Building a Workforce – extra HR and payroll information from the TMF Group’s original Global Complexity Report Index 2019. Take a closer look at the challenges businesses face when building, maintaining and managing employees across multiple jurisdictions.
1. Hiring a skilled workforce
Looking to hire employees from overseas? Labour laws vary across jurisdictions and can seriously limit your options to local candidates only.
How complex is it to hire foreign workers on a scale of 1 to 10?
2. Employee compensation and benefits
Around the world, most governments require businesses to provide ‘traditional’ benefits to employees but there are still many other employee entitlements that can be mandatory by region, industry and sector.
Did you know that a 13-month salary is mandatory in these 17 jurisdictions in the Americas?
3. Managing payroll
Paying employees is more complex for businesses now that government-required reporting is a commonplace in many jurisdictions. Non-compliance penalties are a real concern.
What percentage of jurisdictions require businesses to submit payroll data at least once a month?
4. Managing underperforming employees
Legislation for firing underperforming employees is significantly different depending on where your business is operating in the world. Employers must stay agile to mitigate risk from the increasing number of challenges when terminating employees.
Roadblocks to firing underperforming employees
Staying ahead
HR and payroll functions will only continue to become more complex, with demands increasing on multinational companies. Extra reporting and stricter legislation will require automation and technology, which can put pressure on HR and payroll teams.
What’s the solution? Partner with HR and payroll experts that can oversee global and local compliance in 80+ jurisdictions, delivering a wealth of expertise that would be uneconomical to sustain in-house.
Download Building a Workforce - extra HR and payroll information from the TMF Group’s original Global Complexity Report Index 2019. Contact us.