What do we mean by payroll maturity? At a fundamental level, every multinational company’s payroll department adheres to an established set of expectations around its processes, technology, and performance. Those expectations (and associated workflows, standards, and activities) tend to exist on a spectrum scaling from Immature to Strategic.
Are your processes helping you prepare for collaboration, transparency and resilience?
Are you using value added technology solutions, analytics, and automation to proactively improve?
Is your team setup to cultivate high-value intelligence and shape the future of their organizations?
Multinational organizations with IMMATURE payroll models operate with a siloed focus on executing the payroll process. Unlike companies with more mature payroll models, these organizations operate in a tactical manner with little or no visibility into payroll operations.
Teams and processes are typically focused exclusively on performing current tasks, rather than on any forward-looking opportunities or preventive measures. The processes of IMMATURE payroll departments tend to be high-touch and heavily manual.
Multinational companies with REACTIVE payroll models are generally focused on maintaining payroll expertise, compliance, and overall administration. Unlike companies with less mature payroll models, however, REACTIVE payroll departments apply some of their resources into addressing issues, mitigating risks, and preventing major failures.
Unlike those with more mature models, however, proactive activities may only be in place across a limited selection of countries or business units. The processes of REACTIVE payroll functions are medium- to low-touch and involve a moderate level of manual effort.
Backed by decades of global payroll experience, CloudPay’s payroll teams enable multinational organizations to streamline their payroll operations, improve performance standards and deliver more accurate and compliant payroll to their global workforce.
Multinational organizations with CONTROLLED payroll models are focused on improving payroll execution, boosting technical expertise, and achieving administrative excellence. Unlike companies with less mature payroll models, CONTROLLED payroll organizations are fully proactive in addressing issues, minimizing risks, and preventing major failures across most countries and business units.
Employee satisfaction and organizational trust with payroll tends to be high and the average cost per employee paid is low. CONTROLLED payroll functions keep the number of payroll systems involved to a minimum, with sophisticated solutions in place among their centralized payroll locations.
Multinational organizations with STRATEGIC payroll models operate with a focus on delivering value to the business and its global HR function. Unlike companies with less mature payroll models – which must maintain an exclusive focus on the execution of payroll tasks and processes – STRATEGIC payroll departments use value added activities, analytics, and reporting to support broader business objectives.
STRATEGIC payroll functions are also highly proactive in preventing issues and failures. Employee satisfaction and organizational trust with payroll is very high in STRATEGIC payroll departments, and the function tends to be well respected and highly regarded by senior management.