3. What this means for global payroll?
Like many other business critical services, global payroll was forced into remote delivery and for many organizations it continues to be delivered remotely right now. The implications of this for global employers will inevitably vary but here are a few things common to all: A move to the cloud: Global payroll now needs to be delivered in a secure cloud-based environment. Cloud tools are needed to ensure that sensitive payroll data is handled securely, and that appropriate access and authorization levels are applied. Global payroll professionals need to access and share data continuously -this is best managed in a flexible cloud environment. The days of emails and spreadsheets need to be consigned to the past as they lack the security and sustainability needed for the future of payroll. Digital management: To support remote delivery, digital tools are needed to perform and track the many and varied tasks associated with a monthly pay run cycle across multiple countries. From payroll data input and validation to swapping tasks between team members in different countries, right up to on boarding a new local country payroll provider- a level of digital management needs to be in place for operational efficiency and payroll transparency. More flexibility: Global employers need flexibility -they need to be able to pivot and change direction when it comes to managing their multi country payroll. They want secure tools for managing data, they want to keep relationships with preferred suppliers while being able to change underperforming providers, they want employee self-service portals, and they want digitally empowered payroll professionals. Compliance management: Global employers want clear and robust structures around compliance – the hybrid future of work model has already created more compliance and country specific regulatory requirements. They want a process that confirms multi-country compliance- this means digital compliance calendars and digital audit trails that prove where payroll data went, who accessed it or interacted with it, why and when. Only this level of detail and transparency can answer the key question of “how do we really know we have met our compliance obligations in this country“.
| Global payroll in a post-pandemic world
Powered by FlippingBook