The most common steps organizations tend to foresee while implementing global payroll

1. The most common steps organizations tend to foresee while implementing global payroll Payroll forms an integral part of employee experience. There must be no scope for error. A small miscalculation can lead to personal roadblocks that can affect family, kids and other delicate commitments. Payroll is generally operated by people who display high level of accuracy and have a reputed credibility; as it has in stake the trust an employee has towards the organization. The magnitude of work involved in global payroll can get overwhelming and can result in missing a step or two while processing accounts or reports. Though the error can be unintentional, the consequences can lead to severe business drawbacks. Inefficient payroll processing can significantly impact the business as a whole. It is important to look at the most common mistakes an organization tends to commit while considering global payroll and direct future payroll projects to avoid these pitfalls.

2. Standardization ensures best payroll practices are followed throughout the organization. In order to maintain this standardization, a complete analysis and thorough research must be done to expose gaps that needs to be bridged within the payroll process. Some of these common mistakes that HR teams tend to foresee are: 1 The volume of work and complexity involved in managing global payroll is tremendous, and if the number of countries expand then the job gets more overwhelming. To simplifying and make the global payroll process more efficient, a dedicated internal payroll team must be established. A lot of organizations tend to disregard this step, but implementing this can save lot of man hours and quality of deliverables can be improved. 2 3 Forming a dedicated payroll team Including miscellaneous expenses Process funds are limited in every organization. But that shouldn’t be an obstacle while framing the budget for global payroll. It is sensible to include miscellaneous expenses to avoid spending lump sum amount in the middle of the project for unanticipated situations. 4 Thorough assessment of needs & requirements Forming the foundation with proper planning Performing a comprehensive assessment of the existing payroll solution and HRM platform must be carried out. Based on which the needs and requirements to improve the process and reduce risks must be documented. The collective data from the research can be used to evaluate the possibilities and analyze respective outcomes. This process forms the base of the business case that guides the management team to approach global payroll systematically. Organizations must never jump the gun to conclude on decisions. Solid planning must form the foundation for any new venture. In global payroll, selecting suitable systems or software must be initiated with a step-by-step process. From forming the business case, getting quotations and approvals, quality assessment to finalizing the product, each stage should form a stepping stone for effective project management. Proper project execution can ensure smooth transition into a globally managed payroll system. Forming an effective global payroll system is essential to multi-country businesses, at the same time, it is equally important to look into the current structure of the HRM platform to centralize all HR initiatives. 02 Zalaris’ comprehensive payroll and HR services leverages the ability to standardize all HR programs through one common solution. Zalaris invests in the most innovative technology to provide customized systems for global payroll through industry expertise in Payroll and HR Outsourcing.