The world seems to be coming to terms with and now adjusting to a new normal as a result of the Covid-19 global pandemic. While there is nothing comfortable about the current situation that we find ourselves in, an ‘adapt to survive’ attitude seems to have taken hold as office workers globally adjust to working from home for an indefinite period. It is almost impossible to avoid regular news updates as we all look for some amount of comfort and hope that fresh statistics around the Covid-19 outbreak will bring some insight into when we can expect things to return to normal.
For now, global payroll teams around the world are embracing communication technology to share tasks and updates and get as much work as possible done. Global payroll professionals are attempting to meet payroll deadlines using remote technology and video communication tools. They are also discovering that their legacy technology has certain limitations and are encountering additional challenges arising from staff shortages as well as payroll provider delivery issues. In this article, we'll take a look at the new normal for global payroll and examine some key learnings that have come to light in recent weeks.
New normal
Zoom, Skype, GoToMeeting or Microsoft Teams? Video conferencing is now the new normal as payroll professionals communicate across countries and time zones to process payroll. Folders and business continuity procedure notes are accessed remotely where possible and tasks are allocated or switched where necessary. Files are transferred, calculations are performed, reviewed and confirmed and bank transfers are completed.
Payroll is happening but we are in unfamiliar territory and many payroll professionals are finding that their ability to do their jobs is restricted or limited to the technology available to them. Decisions made in the past around technology investments are now coming under greater scrutiny as available technology is being tested to the limit.
Balancing a chaotic home life with daily work duties is also the new normal. Global payroll professionals at home with their families still need to find a way to carry out their payroll duties while also meeting household obligations. The personal and professional becomes blurred in the absence of a commute to the office, a location where previously you could separate the two.
Survive or Thrive?
Understandably, the focus is on the here and now - it is all about getting payroll done. Many payroll professionals are simply in survival mode but there are others who are looking to technology and seeing if it can solve a range of challenges that show up when delivering global payroll. Visibility of the end to end global payroll process is often a challenge and this can sometimes be harder when professionals are spread across countries and time zones. It can be difficult to get a clear view of exactly what is happening with your payroll- teams being forced to work remotely only makes it harder to get clarity.
To thrive in this new environment, you need to be working with an innovative form of technology. One that is flexible enough to adapt to changing business requirements while still ensuring the fluid delivery of standard global payroll. Those who are looking for solutions to key challenges might find that they can thrive during this crisis while those who are focused on simply getting payroll done may find that significant challenges will still exist after the crisis has passed. Payslip technology was designed to improve efficiency in global payroll delivery and it has features that help deliver payroll in the here and now while also allowing businesses to introduce innovation and flexible technology to their payroll operations. The new normal has been forced on us but it could be an opportunity to introduce change that will have long term benefits.
New Demands
A new normal means new circumstances and this inevitably results in new challenges. In global payroll, the current situation presents a few difficulties that need to be overcome. Remote access to everything teams need is not available to everyone working in global payroll. Anything stored locally on premise cannot be accessed remotely through digital channels. Those who do not run their payroll in a cloud-based environment are facing demands from their teams right now- payroll cannot be processed without proper access to data. Task switching is another new demand - it is increasingly necessary to switch tasks between people in different countries to cover staff absences or lighten workloads in specific teams. Adaptable technology is needed to make this happen and alleviate the pressure on over-burdened teams. The Payslip platform meets these new demands head on while also helping to position global employers to manage future challenges.
Pressure Points
Sometimes payroll vendors in your ecosystem may not have suitable business continuity procedures or robust contingency plans. A global economic crisis is something that will apply intense pressure here. In some circumstances, such pressure may result in payroll delivery failure and the need to switch or replace a vendor becomes immediate and urgent. This is an unhelpful scenario for many global payroll providers who find themselves needing to both source and onboard a new vendor onto their system rapidly. Payslip are experts in the rapid on-boarding of new payroll providers - our platform is flexible and allows employers to swap out or fully replace a provider at short notice. Our technology ensures any payroll service disruption is minimized or avoided completely. Global payroll teams around the world are currently finding out a lot about their vendors, in particular their ability to deliver under pressure or in unusual circumstances, such as the one we all find ourselves in today.
Innovation is key
Creative thinking and innovating with the use of technology is helping a selection of forward-thinking global payroll teams to adapt to this new normal. Some are seeking out specific cloud-based technology that will improve their processes, increase oversight and visibility while introducing flexibility like tasks switching into their teams. They are turning to technology partners who can help them on-board new payroll countries or vendors in a quick and efficient way. They are then upskilling team members to work with this technology to deliver their global payroll. This is innovative thinking supported by financial investment in future proof technology that can help them deliver payroll in the here and now, but also better position them for efficient global payroll delivery in the future.
The Payslip response
We are in regular contact with all our clients and others in the payroll ecosystem, listening to their concerns and learning about how they are adapting to the new normal. We are providing information, analysis and helpful advice to a client base who understandably, have a range of questions and concerns right now.
We have set up a rapid response solution that allows us to quickly onboard a payroll function to our platform and get them using are flexible technology quickly. We have created this solution in direct response to the key issues we see happening in the payroll landscape today.
Once you are set up on our platform, you can immediately begin benefiting from the features designed to solve some immediate problems in payroll:
- access payroll files, data and continuity procedures remotely
- assign or switch tasks across countries instantly
- produce real-time cost analysis reporting
- gain immediate high-level visibility over your end to end payroll process
Our solution was created to be an effective response for anyone in global payroll facing urgent issues as they approach global payroll deadlines. Our team is ready and waiting and we are here to help. Talk to us today to learn more.