Managing Payroll for Small Business

Automating your #payroll gives you an all round benefit of accuracy, automation & speed altogether leaving you well equipped to deal with other operational challenges. For more information: paysquare.com

Employee Engagement Starts with Payroll | International global payroll


Global Payroll is the ultimate relationship an employee shares with a company. It is an essential agreement between the individual and the organization he works for. A skilled employee values the contribution he gives to the company and expects precise remuneration in return.
An employee is eager to receive the paycheck at the end of the month. It is the product of the hard work they have put into finishing tasks assigned to them. The paycheck issued by the company allows an employee to survive financially in the world. A survey by Intuit suggests that a quarter of employees have experienced erroneous payrolls. Around 49% of employees look for another job after two late paychecks.

So, how does global payroll affect employee satisfaction? The following points can illustrate that.

International global Payroll Errors
An inaccurate or late payroll frustrates the employee and they begin to question the administrative caliber of the company. A situation should never arise where the employee doubts the intentions of the employer.

Non-compliance with laws
Sometimes, industries fail to meet the labor standards of an unfamiliar region and have to pay hefty penalties. A bad re****tion for the company is formed which leads to resignations. Even employing fresh candidates becomes quite difficult. According to Glassdoor, the cost of hiring a new employee to fill the vacant position is around $4000.

Lack of Transparency
The employee looks for a job that allows them to grow productively and produce better outputs. This is a tedious and time-consuming affair that can be avoided using automation.
How does an international outsourcing payroll service increase employee engagement?
An error-free International global payroll with an automated attendance and leave management system enriches the employee experience. In this way, employees recognize that their employers have a disciplined approach towards their well-being and provide them with the best-in-class tools to clear their suspicions
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Is International Payroll Management Restricting your Business Reach? Not Anymore, Know How!

Expanding business frontiers across boundaries magnifies brand presence, diversifies business assets and accelerates business growth. But extending a business's global footprint is a complex endeavor that requires sound planning and streamlining of myriad processes. Amidst all the challenges, payroll management gets really tough to handle.

Considering multiple intricacies involved in payroll, an innovative approach and effective administration become indispensable. This is the reason why most companies in the mid of their expansion plans or with established global presence opt for international payroll services by third parties.

What are the major hurdles that can cause disturbances in the smooth operations of the organizations, working across boundaries?

# Accommodating local minimum wage laws, local reporting requirements, local tax regulations, local currency & language in your payroll process and policy.

# Meeting the regulations governing payroll compliances of regions you extend your business. This requires different types of information to be submitted, in different formats, and at different deadlines.

# Payroll database serves as a treasure trove for cybercriminals and hackers. Hence, every country has its data privacy laws to tighten the protection against data breaches which when violated can lead to heavy penalties.

# Integrating technology to achieve an all-encompassing global system that allows the company to keep a track of labor force stats and costs holistically.

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