With globalization becoming more widespread, many companies are looking for ways to leverage best practices for their global payroll operations. Payroll was earlier under the finance umbrella as it was necessary to ensure appropriate audits and controls and now payroll has shifted toward human resources.

1. A Glance at the Best Practices of Global Payroll
With globalization becoming more widespread, many companies are looking for ways to
leverage best practices for their global payroll operations. Payroll was earlier under the
finance umbrella as it was necessary to ensure appropriate audits and controls and now
payroll has shifted toward human resources. Although payroll has a strong connection to
accounting and finance and to human resources, where it is aligned does not impact
payroll’s performance or impact payroll’s ability to implement the best practices. In
many countries, payroll processes and operations require a lot of manual processes. It is
therefore necessary for companies to determine the level of resources that are essential
to manage global payroll and whether those resources need to be, at the global,
regional, local or corporate level.
The Global Difficulty
In multinational companies, payroll was managed by HR professionals, country by
country. Although there were vendors in each location, keeping up with all the payroll
laws, taxes and regulations in different countries was a daunting task for HR and
accounting staffs. By adopting integrated global payroll systems and best practices, it
was possible to keep a track of how much each employee was paid salaries and benefits,
who is being paid, or how many employees are on overseas payrolls, experts say.
Adopting the Best processes and Best Practices
When it comes to implementing a global payroll system, there is no one-size-fits-all
strategy. It is primarily necessary to understand goals the organization wants to achieve
before setting up the global payroll processes and practices. Concentrating on the break
down the elements of the payroll process rather than trying to address everything at
once is a good approach. This way it is possible to ensure that the services provided and
the model for delivering those services can help the organization to achieve its goals, not
only for the for the organization as a whole, but for payroll specifically.
A few simple best practices are
• Do away with redundant steps and procedure,
• In order to decrease convolution, it is necessary to simplify and regulate the
remaining steps and methods
• To decrease the probability for inaccuracy it is vital to automate the effort
required to complete processes as much as possible.
• In order to deliver services through the best available means, it is necessary to
leverage the available delivery tools
By partnering with the right vendor you can get assistance in all matters ranging from
income tax returns, tax equalization agreements, contracts formations and tax
compliance services. Global payroll solutions also provide assistance to handle all
matters from gathering data to payroll distribution, tax withholding and filing and tax
compliance services in every location.

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