Payroll is at the top of the agenda for many companies as they continue to navigate complex landscapes in view of local and international payroll reporting. Ensuring compliance and employee experience is key and therefore having the right processing and strategy in place is essential.
As an employer it is your obligation to ensure a timely, accurate and compliant pay reporting to compensate your employees and to contribute to the local and international social security and tax systems. Not only this, as this type of reporting is a critical element of your business’ financial reporting it is imperative that you are fully aware of the local and international regulations to comply with and safeguard your business.
Having the support and knowledge can be key to ensure that you can reduce risk and optimize time and cost. Payroll must not be a redundant service in your business, it must be integrated within HR, finance, tax, social security, immigration, performance and reward – in the end it is the payroll that will implement all the outcomes and attribute them according to local legislation.
Therefore with the right strategy, the payroll function is recognized as a true partner to the business and will drive better value in your business. Whether you look at your service delivery model, organization and vendor management through outsourcing and shared services or through technology, data and employee experience – payroll is integral.
At EY, we can support you through our fully integrated approach to payroll delivery and reporting, due to our vast experience in project management and subject matter expertise in tax, social security supported by our local and global teams dealing with immigration and workforce advisory, which will ensure that we deliver on your payroll strategy. For more information on our service offering please click here.
EY has released its newest 2019 Global Payroll Survey Report. EY conducts the survey every two years, covering the latest trends as it relates to service delivery model, organizational structure, vendor governance, technology, and employee experience. Please click here to find out about new withholding regulations for 2021.