Global payroll allows businesses to hire anyone from anywhere in the world. Sounds good, right?
But managing payroll for an international workforce is widely recognised as one of the most complex tasks a business can face when expanding globally.
So, what’s the best way to simplify and automate your processes? Outsourcing your global payroll and employer of record (EOR) functions to a total employer services provider…
A must for expanding businesses
EOR and payroll services provide flexibility and scale to meet your business’ expansion needs, preparing you for international growth and ensuring the satisfaction of your employees around the world.
But why is managing payroll across multiple jurisdictions so complicated?
Not only does global payroll involve the accurate and timely management of paying potentially hundreds or thousands of employees across varying time zones and exchange rates, but it also involves having to deal with ever-changing payroll laws and regulations. Sound a little overwhelming?
The real crux is that falling short of compliance for global payroll isn’t really an option. Each of your employees around the world — whether you’ve got five or 5,000 — needs to be paid the right amount at the right time. And if that doesn’t happen, you can bet they’ll have something to say about it!
Streamline processes, stay compliant
An outsourced payroll provider will have the latest payroll technology available to automate processes wherever possible.
Using automated payroll software saves valuable time and reduces the scope for error through standardisation, in turn boosting productivity. Often, payroll software will be linked to your employees’ payslips and holiday booking in one centralised interface for ultimate transparency, control and fluidity. Software of this nature will also give you access to contracts, reporting, data flow and vendor management, all from a single platform that’s available in dozens of languages and multiple different currencies.
What’s more, choosing an outsourced provider for your global payroll means you have prime access to the lowest exchange rates on the market, ensuring you always get the best deal possible.
But above all, it’s a global payroll and EOR provider’s absolute priority to ensure your business is 100% compliant. Whether it’s changing regulations around data privacy or stringent rules on the date of salary payments, compliance is automatic when you work with a trusted payroll and employer of record provider.
A comprehensive offering
TopSource Worldwide offers far more than just payroll services.
Our global payroll offering is intrinsically linked to our EOR services. While it’s possible to separate the two, there’s no question that a world-class payroll offering is boosted by support from a team with expertise in HR, legal and consultancy.
As a total employer services provider, our expertise lies in supporting expanding businesses by ensuring compliance when operating in new jurisdictions. We’re also on hand to assist growing organisations with managing various overseas statutory requirements, including employee benefits, hiring, termination (if required!), contracts and paid leave.
Get in touch with our expert team today to learn more about how TopSource Worldwide can assist with your global payroll and EOR functions — keeping you compliant as you employ everywhere and manage payroll anywhere.