Inaccuracy and inconsistent service levels biggest bane of global payroll professionals' lives

But the situation is not helped by the lack of a single global payroll system, a survey has revealed. 

The biggest challenges faced by global payroll professionals relate to payroll accuracy and inconsistent service levels, according to a new study.

A survey of 500 payroll and HR leaders working for multinational corporations showed that a huge 56% had problems ensuring their payroll was accurate across different geographic markets. A further 42% found it difficult to maintain high service levels, while just over a third said that providing the service itself was proving too costly.

Managing partners was also found to be an onerously time-consuming task by 29% of respondents, while one in five were hampered by a lack of international reporting capabilities.

Thierry Vanbever, director of global services and solutions at payroll services provider SD Worx which conducted the poll, said: “This research shows that, staggeringly, most global organisations have not yet woken up to the fact that ineffective payroll systems are eating into business profit by increasing both cost and complexity. This issue needs to be elevated to further to marry the HR department with the C-Suite agenda – only then will the gains of having one single source of payroll record be fully understood.”

The survey also revealed that, even though a huge 90% of respondents believe that a single payroll system provides the highest benefits in terms of consistency, accuracy and visibility across operations, just under a third had one. Amazingly, just over 5% said they relied solely on manual and completely unautomated processes to get by.