04:05 GLOBAL
Why Leaders in Payroll, HR, and Finance Must Act The shift to data-driven wage compliance platforms is more than a technological upgrade; it is a strategic imperative for leadership in payroll, HR, and finance. By leveraging these platforms, Payroll managers can streamline operations, HR directors can strengthen workforce trust, and Finance leaders can protect the financial integrity of acquisitions. In today’s environment, where compliance is both a business necessity and a reputational differentiator, addressing wage compliance proactively ensures that organisations are prepared for success. Indeed, wage compliance now sits alongside work health and safety and cybersecurity in being non-negotiable considerations. Wage compliance platforms offer these leaders the tools to move beyond reactive problem-solving, enabling them to foster trust, efficiency, and resilience within their organisations. For Payroll managers, HR directors, and Finance leaders, this approach is not just about mitigating risks; it is about driving value and creating the foundation for sustainable growth.
In today’s environment, where compliance is both a business necessity and a reputational differentiator, addressing wage compliance proactively ensures that organisations are prepared for success.
Wyeth, a full seven years after the acquisition, due to the discovery of environmental liabilities that had not been previously disclosed. It is not hard to imagine undisclosed underpayments surfacing months or years after an acquisition, triggering legal action, regulator scrutiny, and employee dissatisfaction. Failing to prioritise and understand wage compliance can have significant negative For Payroll managers, the result is a resource-draining crisis of back pay calculations and system corrections. HR directors face employee outrage and retention challenges, while Finance leaders contend with unplanned liabilities that undermine financial stability and investor confidence. consequences for Payroll, HR, and Finance functions.
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GLOBAL PAYROLL MAGAZINE ISSUE 8
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