Global Payroll Management: Trends and Challenges in 2024

By greytHR
2 minute read ● April 19, 2024
linked in
Global Payroll Management: Trends and Challenges in 2024

When it comes to global payroll, change is the only constant.

Tax laws, labor regulations, and compliance requirements are different in different countries. Also, they change when the respective country decides to make a change.

  • How can an organization manage its payroll when it operates in more than one country?
  • Can their software handle all the variations in payroll processes and regulations?
  • What is the Global Payroll Complexity Index?
  • Is the Indian payroll the most complex in the world?

greyHR had a conversation with a payroll expert to get these questions answered. He not only addressed these questions but also made an eye-opening presentation on the topic of Global Payroll Management: Trends and Challenges in 2024.

If yours is a company with operations outside India, this edition of the PSP Parichay webinar was a must-watch! Missed it? No worries. We have a complete recording for you.

Do you prefer a quick recap right now? 👇

8 Key Takeaways from the Webinar on Global Payroll Management

  1. India ranks #21 in the Global Payroll Complexity Index, a list of 40 countries ranked in terms of payroll complexity. This complexity is based on the top three factors: Mandatory deductions, social security, and compulsory reporting types.
  2. In terms of payroll complexity, France, Germany, and Switzerland are the top three in the same order.
  3. Saudi Arabia is ranked #40 (lowest) in the Global Payroll Complexity Index.
  4. As Indian SMEs open offices in other countries, payroll professionals must prepare themselves for the changing regulations/complexities in those countries.
  5. Payroll is like an equation; it's a combination of people, processes, and regulations. A payroll expert must understand the country's regulations to build the right processes and hire the best people to run these processes.
  6. Many countries expect the reporting to be in their native language. Therefore, local expertise is essential to handle payroll in those locations.
  7. Payroll is moving from a traditional back office to a more strategic business function. The HR Business Partner will now have a new competitor: The Payroll Business Partner!
  8. Different countries have their own data privacy laws. Payroll professionals have to keep abreast of the same since they handle a lot of personally identifiable information (PII).

“When we talk about global payment, it is not only about the local expertise, but it also extends to tax laws, employment regulations, social security, reporting requirements, and local language.”

Akash Mahagaonkar V, Director, Relativity Management Solutions India Private Limited

Do you want to hear it directly from the expert?

Watch the Webinar Recording

Related Posts

Info Tile Image
06/10/2023 | Thushara

Introducing the greytHR-Tally JV Integration: One-Click Payroll JV Posting to Tally

Find out about the integration between greytHR and Tally for automatically posting payroll journal vouchers every month. Learn how greytHR-Tally JV Integration works.

Subscribe to our newsletter

Stay on top of latest updates from greytHR on HR trends, statutory compliances updates and more.
  • HR & Payroll Administration
  • What is HRMS?
  • What is Payroll?
  • What is Statutory Compliance?
  • Guide to Leave Management
  • Guide to Attendance Management
  • Holiday Lists 2023
  • Holiday Lists 2024
  • Gender Inclusivity Report 2024
  • Product
  • HR Software
  • Payroll Software
  • Leave Management System
  • Attendance Management System
  • Performance Management System
  • Employee Self Service
  • Employee Engagement
  • greytHR Service Status
GDPR Compliant certification badge
Soc2 certification badge
ISO Certification Badge
WhatsApp LogoMessage us on WhatsApp
© 2024 Greytip Software Pvt. Ltd.
Privacy PolicyTerms of Use