P ayroll errors and impacting employee trust, regulatory standing, and corporate reputation. IBM reports the global average cost of a data breach was $4.9 million in 2024, and MHR International found 91% of UK businesses make monthly payroll errors, costing up to £150,000 annually. compliance failures can create a domino effect,
Labour costs make up the largest portion of business expenses, yet many organisations lack clarity about who processes their payroll locally. With 67% of companies outsourcing payroll functions, critical processes are often handled by third-party affiliates or in-country partners - sometimes without a client’s explicit knowledge. This lack of transparency is not just operational; it is a significant strategic risk with far-reaching consequences.
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ISSUE 15 GLOBAL PAYROLL MAGAZINE
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