4 September 2019 - Reading time: 5 Minutes
In today’s business landscape, organisations are facing uncertainty as they plan for the future. With Brexit causing political instability across Europe, the rapid development of new technologies and the lure of moving operations overseas to reduce costs, how can we navigate these turbulent times? When managing this business change, leaders don’t always think to look to the HR and payroll departments for the answers. However, working with a Global Payroll Provider can open up opportunities that could ensure it thrives and grows despite the challenges of today.
Here are five ways working with a global payroll provider can help businesses of all sized prepare for the future:
1. Recruitment: With visibility of departmental output easily accessible on a single core-HR dashboard, it is possible to have a clear understanding of productivity levels across the business. If these aren’t at expected levels, this may need to be solved – perhaps with additional recruitment. A clear overview of trends in historic onboarding data can outline when departments require new staff to boost productivity with intelligent and targeted recruitment. Additionally, if a business is expanding into a new region due to political instability, this same onboarding data can inform talent acquisition of the ideal candidate profiles to streamline the process.
2. Staff Planning: Productivity and efficiency issues are not always solved with recruitment: informed staff planning is vital too. With a view of all departments and teams, it’s possible to understand those that are performing the best those that aren’t. For example, the introduction of new technologies may require a member of staff with relevant expertise to be transferred to another department during the transitional phase. Knowing that staff are in the best place for both their talents and the organisation’s requirements can ensure that it is operating at maximum potential efficiency.
3. Compliance and Regulations: With a view of payroll for the entire company even across multiple countries and regions, teams can understand what laws and legislations they must comply with. This can often be a complex task as laws are regularly updated – especially with today’s political instability. However, working with a global payroll provider provides access to experts that are aware of any upcoming laws that may affect how payroll runs and how best to adapt operations accordingly. Non-compliance can be costly and, when navigating business change, it’s the last thing the business needs.
4. Global Expansion: If a business is looking to expand or contract, a global payroll provider can ensure that this is a smooth transition. These providers are flexible and designed to individual business needs—regardless of their size—and can easily expand and contract along with its operational requirements. If an organisation is uncertain about the future global operations, being reassured that they have the seamless support of their third-party providers means it is less of a task to coordinate payroll in new territories.
5. Embracing HR Technology: Technology is always adapting, and today it is developing at a more rapid pace than ever before. Having access to the latest technologies such as AI and machine learning will ensure that the payroll is prepared for any future developments in the industry. For example, AI and automation can ensure that data pools across the business are up-to-date and any human errors are eradicated – a vital requirement for data that is used to inform global business planning.
Today, businesses are grappling for certainty as they prepare for how developments in financial, technological and political spheres could impact their future operations. These five examples demonstrate that, with the support of a global provider, business planning in these turbulent times can be streamlined and very effective.
To learn more about SD Worx and its Power of Payroll campaign with the Global Payroll Association, download the white paper on unlocking the power of payroll here.
The summer months can sometimes be quiet for the payroll department, as employees enjoy well deserved breaks. However, with the final quarters of the year approaching, it’s time to get back to work—payroll never takes a break, after all.
Here are three ways to ensure that the department is as productive as ever as it prepares for the busy second half of the year.
Brexit. It doesn’t matter whether you’re an employee or employer, there is little clarity over exactly what it means. While the British Government scrambles for an outcome, organisations sit patiently, doing what they can to prepare for all eventualities. Considering that there is no certainty and a myriad of possible outcomes, it makes it extremely challenging for organisations to put plans in place.
When the time comes for a company to expand into new territories and take operations global, it can mean a significant increase in workload for the HR and payroll departments – so, how can expanding businesses manage this transition with ease?20 June 2019
SD Worx explains the importance of balancing global and local payroll operations for expanding international businesses and how a multinational payroll provider can help keep this balance.14 May 2019
Running global payroll for an organisation operating in multiple countries can, at times, become somewhat overwhelming. With various rules and regulations to comply with and huge data sets to handle, many payroll professionals would welcome a helping hand. Today, with advancements in HR and payroll technology, that hand doesn’t have to be human—in fact, embracing these technologies can unlock the power of payroll within an organisation.4 April 2019
What will Brexit mean for the social security rights of UK nationals currently working in other EU states, and of nationals of the remaining 27 member states now in the UK? Will these cross-channel workers benefit, for example, from state pension contributions they made in the UK and vice versa if they return to their countries of origin?14 March 2019
The clock is ticking on the UK’s exit from the European Union on 29 March 2019. But we still don’t know the terms of its departure or what impact Brexit will have on employment both in the UK and the 27 remaining EU member states. Faced with this level of uncertainty, HR and payroll teams need to start their HR Brexit planning right now.18 February 2019
Today’s business world is becoming increasingly international as technological advancements make it easier for organizations to operate in multiple regions, or even globally. However, when it comes to modern international payroll, many businesses struggle to run their payroll on a global scale.12 February 2019
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
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.30 August 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
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
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
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
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.