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Global Complexity and the Case for Employment-Related Compliance


Employing an international workforce used to be exclusive to a small cadre of multinational corporations. In the last 20 years, the globalization trend has tripled the number of employees working for a subsidiary of a multinational corporation1. As a result, the language of business is becoming more standardized. One thing remains as culturally complex as ever: employment law.

With the volume of tax, employment and payment-related regulatory changes continuing to increase, it is becoming more difficult than ever for human resources and finance executives to maintain compliance and mitigate future risk. In fact, according to the 2013 SmartCompliance survey, 'Managing Compliance in a Changing Environment,'nearly 75% of CFOs say the task of monitoring tax, employment and payment-related rule changes has become more time-consuming over the last two years and expect the increased complexity of newer tax regulations will take up additional company resources over the next two years.

In difficult and highly competitive market conditions, the need for organizations to effectively manage their risk and compliance issues has never been greater - and at the same time, has never been more difficult to do internally. It has almost become an impossible task for any business to attempt alone. Organizations must know about and understand the risk and compliance issues they face in every jurisdiction where they conduct business.

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