Making sure your HR team functions at its highest capacity will improve
operations for multinational organizations. Unfortunately, as businesses scale
and grow around the world, HR strategy can often become an afterthought.
While the growth and expansion of a business is typically a sign of success,
it can quickly lead to problems if the expansion isn't handled correctly. As
you hire more people to meet demands, you’ll need to onboard efficiently,
ensure accurate and timely payroll, and provide both employee and managerial
support.
For business leaders experiencing growing pains, we’ve outlined the three most
common signs that could indicate whether your business is ready for the HR
transformation process:
- Manual payroll processes lead to increased errors and compliance issues
- Your onboarding and benefits enrollment process is slow and complicated
- Outdated technology and tech support create unnecessary frustrations
Some companies may already be struggling with these challenges, while others
might simply want to get ahead of the game. In any case, the HR transformation
process will help your HR team provide optimal support for the broader
organization and its strategic objectives. Think of it like a redesign of the
HR function, involving major changes as imposed to incremental improvements.
1. Manual payroll processes lead to increased errors and compliance issues
The employee experience is a critical component of your brand reputation and
retention strategy. No employee likes to get paid late or incorrectly. And no
business likes to pay unnecessary fines and fees due to noncompliance. Manual
payroll processes leave more room for errors and often delay payroll
processing altogether.
According to the IRS , 33% of
employers make payroll errors that cost billions of dollars annually, and 25%
of all U.S.-based workers have experienced paycheck miscalculations. The same
study found that, out of all payroll activities, manual data entry results in
the most mistakes.
This is often due to inaccurate or incorrect data being submitted. Anyone is
bound to make a mistake when there are several management systems in place and
different processes in place across all locations of operation. Not only do
Payroll laws and requirements vary across international borders, but they also
very across U.S. states, so if you have employees in more than one area,
manually keeping track of the data can be extremely complicated. This makes
your payroll processes vulnerable to human error. It can also lead to a
decrease in morale for your HR team.
By automating your payroll process and consolidating vendors, you’ll save
money, remain compliant, and improve operational efficiencies for the entire
HR department. An HR solution like HR 360
is imperative for automating
manual payroll because it extends your team’s capabilities, providing guidance
and support for contracts and onboarding, benefits administration, performance
management, compliance and more.
It can also provide your team with more uniform and user-friendly processing
documents and a centralized view of your global payroll operations, allowing
you deeper insights into the state of your company, so you can make more
informed business decisions.
By automating your payroll, your HR department will spend more time on
developing business strategies and improving other aspects of operation—like
employee morale and managerial support.
2. Your onboarding and benefits enrollment process is slow and complicated
Employees increase their work efforts by about 20% when they’re subjected to
an effective onboarding program, according to research conducted by the Corporate Leadership Council. In fact, a great employee onboarding process can help you increase employee retention by 82%.
But a negative employee onboarding experience can make your new hires twice as
likely to start looking for new opportunities. The same can be said for a
complicated benefits enrollment process.
Even for a large multinational business, first impressions matter. According
to a study by SHRM, almost 90% of all new hires decide whether to stay or go within the first six months of their new job. So,
if your onboarding process is sloppy or nonexistent, you should consider
taking immediate action. Without the proper support from the beginning, an
employee is more likely to be wary of the organization and thus not as
committed to the business as you’d like them to be, which can lead to high
levels of turnover.
By streamlining your HR processes and automating your payroll systems, your HR
team will have more time to make improvements to your benefits enrollment and
onboarding processes across the entire organization. Here are a few ways HR
360 can support you in these efforts:
- Better hiring and onboarding: We offer HR support right from the start. We’ll facilitate background and medical checks, administer compliant employment contracts, onboard employees and administer benefits according to the local requirements.
- HR compliance: HR 360 helps mitigate the risk of noncompliance. From employment laws and wage regulations to payroll taxes and insurance audits, our in-country HR experts can help ensure you’re fully compliant with local legislation.
- HR administration: Beyond onboarding, count on us for ongoing HR administrative needs. We provide HR consulting, benefits and performance management, strategic HR planning and ongoing employee support.
3. Outdated technology and tech support create unnecessary frustrations
HR professionals spend a whopping 86% of their time on admin work, according
to EY. “Leaders must
accelerate digitalization and liberate HR to deliver new people services to
the workforce.”
Without the right technology in place to automate the manual administrative
work, HR leaders won’t have the time to focus on important initiatives like
creating a smooth and thoughtful onboarding and benefits enrollment process.
Instead, their time will be spent trying to solve the payroll errors and
noncompliance issues that arise as a result of running a manual payroll across
multiple jurisdictions. Additionally, outdated HR technology provides little
to no visibility into the state of your business, making it nearly impossible
to make data-driven decisions on a global scale.
By implementing an advanced HR solution like Workday
,
your team will have access to a global view of important data, save time by
automating important HR and payroll processes, and enlist the support of a
dedicated tech team should anything go wrong along the way.
About Safeguard Global
When it comes to consolidating and preparing for the HR transformation
process, it’s important to work with the global experts. Without in-country
expertise, many providers may be unable to meet the full spectrum of your HR
needs.
Safeguard Global’s local experts keep you compliant with employment laws and
regulations in more than 170+ countries around the world. When it comes to
international human resources, HR 360 can elevate your business systems and
keep your operations running smoothly.
Contact us today to
speak with a global solutions advisor and learn how Safeguard Global can
compliantly meet your international hiring needs.
Schedule a free consultation
Meet with one of our payroll experts to discuss your current business challenges and how our solutions can help.