Payroll on Bloomberg Tax is built to get you to the right answer faster and more efficiently. Get all the payroll intelligence you need with Bloomberg Tax expert analysis, perspectives and...
Establishing detailed strategies for pursuing global payroll administration can help streamline processes, improve interdepartmental communication and minimize risk, a payroll manager said Oct. 9 at the 2014 Virginia Statewide Payroll Conference in Springfield, Va.
An organization's global payroll strategy should be aligned with its overall business strategy so that elements of the global payroll strategy can tactically advance the overall goals of the organization, said Charlotte Hodges, CPP, payroll manager of Towers Watson & Co. Communicating with other departments during the development of a global payroll strategy can enable a payroll department to more efficiently work with those departments when the strategy is implemented, she said.
“From a payroll perspective, we are very much dependent on the finance and information technology departments to function, and so we have to align to the infrastructure,” said Hodges, who also is a member of the Bloomberg BNA Payroll Advisory Board.
Considerations of how to standardize a company's payroll processes among the countries with laws governing the wages paid by the company can reduce processing time, although systems must be configured to account for factors specific to each of these countries, Hodges said.
For each country with payroll requirements with which a company must comply, the payroll department of that company should examine the electronic processing capabilities necessary for compliance and how to configure roles and responsibilities of personnel to achieve compliance, Hodges said.
Recognizing factors that a payroll department cannot sufficiently control when administering global payroll can help focus the department's efforts upon developing procedures to accommodate global payroll factors that it can control, Hodges said.
Evaluating the effectiveness of global payroll strategies pursued by payroll departments of other companies also could be beneficial for a payroll department seeking to establish or expand a global payroll strategy, Hodges said.
If any other company's payroll department needed to accommodate a similar or the same set of countries, observing the degree to which that department's strategy was effective could be especially beneficial for a payroll department exploring global payroll options, she said.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to email@example.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to firstname.lastname@example.org.
Put me on standing order
Notify me when new releases are available (no standing order will be created)