Did You Take Your Payroll Partner To The Vet?
Many people have pets that they probably like better than their co-workers and maybe even some family members. Pets make you feel happy, foster trust (at least the ones that don’t bite), and perpetuate a mutually beneficial partnership. But any good pet owner knows that when adopting the adorable puppy, or meowing kitten, the first stop is to the vet to ensure you understand your new companion’s current health situation and potential future needs.
Moving, Moving, Moving, Keep that Money Moving- Global Payroll!
There are so many aspects that need to be accurate when executing a successful payroll run. As payroll professionals, we need to ensure we have the correct inputs for time, new hires, terminations, changes to pay, addresses, banking information, and many others. We combine all these details to calculate pay elements, compile proper pay slips, and file accurate compliance documents. Ultimately, the proof of a successful payroll run is getting employees paid, i.e. the correct amount of money in their accounts on the right day.
Implementing Global Payroll Is Never Child’s Play
2015 is almost all wrapped up, just the final bow on top. Looking back, what did we learn this year in the world of global payroll? Timing, integration, and commitment, from all parties, are the keys to payroll transition success.
Payroll transitions are a lot like assembling that cool gift you bought with 1000 small pieces for that special child in your life. Everyone rationalizes how long it will take to assemble said gift, which the instructions did not state, “five hours are required.”
How Real Is Real-Time
There is change afoot. Payroll compliance filings are being dragged into the limelight and closely examined for opportunities for improvement. Countries are starting to understand the value of having data in a more automated, accessible, and timely fashion. Ten years ago, monthly tax filings were processed manually, through mailed forms or in many countries, hand delivered.
BCP: Planning the Plan
Sara outlined the potential types of scenarios that would call for a Business Continuity Plan (BCP) to be enacted for payroll across her 20 countries. These included IT Infrastructure, Natural Disasters, Country Infrastructure Failures, Vendor Collapse, Banking Issues, Internal Staff Turnover, Heath Epidemic, Country Collapse and others.
Asset or Equity? That Is Question One
Greg overhead Robert telling Sara that the company made an acquisition of a complementary product line. It is always good news that the company is growing! He was glad that he had warning when his manager stopped by and mentioned that the acquisition comes with 16 new countries for payroll, and by the way, how should we handle the transition?…
Entity or No Entity – That is the Question
Alex from Business Development is at is again. That department has grandiose ideas of taking our nice stable 20-year-old company and creating a global giant in the next 24 months or die trying. Alex keeps telling us “There is a great market opportunity out there, and we need to get at it now! If we are not there now, our competitors will enter and own the space” and blah, blah, blah…
Sarah, back from the holidays replete with many days of eating, gift opening, party going, and carrying on with friends and family, shuffles to her desk. She glances at the emails that are somehow magically pouring into her email box. All those days of anticipation, hurried last minute filings and pulled forward deadlines were definitely worth it. But was all of it done properly? Are we all set with what we need to do this…
Payroll is Not Black and White
As the snowdrifts down on the many countries that are experiencing winter in all its glory and the world outside their windows soften to black and white images, we often wonder why life is not that clear cut. It seems that something like payroll should be pretty concise with very little interpretation needed. After all, is not that what governments and regulations are for?
Your Frenemy, the Payroll Calendar
In the payroll world, the calendar is your frenemy. You know what I mean – all of us meticulous individuals who do not actually count workdays by Monday through Friday, but by changes cut-off date, calculation date, funding date, pay date, and reporting date. Yep – you know who you are. As you are brushing your teeth in the morning, you are thinking about what color/symbol is on today’s pay calendar.
Time to Comply?
When we express contentment with a process, we say it runs like “clockwork”. But, for
all of us in payroll, clockwork can be highly complicated and has a compliance schema
all of its own.
For those of you in a salary payroll world, you may not want to read farther. Typically,
your concept of time is related to PTO (Paid Time Off) like sick, holiday, maternity, etc.
These updates do cause changes in payroll, normally regarding meal tickets, status on…
He Is Just A Contractor….
“What about Bob?” says one of your peers who works in Operations? “What do you
mean?” You reply. “I have a Rob Smith, a Robert Jones, but not Bob. Who is Bob?”
Your friend indicates he is a guy who has been working at the company for the last 8
months and he was complaining he has not been paid. But, you do not have a Bob on
payroll and then you think uh oh, I wonder if he is a contractor?
Because Happy About Global Compliance
In the UK, there is a big sigh of relief from payroll professionals across the country as they are checking off RTI and Auto enrollment. After living through months of agonizing integration, policy writing, and compliance reviews, people are doing the cabbage patch dance at their desk to the Because I’m “Happy” song by Pharrell Williams. You all know that song – you are probably singing it in your head right now.
How Hard Can the Easiest Payroll in the World Be?
So you are working cleaning up the loose ends of your last payroll run and your manager stops by. He casually asks, “Can you take over the Dubai payroll? Will is leaving the company and I think this would be a fantastic learning opportunity for you.” And you think – hmm Will never complained about collective agreements, taxes, deductions or other complexities, which I face every month with my European payrolls. So maybe it would be all right. Then you hear yourself say “Sure,” and you are thinking how hard can that be?
When is Zero Net Pay Just Perfect?
Your payroll manager is off on holiday, so you are pitching in and reviewing the payroll register for approval. It is the end of the day and you have agreed to meet up with a few friends at the pub after work. Then you notice a couple of people have zero net pays. This elicits the inevitable gut reaction of “that cannot be right” and instantly kicks you into detective mode. Ok – Helen is out on leave, check! Jeremy was put on the bench, check! But Sam is sporting a big fat zero. Wait – who is Sam? Sam, Sam, Sam – no bells are ringing, but he certainly has lots of taxable income and still a zero net pay. So you are thinking it is probably right (because how could he get on the payroll without anyone’s approval anyways?) But you feel a little squeamish about just approving the register without further review. So instead, you decide grudgingly to learn more about the situation.
The Last Mile
Consistently people discuss the “last mile” as the most complex or difficult part of a journey, a connection, an interface, or a service. It is the one piece of the process that cannot be automated, that is not a simple hand-off, utilizes older infrastructure, needs to consolidate disparate components or requires a different modality.