Global Payroll

What is global payroll? 

Global payroll includes calculating wages, withholding taxes, administering benefits and bonuses, and ensuring payments are delivered to employees in compliance with local labor law regulations.

Are there any requirements for employers running global payroll?  

Some countries have specific requirements related to payroll, for example, requiring employers to keep and maintain accurate employee shift records for a specified amount of time. Employers must also provide employees with pay slips to provide employees across multiple countries.

What are the challenges of global payroll? 

The main challenge of global payroll is complying with labor laws across different countries. Each country has different requirements for minimum wage, maximum working hours, leave, termination, taxes, and employee benefits, among others. Employers will also have to account for different currencies and exchange rates. Many employers choose a global payroll provider to simplify the headache of running payroll in another country.

What is a global payroll provider? 

A global payroll provider is a third-party company you can use to outsource the responsibilities of running payroll in another country without needing to set up a local entity. An employer of record (EOR) is an example of a global payroll provider. An EOR provider also facilitates global hiring after a company finds a great candidate in another country, administers local benefits, and provides localized guidance and support to help companies comply with local labor laws. 

What is a global payroll strategy? 

A global payroll strategy refers to a plan that forms the basis for how a company will manage payroll processes and operations across multiple countries.