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ISSUE 3
From Local to Glo Smart Steps to G Contractor Paym Companies want effective, compliant and streamlined ways of managing payments to contractors across borders.
By Rick Hammell
with the revolutionary capabilities of payroll technology and Human Capital Management platforms, organizations can seamlessly manage the complexities of global remote talent. A recent report by Research and Markets points out that payroll services are playing “a crucial role in supporting remote work by ensuring the seamless and accurate processing of employee salaries, tax deductions and compliance” . This is critical to ensuring that companies can not only tap into the global talent marketplace but also make payments to their talent on time and within regulatory expectations.
The payroll services market has gained momentum over the past few years, achieving a compound annual growth rate of 3.2% from $75.21 billion in 2023 to $77.63 billion in 2024 . This growth is driven by a very clear market need – solutions capable of helping companies manage the complexities of global contractors, compliance, cost efficiencies and resourcing talent. Thanks to the ubiquity of technology, companies can access skills from anywhere in the world. With global workforces, organizations have to be mindful of the potential impacts it could have, such as on business processes or culture. Fortunately,
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