In the last year, we’ve seen how our mindset about change can make all the difference. When we develop a growth mindset that helps us recover from setbacks and transform problems into growth opportunities.
During the last year, we’ve seen that when we are ready to embrace change, we can find new and better ways to serve our employees and our customers. When we are poised for change, we can achieve rapid customer growth.
Just think of the ways our work life has evolved. Let’s take a quick overview of three areas. Technology. Customer service. Payroll. Today, we are more flexible and agile in each area than we were even just a year ago.
Today, we’re using technology such as Zoom to communicate with clients, employees, and remote teams. We’re no longer shy about having a bad hair day. We no longer feel we must meet in person to be effective. Technology is enabling us to connect on a much more personal level.
Customer service. More businesses are seeing the value of having round-the-clock customer service agents, ready and able to respond to their customer queries. Customer service centers are rapidly filling the needs formerly managed in-house.
Outsourcing payroll is growing as a favored solution, especially for companies who are seeking to expand rapidly into new regions, countries. With the rise of remote working, virtual project teams, and independent contractors, more businesses are relying on global services to outsource payroll.
Perhaps you’re wondering what will work best for your company. You may be considering outsourcing payroll risks and benefits. Let’s explore this in closer detail.
Outsourced Payroll Risks
When you’re committed to rapid growth, it helps to understand the risks of working with an outsourced payroll service. The top risks include reactive service, rigid service structures, and poor fit:
- Reactive Service. Some payroll services rely on the client to be an expert in foreign compliance issues. Yet, the logic is faulty. You’re looking for your service to be the expert and offer proactive service.
- Rigid Service. Many global providers rely on strict service guidelines to protect their client relationships. This can be problematic if you are looking for a personalized approach, and are seeking a collaborative relationship.
- Business Model Fit. If your needs are complex, evolving, and unique, you may have a poor fit with a rigid service provider. Fit is essential as you want to have your global service provider remove headaches, not cause them.
Outsourced Payroll Benefits
While there are many benefits to outsourcing payroll, the top three often emerge as compliance, convenience, and automation:
- Compliance Issues. Many HR departments find that keeping up to date with compliance issues in multiple countries is extremely time-consuming. With local and national laws changing rapidly, it is useful to work with global experts who know local employment rules and regulations.
- Convenience. Working around the globe is challenging with time differences, cultural expectations, and social norms. Workers across the globe will have ongoing requests around the clock. With time differences, you could be spending your nights and weekends answering routine questions or responding to expense requests.
- Automation for Efficiency. To support an efficient workflow, consider automated payroll. You’ll save loads of headaches and time in paying international employees. You can have peace of mind knowing that your employees are paid salaries, with complete tax filings and end-to-end payroll support.
Maximizing Our Ability to Change
As you face the next year, look at what you can do to lead change. Now is a great time to have some personal conversations with your leadership team, managers, and staff. Explore what you can do to build skills, increase creativity, and evolve your perspective on change.
Often, at the beginning of a year, we review our actions to understand and learn. What worked about last year? What did you learn, discover, and implement that you never imagined you could? What did you share with your team and co-workers?
At the same time, we can look forward. What would we like to accomplish in the year ahead? What can we do to transform our attitudes about change? What can we do to foster a healthy respect for the power of learning, growing, and evolving?
A year from now, what do you want to be able to say, feel, and experience? Now is the best time to start maximizing our ability to change and respond to changing conditions.
Open Business Council offers resources, Trade Finance, business advice, SME Finance and a forum and directory for businesses! Improve your business and use the best digital, financial and funding tools to grow ROI – return on investment and ROA – return on attention!