Embrace Managing a Global Workforce with Minimal Risk, Maximum Reward
In today’s interconnected world, traditional workforce management concepts are rapidly changing. Some might even argue they have all but evaporated. As technology advances and communication barriers diminish, companies increasingly are tapping into the global talent pool to fuel growth, expand reach, and cut costs. This paradigm shift, which began a decade ago but accelerated with the COVID-19 pandemic, is evident as a growing business trend for U.S. companies in particular, which are choosing to hire employees remotely in Canada and Europe.
However, this transformation isn’t without its challenges, especially when it comes to managing global payroll and HR requirements. While global business and international employment are what businesses require right now, it’s a complex issue with inherent risks.
Read the full article, featured in the Daily HR Advisor to learn the risks of do-it-yourself global payroll and HR, when your company may not have the expertise on:
- The intricacies of different countries’ labor laws, taxation systems, and cultural norms
- Managing paying employees in different currencies
- Currency conversion and potential losses
- How to find the right partners to outsource these functions