Centralizing Global Payroll? Three Things To Focus On
Companies are increasingly looking at ways to get better visibility, compliance and centralized systems for multi-country payroll.
But getting that global strategy in place is far more complex than many initially envision. Consider these 3 things when planning for or implementing a centralized payroll.
Web-based platforms like ADP Streamline, Safeguard, Ceridian, etc. are giving faster, better visibility of your global headcount, costs, etc. But for all their sophistication, in reality, it’s not as simple as turning on a switch. From data migration to stock options, tax equalization, shadow payroll, integration with ERP/HRIS…it gets complicated fast.
Process and Policies
We often see no or convoluted documentation to support payroll. You need country-specific documentation, audit trails, etc. For e.g. processes to ensure transactional and employee data is handled with appropriate security levels.
Local Country Expertise
How to centralize resources to proactively monitor and comply with statutory requirements e.g. banking arrangements? Can you pay from a local account or in local currency where required?
Global Upside has HR and payroll specialists around the world keeping our clients informed and compliant with:
- Employee Rights and Benefits – annual leave, paid public holidays
- Taxation related to salary, overtime, allowances, bonuses, gifts and severance pay
- Expatriate Income Tax (can vary significantly depending on the source of income, duration of stay)
- Double tax agreements
- Social Security, Statutory and Non-Statutory benefits (pension, medical insurance, unemployment insurance, maternity insurance, occupational injury insurance. In some countries like China, insurances can vary by city)
- Reporting frequency and requirements
- ..and more
Please contact us below or call +1-408-913-9130 to talk about your global challenges or needs.