The ability to scale your talent strategy across borders opens up endless opportunities. But learning the ins and outs of multi-country payroll management? It can feel overwhelming—and the challenges leave many HR and payroll teams stressed about the workload and worried about compliance.
If your organization is expanding globally, but you’re finding it difficult to keep up with various laws, currencies, and tax requirements, we’ve got just the thing. Learn how to run payroll for your international team with Oyster’s hot-off-the-press global payroll guide.
Managing global payroll: Why it’s so tricky
When it comes to multi-country payroll management, there’s a ton to consider. You need to:
- Navigate currencies and exchange rates: Different currencies and fluctuating exchange rates can complicate the payroll process. But it’s important to get it right—otherwise you could underpay or overpay your employees.
- Understand tax laws and deadlines: Each country has its own tax laws, deadlines, and reporting requirements. As you scale, it can be hard to stay on top of them all!
- Classify employees properly: Different employment statuses come with different payroll regulations. And it’s not just a matter of full-time versus contractor employment. Some countries have different laws for temporary versus permanent employees, full-time versus part-time employees, and exempt versus nonexempt employees.
- Abide by local labor laws: Minimum wage laws, mandatory employee benefits, data management and protection—beyond tax laws, there are endless local labor laws to learn and understand.
- Find the right vendors: At first, an organization may only need a solution to support payroll in another country. But as they scale, they may wind up juggling multiple vendors—and this can lead to inefficiencies, errors, and many, many headaches!
What you’ll learn in Oyster’s payroll guide
Basically, we’ve got answers to all those challenges listed above so you’ll know how to run payroll for your international team confidently! Learn:
- Your top responsibilities and what you should keep a record of
- How to navigate different currencies, exchange rates, expenses, and pay periods
- Key considerations of taxes, including deadlines, deductions, and reporting requirements
- How employee classification relates to payroll requirements
- Approaches to multi-country payroll management and guidance on choosing a solution
Plus, you’ll find a global payroll compliance checklist to help you build a structured payroll process that’s efficient, accurate, and compliant.
You’ve got the guide—what about a partner?
Imagine having all these complexities handled for you. You could shift your focus to other areas of the employee experience. And for distributed or hybrid organizations, we know there’s oodles to do—and never enough time!
Meet Oyster’s global payroll product
As a global employment platform, we’re very acquainted with the complexities of global payroll—and have a robust solution that covers every angle.
Instead of relying on multiple vendors, outdated methods, or clunky systems that don’t integrate well, you can use Oyster as your global payroll partner to streamline processes, limit costs, reduce errors, avoid delays, and improve the employee experience:
- Use one platform to manage global payroll: Pay your entire global workforce (full-timers or contractors) from one platform, whether you hired your workers with Oyster’s EOR or not!
- Track, change, and approve payroll in minutes: Instantly view your payroll runs, make changes, approve payments, and track progress with simple workflows.
- Pay your team accurately and compliantly: Ensure that your team is paid accurately, with correct deductions and tax calculations, even as laws change.
- Integrate payroll workflows with your HRIS: Effortlessly sync your payroll data and workflows with your go-to HR tools, including your timekeeping and HRIS.
- Streamline global talent expense management: By handling your expenses through payroll, you can maintain control, ensure policy compliance, and simplify the accounting and tax treatment of these reimbursements.
- Keep payroll specialists right by your side: With our global payroll consultants available around the clock, you’ll have expert guidance whenever you need it.
Insights and support await
Multi-country payroll management? You got this! Grab Oyster’s global payroll guide and checklist to help you through every step of the process.
Want to learn more about Oyster’s global payroll product? Head here to see how we can help.
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