Global payroll comes with its own unique cadre of challenges, whether it’s assisting an employee making an international move or setting up payroll in a new country altogether.
The Global Payroll Management Institute’s (GPMI) new, free on-demand webinar, “How to Help Your Clients With Global Hiring and Payroll Challenges,” addresses these problems— and more —to help global payroll professionals become more innovative and efficient in their field.
Sponsored by Globalization Partners, an organization that enables companies to hire worldwide and simplifies global remote team building, this webinar covers the top challenges clients face when hiring internationally.
Business Growth, Going Remote
Speaker Leah Cowperthwaite, Global Growth Manager for Globalization Partners, opens with a breakdown of what business growth looks like today, particularly during the pandemic.
“While we saw a brief slowdown during the pandemic, businesses are not stalling,” Cowperthwaite said. “We did a survey using CFO research back in May, and we saw that 45% of companies said they still plan to hire and expand globally within the year.”
Cowperthwaite emphasized that businesses are shifting to remote work in a big way, making global hiring an essential process.
“Certain industries are thriving, innovations are happening in others,” Cowperthwaite said. “Anything related to remote work is obviously growing, teleconferencing for example, and companies are really shifting to a remote-first mindset.”
Setting Up in a New Country
The first challenge Cowperthwaite tackles in the webinar is new country setup, which Cowperthwaite says can be complex and time-consuming.
“In countries where it usually takes four to six months to set up a new entity, it could take even longer due of government shutdowns related to COVID-19,” Cowperthwaite said. “Depending on the country, it could also cost hundreds of thousands of dollars to set up an entity.”
Cowperthwaite teaches that cost and time alone aren’t the only challenges facing new entities, but the hours of research awaiting teams for proper setup and capitalization requirements, which vary from country to country.
“In Brazil, if you’re hiring all local employees, there’s no capitalization requirement, but if the company hires one foreign national working as an officer, there’s a capital requirement of almost $40,000 USD. So it’s something to think about,” Cowperthwaite said.
Attendees can earn 1.0 RCH or 0.10 CEU when attending this webinar. Register now for this free webinar that is available on-demand until May 31, 2022.
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Felicia DeInnocentiis is Editorial Assistant for Membership Publications at the APA and GPMI.