During the webinar “The Secrets to Global Payroll Success,” attendees were given tips to consolidate and streamline their global payroll operations and points to consider when moving to a global united payroll platform.
Sponsored by Immedis and put on by the Global Payroll Management Institute (GPMI), the webinar, presented by Christine Keily, Chief Operating Officer at Immedis, put global payroll professionals on the right path when facing industry challenges and looking to understand the many different payroll models available for their companies.
Keily, who has 20 years of experience in global payroll, taxation, and social security, said that to find success in global payroll, an organization must look at its global payroll strategy, profile, challenges, and models. When taking the first step to define a global payroll strategy, the key components to consider are the vision for the department, alignment of the strategy with HR and finance, and enabling technology.
“You will need to look closely and examine your payroll operations,” Keily said. “Consider the end goal. What do you want this to look like? How does it fit in with the overall company strategy? Global payroll changes impact almost every corner of the business. So, it is important that payroll considerations are aligned.”
Goals and responsibilities are likely to transform throughout the process, so Keily said it’s extremely important to document these changes and to check back over time to make sure all stakeholders are being positively impacted.
“Look critically and see if efficiencies can be introduced,” she said. “For example, streamlining across payrolls in other countries, automation, segregation of duties, and specializing of teams. Technology—current and future—should also be considered. Consider what you like and what you do not like.”
When it comes to an organization’s payroll profile, Keily reviewed the three elements: the workforce, the payroll department, and the payroll platform and provider. Several questions need to be asked to improve on all of them. These include the following:
- Where in the world are employees located?
- Is there a centralized global payroll function?
- How easy is it to gather information and reports from your current system?
“Some of these questions might seem very obvious, but it’s very important to do your homework and ask the questions on a global basis before heading into change,” Keily said. “The more you know before looking into solutions, the more informed you’ll be before making any decisions.”
To register for the free webinar “The Secrets to Global Payroll Success” on demand, visit the “Education & Events” section of the GPMI website today.
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Kiko Martinez is Associate Editor of Membership Publications for the American Payroll Association (APA) and the Global Payroll Management Institute (GPMI).