What does global payroll processing entail?
Companies that have employees in more than one country face a unique set of payroll challenges. Complying with each country’s requirements while delivering a consistent, reliable payroll experience for all employees—in multiple languages—can be costly and time-consuming. To help streamline the process and reduce errors, many companies purchase global payroll coverage from a payroll service provider.
Global payroll processing automates the trickiest parts of the multinational payroll process, like helping employers comply with their country-specific wage and hour rules. With global payroll processing, employers should be able to manage their entire payroll from a single interface that stores and automatically applies the relevant rates and regulations for each employee.
Though many companies continue to deploy patchwork solutions to execute their global payroll, comprehensive coverage options have become increasingly available and affordable in recent years. Many service providers also offer global coverage for human resources and benefits administration. Penalties for non-compliance are steep and can quickly add up, so it’s important to work with a reputable provider that offers a depth of experience in global payroll administration.