This is tricky for single site organisations, but it\u2019s mind-achingly complex for global businesses. As companies expand across borders they inherit new HR tools and systems, efficiency slows and risk of error increases. Global firms manage that\u2019s the corporate equivalent of spinning plates. And even if they manage to master that particular circus trick, or adapt their existing systems to accommodate all new employees, those systems would still have to take into account the different employment laws, rights and taxation for each new jurisdiction.<\/p>\n
Managing the HR costs effectively<\/strong><\/p>\n The costs of doing all this, per employee, are steadily rising year over year. Payroll management services<\/a><\/strong>\u00a0is a equation to solve. In fact, according to Ernst & Young, 55% of global firms doubt they will ever find a payroll solution that satisfies their payroll processing service<\/strong>s<\/a> needs. On top of this comes the required technology infrastructure, which can become particularly expensive when a company operates in multiple locations across the world.<\/p>\n However, in order to reap the benefits of standardisation and automation, HR and payroll can work in harmony. Working with a single supplier and implementing a cloud will help organisations move forward on this journey and further reduce costs. The complexity of international payroll can slow down the pace of expanding into new lucrative markets, thus limiting growth opportunities. By working with a global HCM partner with local expertise, companies can transfer the responsibilities and risks to a third party provider. This will not only ensure\u00a0compliance across all markets<\/strong>, but will make the expansion process smoother, faster and more efficient.<\/p>\n