GLOBAL PAYROLL MAGAZINE
19
Streamlining the lexities of a global workforce
By Rick Hammell
Payroll compliance across a geographically dispersed workforce can be challenging, introducing the need for a centralized solution capable of streamlining complexity
However, it does introduce a measure of complexity. Your business must comply with regulatory requirements across every jurisdiction your talent resides in. You must tick every one of these boxes rigorously and ensure that you remain up to date with changes, so you never slip out of compliance. Unfortunately, these regulations tend to change regularly, which means managing your global workforce also means managing compliance. Your business must adhere to local laws, regulations and industry standards, safeguarding against legal penalties, reputational damage and operational disruptions. Every country has labor statutes, tax laws, immigration regulations and data protection mandates. Each country
A global workforce introduces significant value to the modern organization. Fresh talent brings fresh ideas – a diverse workforce is more dynamic and innovative, delivering measurable financial gains to the business. As McKinsey found, companies investing in diversity outperform those that don’t, to the point where not having a diverse workforce is becoming a distinct disadvantage. The ability to source talent from a wider pool of prospects allows companies to become more competitive and gain access to a wider variety of skills. Global talent resourcing is a smart way for companies to reduce the risk of stagnation, create a more agile workforce and introduce improved problem-solving and creativity to the business.
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