Global Payroll

With more and more people working from home the concept of hiring internationally has become a much more plausible and convenient idea than it once was. Hiring internationally although easier still does entail some complications. One of the main issues that can arise is keeping up with the intricacies of global payroll. When dealing with payroll processing in just one country things can get complicated, between constant changes in payroll legislation, tax laws and employment procedures there are never ending opportunities to make mistakes and incur big fines and penalties.

Handling complexity

So, when needing to take into consideration all of these moving parts in more than one country it really does become a full-time job in itself, every new country added to your list of locations will include its own complicated pension, benefits, and employment structure and standard guarantees. To avoid the headaches, costs and time that could be never ending when expanding internationally you need to leave it all to the experts and utilize a global payroll outsourcing provider.

Best exchange rates

In addition, exchange rates are tricky enough when you are going on holiday but what happens when you have to make monthly payments across different countries, all in multiple currencies? How can you budget properly when exchange rates constantly fluctuate from one month to the next and know for certain you are getting the best deal when so many banks and foreign currency exchange companies take such huge commission? This can become very costly very quickly and could have a huge impact on your bottom line.

This is where Payroll Bureau, as a Global Payroll Outsourcing Provider has you totally covered. We have access to the lowest exchange rates on the market always making sure you get the best deal possible and always keeping our costs competitive. Making payments across multiple continents, to multiple employees in multiple currencies, has never been easier. With the added security of knowing you are getting the most for your money every time, Payroll Bureau is global payroll and efficiency at its very best.

Providing global coverage

When you are choosing a Global Payroll Provider you want to be sure that you are covered in every possible location you could want to expand to. We understand how crucial this is and are proud to say that we have partners in almost every corner of the world, from Asia to America to Europe, and if there is anywhere we don’t cover already we’ll act as a liaison to identify a tried and tested, regional, compliant third-party to secure any of your back-office HR needs.

Managing cultural differences

Cultural differences can be very clear in some countries and in others they are more subtle but just as important. Employees have different expectations in different countries, whether they want to be communicated to in a different way or need to have different holidays it is important to be culturally respectful when hiring internationally. At Payroll Bureau our expert partners on the ground will assist you through everything, from ensuring you are aware of certain public holidays to the more nuanced areas of email communication or how to handle bereavement leave.

Handling compliance

Compliance obligations are serious and crucial to any business, international or not. But how can it be possible to remain complaint with several countries’ legislative imperatives at once? For instance, the difference in pension regulations can be drastically contrasting from one country to the next, in Sweden pension contributions are not only mandatory to be made by an employee but also totally mandatory for the employer to contribute too, whereas in the USA neither is mandatory.

Supporting unique practices

There are also totally differing Payroll Practices from country to country, for instance in the UK bonuses are sometimes awarded but they are not mandated whereas in the Philippines a 13th cheque is mandated by and law and must be a 12th of the employees annual salary and paid on or before the 24th of December each year. This is why outsourcing to a global payroll provider is the best option when dealing with payroll.

With all the complexities and specifications that go into a country’s payroll and employment laws there is so much to take into consideration when it comes to expanding internationally. When you want to go global you shouldn’t be wondering about employment law or payroll practice, you should be focused on this new chapter of your business and how to reach your goals. Utilize global payroll outsourcing and carve out the time to focus on what really matters to your business.

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