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.
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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
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30 October 2018
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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
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30 March 2018
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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.
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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.