In addition to empowering tools, your business can count on a team of HR and payroll experts specialised in local requirements and languages as well as the unique needs of growing international businesses.
Shaping HR strategy in growing businesses: 3 trends-Reading time: 4 Minutes
Europe is home to millions of expanding businesses, which play an increasingly vital role in job creation, economic growth and innovative power. They have a lot to gain in the digital era – as long as their HR strategies keep pace with the dynamic needs of their employees. Explore three powerful HR trends that are poised to impact your international company, and learn how to tackle them.
The digital age has brought both opportunities and challenges – and that goes for HR as well. As companies transform their operations and participate in a truly global business landscape, they must also meet the dynamic needs of their people by enabling growth and development in a way that aligns with their business goals. In shaping your company’s future-proof HR strategy, keep these three megatrends top of mind.
Key shifts affecting HR in the modern international business world
Trend 1: full time is out, flexibility is in
You can expect part-time and flexible workers to make up an increasing proportion of your workforce. Remote work plays an important role in this trend, with some employees working from different countries or regions. The result is both greater diversity and increasing complexity, as your HR team must offer new employee structures, stay on top of regulatory requirements and manage day-to-day core processes like onboarding, absence management and payroll – all across national borders.
Trend 2: data privacy is a real concern
GDPR and other data privacy legislation have put data protection in the spotlight – for employees as well as companies. As a result, HR is also under pressure to manage data responsibly and transparently. This means that companies must absolutely remain compliant with the latest information handling regulations. This has a direct impact on HR processes that rely on document management, data input, data management and removal and more.
Trend 3: tech takes the spotlight
A wide range of tools and solutions exist to streamline, digitalise and revolutionise the entire employee lifecycle – including AI, robotics and digital assistants. Being fluent in these tools doesn’t just improve the productivity and effectiveness of your HR process. Offering these technologies to employees may prove a key way to differentiate your business.
HR must-haves in the digital age
Businesses must gain rich insights into their employees through robust, comprehensive and aligned HR systems and payroll solutions to offer the right benefits and compensation option to today’s global, flexible workforce. Such solutions enable HR to understand workforce demographics and costs, track working hours and to compensate employees, as well as to manage performance and succession and create competitive benefits packages.
The HR team must also have a clear grasp of the legislation concerning tax, payroll and human resources in every country where it employs people. This includes perfectly accurate, timely payroll in multiple currencies that complies with local legal and HR regulations.
Armed with this expertise plus the organisation-wide insights revealed by data analytics, the modern HR team can help employees – and the business – thrive.
SD Worx supports the growth of international companies
We realise that embracing international HR is a daunting undertaking, and we’re here to help.
By providing easy-to-use, scalable, integrated HR and payroll solutions to EU-based international businesses, SD Worx facilitates the transition toward the future of work. Enable your HR team to focus on adding business value and building strong relationships by streamlining, digitalising and automating complex, time-consuming manual processes in a fully compliant way.