A wide range of skill sets is required for anybody looking to manage a team at a modern multinational today, however it could be argued that the level of skills required in global payroll management have grown a lot more in the last decade in this business critical function than many others.
The rapid scaling of multinational companies into new regions and territories has resulted in a huge increase in activity across the payroll department. Multi-country payroll, compliance and regulation commitments along with local country nuances all merge together to create a complex web of interlinked responsibilities that require diligent management on a daily basis.
In this article, we are going to examine some of the key skill sets that are now required to become a global payroll manager and effectively handle all of the varied duties and responsibilities that are now associated with the role.
Numbers and Data
It will come as no surprise that an ability to work with numbers and high-volume data is an important part of the role. While this may be an obvious interpretation, many are still unaware as to just how detailed and complex the level of data management and analysis is now involved in global payroll delivery.
A strong head for numbers together with a sharp ability to spot variances and anomalies is needed to ensure the effective delivery of global payroll across a range of different countries. There is no room for error as people have little tolerance for things going wrong with their paycheck-the fact that this rarely happens is testament to the diligence and endless double checking of figures and data carried out by global payroll professionals on a daily basis, under the supervision and management of a global payroll manager.
Communication
Every management role today involves people management, therefore strong communication skills are simply essential. It is advisable that anyone promoted to the role of manager attend a communication course, regardless of the business function in which they operate. A new level of communication skills is required when it comes to managing people with varying skill sets and different cultural backgrounds.
Also, a global payroll manager will be communicating with stakeholders they may not have communicated with in the past. For example, leadership teams today need business intelligence from global payroll and the manager may be required to present and articulate analysis around the data coming out from this department.
Global payroll managers will also have to interact with outsource partners and third-party payroll providers as well as payroll employees in other countries, so ongoing communication is likely to be a big part of their day. There is also a new expectation that a global payroll manager becomes an advocate for the global payroll team, highlighting their strengths and the importance of the role they play in a business critical function, so that the needs of the team are understood at a wider company level.
Digital Skills
New technology is emerging all the time and there is a growing need for global payroll systems to use innovative technology in the delivery of payroll. It is of vital importance that a manager of a global payroll team is aware of and understands the role that technology plays in global payroll delivery.
A manager needs full awareness of the current technology in use and whether or not it is fit for purpose in the delivery of payroll. This manager also needs to be aware of the alternatives out there and be in a position to outline the benefits of investing in new, innovative technology which can help improve the delivery of global payroll.
A new manager in global payroll will need to become familiar with things like cloud-based platforms, machine learning automation and artificial intelligence. Any technology that can introduce automation to global payroll will be of huge value, so a manager needs to know everything there is to know about it.
It is also important to be aware of any software that can help with global consolidated reporting. Platform integrations are also likely to play a major role in the future of global payroll, so a manager needs to know about the capabilities of the current platform in use, how it interacts with other business functions like HR and finance, and what platforms are out there that can improve the manner in which these departments share data and business intelligence.
Other digital technology that could be of benefit to a global payroll team include communication tools, file sharing tools, customer service chat bots and employee self-service functionality. A manager expected to lead a global payroll team will need to be fully immersed in any next generation technology likely to have a major positive impact on the delivery of global payroll.
Trust Building
This is one of those often overlooked ‘soft skills’, but it can be really valuable when it comes to creating an atmosphere of teamwork among a selection of people located in different countries, who need to work together towards a common goal.
The team needs to trust their manager and vice versa, it is the job of the global payroll manager to create a framework in which trust can be developed and nurtured. It is not a one-off speech or presentation, instead it is a continuous process of investing time to communicate important things to global payroll professionals and get their opinions or feedback. This can be in the form of a one to one conversation or a wider team call-the global payroll manager needs to decide what the best approach is based on the information available about team members.
Team members need to feel they are working with a proactive person who understands their needs and is capable of responding to these needs on a regular basis. The manager needs to create an environment of trust and an open-door policy where all team members are in a position to approach, speak their minds and raise issues in a constructive way.
The value of trust is that it creates a more open and transparent environment in which to work in. It also helps people to feel more comfortable, and when people are comfortable, they are far more likely to suggest ideas for process improvement and try new things. This also empowers professionals carrying out daily global payroll tasks to think of ways in which they can do their jobs better, knowing that the trust exists with their manager and they will be heard.
Compliance Awareness
Good compliance knowledge is simply mandatory today in global payroll. In very large multinationals, there will likely be an entire team dedicated to compliance for the overall company, but it is a complex and wide-ranging subject in global payroll and therefore a global payroll manager needs to continuously update their knowledge.
There is no avoiding responsibility when it comes to compliance and it is very important from a financial and reputational point of view, to avoid fines or penalties related to compliance failures. A manager cannot know everything about country specific regulation, but there are resources and documents out there to help them develop understanding and insight.
A good global payroll manager will continually be aware of compliance obligations, read up on global payroll regulation developments and be in regular contact with legal and compliance representatives in the company.
Data Security
It is no longer possible to be a manager of any business-critical function without paying close attention to things like data security, online data trends, cybersecurity technology and privacy. We live in a digital economy filled with big data and any person in charge of managing a team or department is also in charge of managing the data that is either created in or flows through that department.
A strong level of awareness around the consequences of data security lapses or data breaches needs to be developed quickly for somebody to excel in the role of a global payroll manager. Personal employee information and sensitive company data will always form a part of any monthly pay cycle and it is crucial that all team members adhere to the important data security measures in place to protect this information. It is the responsibility of a global payroll manager to understand these measures fully and ensure the payroll team is continuously monitoring data and watching out for issues.
Talent Development
A global payroll manager has a responsibility to develop talent to ensure that their team is filled with the most qualified and capable people. The goal is to not only deliver global payroll effectively and accurately in the present but also create a framework that helps develop the next global payroll manager.
If that person can be promoted from within, then they will come to the role with an inbuilt understanding of how global payroll is currently delivered as well as being familiar with the level of technology that delivers it. This is something that strengthens the position of the person in the role and the global payroll department as a whole. It allows for both effective global payroll continuity as well as some deep insider knowledge and insight around areas for process improvement.
It also helps with team empowerment and employee morale - a global payroll professional joining a team will want to know that there is a career path available to them. It is an opportunity to establish who the motivated individuals are and what their career goals are within global payroll. A good global payroll manager will be interested in developing talent as this is something that strengthens the team in general and also better prepares the team to handle future challenges.