According to Gartner, the largest subprocess in the HR BPO market globally is Payroll, which constitutes 50% of the 2011 spending worldwide. Why are enterprises looking to BPO Payroll service providers for assistance? Below are four payroll challenges that we hear consistently from firms regarding payroll:
- Multi-country payroll: operating as a global company but managing local payroll subtleties
- Technology: managing multiple payroll systems and the costs associated with maintaining and interfacing systems
- Reporting: ability to quickly retrieve and analyze all global data
- Employee privacy: enabling employees multi-points of access while protecting sensitive employee information
- Of course with payroll the biggest challenge is the consistent pressure to get the payroll out on time and accurately regardless of the competing initiatives that divert focus and resources. But internal demands to improve operations and lower costs, while still meeting new regulatory requirements mean you can’t focus solely on the next payroll, you have to plan for the operational improvements and new requirements that are starting to appear on the horizon. What are your biggest challenges on the horizon in Payroll?
HP, one of the largest global payroll providers, offers global, end-to-end services to pay your active and retired work force. Our goals are to improve the satisfaction levels of leaders and employees, increase transparency of global payroll reporting, and reduce administrative costs and error rates. Learn more about HP’s payroll services and how HP will assist UniCredit in optimizing Payroll production and HR processes here.