EY has announced the launch of a next-generation Integrated Global Payroll Solution, a managed service created to assist payroll management in-house for organizations with a global workforce.
With new regulatory compliance changes, shifting labor and privacy laws and talent scarcity increasing the workload for payroll, mobility and labor law functions, there is more on organizations’ plate with growing international workforces.
A recent EY survey of 400 chief human resource officers (CHROs) and heads of talent internationally has shown that 92 percent of employer respondents see the growing demand for international workforce mobility further straining these functions. At the same time, 87 percent report that the rising demand for flexible or hybrid work arrangements is putting increased pressure on payroll.
In a bid to help with these issues, EY with its Integrated Global Payroll Solution aims to help the HR and payroll function reduce risk by combining domestic, mobile and global payroll solutions into a centralized, modular platform that connects capabilities across legal, advisory and compliance.
Sheri Sullivan, global and Americas payroll operate leader at EY, expressed her hopes for the new solution: “Traditional payroll models struggle to keep pace with modern business demands and new ways of working, increasing the risks of non-compliance, data privacy issues, high costs and inefficiencies.
“This solution is designed to address the evolving complexities and challenges faced by organizations with a global workforce, providing them with the tools needed to take control and drive efficiency in their payroll operations.”
The demand for capabilities leveraging new payroll technologies, including AI, can be seen growing as businesses tap into their potential to turn administrative tasks into strategic value drivers.
With its latest payroll addition, the professional services company is targeting to harmonize data across the workforce, provide a unified view, reduce duplication, help enhance controls and ensure consistent decision-making and reporting.
Dan Hendy, global legal transform and operate leader at EY, said: “Payroll, mobility and labor law services are typically highly siloed, so it’s not surprising that recent survey data shows that on average, just 24 percent responding organizations are satisfied with their current service providers. In fact, all respondents to the recent study recognized the benefits of having an integrated approach across these three areas.”
In other recent news, EY and Microsoft teams partnered on a new mobility model by pairing technology and services to assist workforce mobility for global teams, creating a data-rich platform.
