Digital transformation: Work anywhere pay everywhere

Remember the pre-pandemic days when we all still “went” to work? It can be surreal to think about because since COVID-19 upended the globe, the perception and structure of the traditional way of working has been changed dramatically. From the boardroom to the virtual mailroom, nearly every corporate enterprise and emerging organization worldwide has enabled remote working, and the shift has worked. Both employees and organizations have reported improved engagement and customer satisfaction.

Remote work is not new, but the pandemic has accelerated the shift, generating what will be a permanent change in how, and where, work gets done. And this new work from anywhere movement is being embraced by multinational, micro-multinational and emerging multinational organizations as a critical talent acquisition and retention tool. Why? Because when employees can work anywhere, companies can hire anywhere. And for many companies, the digital transformation of workforce technology will be a key component of their success.

Finding qualified and experienced hires remains the top challenge facing companies in the talent acquisition process. In a Safeguard Global survey of HR and payroll leaders across 200 organizations, 75% of decision-makers reported that managing a global workforce feels daunting. They cited corporate culture adjustment, lack of employee skills, and disparate data across countries as the most challenge aspects of operating internationally. Yet, despite those challenges, 80% of respondents believe that the ability to operate in multiple countries is vital to their success.

The ability to hire anywhere greatly expands the talent pool for organizations, providing a competitive advantage through stronger talent. For example, Latin America has a largely untapped pool of 1.2 million experienced engineers. The question is: Are you prepared to pay everywhere?

Employers are competing for talent across hundreds of geographical markets. And they must be able to pay compliantly, correctly, and on time in order to take advantage of the opportunity to hire anywhere and support their employees who choose to work from anywhere. New technology, such as web conferencing, has provided a smooth transition to remote working around the world, but many companies still struggle to operate seamlessly when it comes to backend operations like payroll.

While most workers experience this change to remote work to be easy and intuitive, only a few people are responsible for new hire onboarding and payroll. These individuals continue to deal with the challenges of compliantly hiring and paying employees across different countries and currencies.

Overcoming the challenges of managing a global workforce will become one of the top priorities. To hire anywhere, companies must be able to pay everywhere. Do your company’s current solutions provide automated guidance and compliance that enables work from anywhere? Can you hire, pay, and comply in any area of the world?

If your company is looking to take advantage of the opportunity to hire anywhere in the world or support employees that are looking to work from anywhere, the transformation of workforce technology will be key to success.

The transition to a remote-first, globally sourced workforce requires more than just collaboration tools like Slack or Zoom. Businesses must remove fundamental obstacles to growth, such as traditional payroll processes and decades-old solutions that do not facilitate hiring across countries or continents. As companies adjust to a new normal in HR and workforce management, they can go a long way toward remote work success by transforming their systems and processes through better technology built for a truly digital and multinational workforce.

Safeguard Global is the world leader in digital HR transformation. To learn more about how to use workforce data to support your organization’s success in the global economy, read our white paper Introducing Global Fluency.