enhances the power of payroll data within the business. Multiple, confusing data spreadsheets can be reduced into one single dashboard, meaning that greater and clearer insights can be drawn.
Working with one global payroll provider will also allow HR professionals to have a closer relationship with their payroll system. The recent SD Worx survey revealed that 40% of HR and payroll professionals found it ‘difficult’ or ‘very difficult’ to provide data to business leaders. Payroll is no longer static data that can be ignored – when utilized correctly and efficiently, it can play a vital role within the business, informing decision on performance, retention and employee churn.
However, it is not only the multiple legislations that can make international payroll a bit of a headache for payroll professionals – HR technology is ever changing too. Working with a single, global provider like SD Worx, with its physical presence in over ten EU countries, can aid the adoption of industry advances such as automation, which can reduce the amount of repetitive admin tasks that slow down and hinder the payroll team from completing other, more important tasks that require their attention.
To learn more about SD Worx and its Power of Payroll campaign, download its white paper on unlocking the power of payroll here.
The SD Worx team has returned from another great annual UNLEASH conference. Over 5,000 attendees gathered at the RAI Exhibition and Conference Centre in Amsterdam – the site of the first conference seven years ago.7 November 2018
Payroll is the lifeblood of an organization, so getting it right is crucial. When organizations branch out into new geographical locations, the risk of payroll mistakes heightens. It’s a scary thought for HR and payroll professionals.
30 October 2018
September: the month that children dread as they make their return to school after the freedom of the long summer months. But for adults, especially those in the payroll industry, after the quiet summer period September should be a time to be motivated and to adopt that ‘back to school’ thinking. It’s important for teams not to be stagnant. In the ever-developing payroll industry, adaptability is key and so learning shouldn’t stop just because you’ve left school—in payroll and HR it’s all about continuous learning.18 September 2018
Is your HR and payroll team feeling the heat this summer? With the weather heating up, most of us want to get out and enjoy the sun or escape on a holiday. However, with more staff members out of the office, this can mean that the payroll team might be running on reduced numbers. And, typically, less team members results in a higher workload for those in the office. This is where HR and payroll technology can help, giving HR teams a well-deserved summer holiday.3 August 2018
The HR and payroll industry is in a constant state of change. New laws and regulations are introduced around the world, some of which—including GDPR—change the way the whole organization handles its processes and services.26 July 2018
Summer is finally here—and before long it will be over. HR and payroll teams face various challenges over the summer months, from increased staff holiday to keeping track of summer interns and flexible working.16 July 2018
Payroll data. How often do we stop and think about how important it is to a business? Although payroll is often viewed as a back-office function, it is an essential part of any organisation, and is much more than just payslips.5 July 2018
The multinational payroll market is growing at an impressive rate, with the entire payroll services market expected to reach 4.8 billion by 2021. The demand for international payroll services are increasing, due to the heightened need for compliance to local laws and legislations, and a demand for more comprehensive technology. However, even though the payroll market is growing, many organisations still aren’t unlocking the power of payroll.3 July 2018
The results of SD Worx’s recent international survey are in! With 1,500 respondents from nine European markets, the survey reveals that up to 87% of business leaders are now asking for employee data to inform business decisions—HR and payroll data is now being regularly used by business leaders.11 June 2018
The HR and payroll industry is in constant change, with digitalisation, GDPR, and the gig economy effecting the HR and payroll department in organisations around the world. So, how can you ensure that both your HR department and employees are able to keep up with the pace of change? It’s time to unleash the flexibility of your HR.26 April 2018
Payroll is a vital part of any organisation, whether it’s a local business or a multinational corporation. A simple payroll error can cause a large amount of damage, so getting it right is essential.
30 March 2018
With more and more employees relying on technology and flexible working than ever before, the world is becoming increasingly connected and globalised. However, with this new reliance on global working, what do HR and payroll teams need to consider when implementing payroll for multinational companies?7 March 2018
The end of the payroll year is typically a very stressful time for payroll teams. With an extensive amount of tasks to be completed within tight deadlines, any mistakes can be costly.
However, the end of year process can be drastically simplified by engaging with tailored payroll software. This technology can be utilised to assist payroll professionals throughout the year, but how can it help payroll teams in April each year?27 February 2018
In an increasingly globalised world, there is a vast array of opportunities for businesses to explore. For companies looking to expand their international reach, payroll is one of the biggest consideration factors. Operating in multiple countries has its fair share of challenges: each region has its own local legislative requirements, and complying with these is crucial in maintaining both reputation and revenue. Here’s how outsourcing can help.12 January 2018
Technological advancements are helping to turn a vision of digitally accessible, automated payroll processes into reality. Here’s five predictions for the future of payroll:5 December 2017
A recent survey carried out by SD Worx revealed that out of 4,000 European employees surveyed, 44% had been paid late by their employers and 48% of those that had been paid late had also been paid incorrectly. The research exposes several risks for businesses associated with not paying their employees correctly: let’s explore the top three.13 November 2017
With any outsourced service that a business requires, it’s important to understand the needs that service should fulfil before selecting a provider. This is especially true when it comes to choosing payroll services: it’s one of the most important requirements to get right, and choosing the wrong provider could lead to damaged business reputation in the form of disgruntled and less productive employees, a low staff retention rate and more.8 November 2017
Businesses in every industry have been affected by the way that we now rely heavily on technology. Technology is now a part of everything we do – both at home and work—and in order to stay relevant in today’s world, all industries must continue to be innovative and remain up to date with technological advancements, especially in the workplace.19 October 2017
Big data and analytics have now entered numerous industries, including healthcare, financial services and retail. Despite many HR and payroll providers now using big data as part of their services, the industry has predominately been slow on the data uptake, in comparison to adoption within others. HR and payroll is largely an industry that relies on human intuition, rather than data and statistics, however, providers have started to see for themselves benefits of big data and analytics, and thus are beginning to implement these into their services.10 October 2017
If someone was to ask you how much your payroll operations cost, would you know the answer? It seems like a straightforward question, yet the answer for many HR professionals is often hard to pinpoint. Understanding – and therefore being able to make future projections – about how much your payroll costs requires a clear appreciation of various business components.10 October 2017
It’s a well-known fact that businesses need to continually adapt in line with macro-environmental changes in order to maintain and grow their competitive advantage, but in the fast-moving retail sector, this is especially true. The advent of technology has clearly had a huge impact on retailers across the globe in recent years, with online retail purchases catapulting tenfold and the industry as a whole riding high.10 October 2017
It’s a well-known fact that businesses need to continually adapt in line with macro-environmental changes in order to maintain and grow their competitive advantage, but in the fast-moving retail sector, this is especially true. The advent of technology has clearly had a huge impact on retailers across the globe in recent years, with online retail purchases catapulting tenfold and the industry as a whole riding high.4 September 2017
The objective for payroll professionals used to be simple: all they had to worry about was paying employees accurately and on time. As organisations increasingly look beyond local domestic boundaries, the complexity of payroll operations has expanded and evolved so that the level of payroll sophistication has increased As a result, the needs and requirements of organisations globally have become more complex.6 August 2017
With Britain voting to leave the EU last June, 2016 was a big year for pan-European news. And, while the full implications of Brexit remain to be seen, it is clearly creating much discussion amongst business leaders who are already starting to plan ahead for the legislative changes that will no doubt impact both their operations and compliance.
One of the business areas most likely to be affected is international HR and payroll, so with that in mind, ‘Brexit and Business’ will be one of the key themes at our upcoming 2017 SD Worx European Conference. This year’s event will be bigger and better than ever before, taking place on the 8th February at London’s Hilton on Park Lane.