Global Payroll – Serving Employees Accurately | INS Global
Global Payroll

Global Payroll

What Is Global Payroll?

Ensuring correct, timely, secure, and efficient payroll for a globalized company structure is a problem many companies do not fully have the time or resources to manage. This kind of payroll process requires specialized tools and knowledge, meaning it can be best performed effectively by a professional global payroll outsourcing provider.

STEP BY STEP

What Does Providing Payroll for Your Global Employees Entail?

Successfully managing payroll functions for your staff around the world requires following a complex set of steps:

1

Getting familiar with all relevant aspects of local law, tax law, and payroll regulations

2

Establishing a local legal entity to employ your staff

3

Compile your employee data

4

Storing and protecting your employees’ data

5

Paying and managing taxes for your employees

Knowing the functions you need to manage depends on the local labor laws and requirements. Errors can mean potentially significant fines or penalties, as well as delays to your business operations.
Setting up and incorporating a new company in your target market can be a challenging procedure by itself. Still, to provide payroll for your team, you first need to be able to employ your workers and pay them in that country.
This means keeping meticulous records of your employees’ personal, work, and bank details and knowing each individual’s tax and social security information.
You will need to set up and manage a payroll system for storing employee data mergeable with data from your offices in every country you work in. This data will also need to be stored securely to abide by appropriate data privacy laws.
Paying your employees means more than simply transferring money. As the employer, you must ensure that payments are made following all local tax and social security procedures.
1

Getting familiar with all relevant aspects of local law, tax law, and payroll regulations

Knowing the functions you need to manage depends on the local labor laws and requirements. Errors can mean potentially significant fines or penalties, as well as delays to your business operations.
2

Establishing a local legal entity to employ your staff

Setting up and incorporating a new company in your target market can be a challenging procedure by itself. Still, to provide payroll for your team, you first need to be able to employ your workers and pay them in that country.
3

Compile your employee data

This means keeping meticulous records of your employees’ personal, work, and bank details and knowing each individual’s tax and social security information.
4

Storing and protecting your employees’ data

You will need to set up and manage a payroll system for storing employee data mergeable with data from your offices in every country you work in. This data will also need to be stored securely to abide by appropriate data privacy laws.
5

Paying and managing taxes for your employees

Paying your employees means more than simply transferring money. As the employer, you must ensure that payments are made following all local tax and social security procedures.
Payroll procedures have to be correctly performed for every staff member, and ensured every pay cycle in every country. Outside of these monthly functions, the complexities of global payroll also make it essential to have specialist HR staff follow and adapt your payments to every change in the law as it occurs.

How Outsourcing Your Global Payroll Can Benefit Your Company and Employees

You can manage all aspects of the payroll process for every country you operate in through a single point of contact. More than that, it ensures that every relevant change to local laws is applied immediately to your services, meaning you avoid potential fines or fees.

Global payroll outsourcing means having the most time-consuming and complex parts of the payroll process done for you. An outsourcing service provider like INS Global ensures your overseas employees are paid correctly, on time, and in a way that respects every applicable local regulation.

Employers of Record and Payroll

As an alternative to payroll outsourcing services, you can even operate through a PEO or global Employer of Record to provide faster market entry and avoid the hassles of establishing separate legal entities.

5 Advantages of Global Payroll Outsourcing Services

Global Requirements, Local Expertise

A professional global payroll services provider puts their expertise to your use by providing local knowledge and resources in all of your target markets. This way, there are no surprises when local regulations change or affect your business.

Reliability

Professional services mean professional experience and expertise. Specialized industry-specific tools and a range of payrolling systems and strategies mean there are solutions to every problem, and your employees are paid on time, every time.

Cost-Effective

Global payroll costs can quickly balloon due to expanded overheads, multiple fees or requirements in numerous countries, and the chance for penalties or fines due to a lack of familiarity with local regulations. A professional services provider streamlines all payroll functions into one cost-effective monthly fee per employee.

Time Reduction

A payroll services provider gives you the work output of an entire team or department with fewer management hours than it would require to run it in-house.

Compliance Assurance

A professional service provider understands the nuances of global and local payroll regulations and gives you access to legal expertise wherever you operate, meaning you can feel secure at all times.

Global Requirements, Local Expertise

A professional global payroll services provider puts their expertise to your use by providing local knowledge and resources in all of your target markets. This way, there are no surprises when local regulations change or affect your business.

Reliability

Professional services mean professional experience and expertise. Specialized industry-specific tools and a range of payrolling systems and strategies mean there are solutions to every problem, and your employees are paid on time, every time.

Cost-Effective

Global payroll costs can quickly balloon due to expanded overheads, multiple fees or requirements in numerous countries, and the chance for penalties or fines due to a lack of familiarity with local regulations. A professional services provider streamlines all payroll functions into one cost-effective monthly fee per employee.

Time Reduction

A payroll services provider gives you the work output of an entire team or department with fewer management hours than it would require to run it in-house.

Compliance Assurance

A professional service provider understands the nuances of global and local payroll regulations and gives you access to legal expertise wherever you operate, meaning you can feel secure at all times.

Streamline Global Payroll Processes With INS Global

You should consider hiring an independent contractor in several different circumstances:
We can take care of all of your payroll needs through one point of contact and a single monthly payment. You provide us with the details we need regarding your employees, and we can take care of the rest.
Payroll outsourcing handles:
  • Payment calculation and processing
  • Arranging payslips
  • Tax calculation and management
  • Withholding social security contributions
  • Regulatory Compliance Assurance

FAQs

Initially, all you will have to do will be to provide employee details and payment information. Then each month, all we will need is information on hours worked and any changes you wish to make.
Payroll outsourcing provides you with fast, accurate payroll for your employees worldwide while you focus on building your business or achieving your goals.
INS Global’s payroll outsourcing service can also take care of your independent contractor management needs worldwide by ensuring correct monthly payments in the same way as your full-time or part-time employees.
Generally, there can be a concern that payroll outsourcing means less control over employee payment and HR functions. However, INS Global provides constant communication and adjustments to employee payroll as you need.
INS Global has offices worldwide with clients in over 80 countries. Our multinational global mobility teams operate in every timezone to provide services that boost your expansion potential and aid rapid market entry, wherever you are.
Unlike some payroll outsourcing companies, we can provide scalable services to meet your demand. We can manage payroll for you with no limits on the number of employees.
We take our clients’ protection exceptionally seriously. We ensure the total safety of your company’s information and your employees.
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