Fragmented payroll systems are a huge risk for your business and the complexity of international payroll is slowing you down.
It is a challenge to operate in multiple countries and cope with very different payroll rules and systems. The time and manpower needed to deal with this complexity, not only slows growth but impedes compliance, innovation, security and the ability to produce powerful employee insights.
By unlocking the power of payroll, you switch on the people power of your business.
Ask anyone working in Payroll and they will tell you that they have to manage an increasingly complex set of processes affected by changing legislation, regulation, working rules, contracts of employment, company policies and custom & practice. Your payroll relies on people who understand and can correctly apply appropriate legislation, have deep knowledge of how to interpret their employers’ policies and practices, and know how to process end-to-end payroll.
Payroll is a vital part of any organisation and can inform HR leaders on various aspects of an employee's track record, from employee engagement, retention, to absenteeism and performance. Although payroll has power within an organisation, does the wider business leadership realise its potential?
The SD Worx team commissioned an independent survey of 1,500 HR and payroll professionals in nine European countries: the UK, France, Ireland, Germany, Belgium, the Netherlands, Austria, Luxembourg and Switzerland.
The results reveal that in the age of analytics, many organisations are now embracing the power of payroll, historically seen as an administration function.
To take control of global payroll, payroll teams must understand both local and global platforms. Local HR and payroll departments—or an outsourced provider—should be in place to manage local services, and should be experts in the local market and legislations. Alongside local services, global platforms should have different service levels available for each region or country.
Payroll mistakes are stressful, awkward and time-consuming for everyone involved, and can have disastrous consequences for employee satisfaction. But just how big is the payroll problem?
We commissioned an independent survey of employees in six European countries: the UK, France, Germany, the Netherlands, Austria and Switzerland. 4,000 employees were asked whether they had ever been paid late, and those that said ‘Yes’ were asked for further details and whether their experience had changed perceptions of their employer.
The General Data Protection Regulation (GDPR) came into effect in May 2018, and affected all organisations that handle the data of individuals in the EU, regardless of geographical location. To determine GDPR readiness, SD Worx commissioned an independent survey of 1800 HR and payroll professionals across nine European countries – and the results were certainly interesting.