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Press release
20 Nov 2024
|
London, GB
EY launches new Integrated Global Payroll Solution to transform and centralize payroll management
- Offers broad governance and control through a single service provider
- Helps businesses harmonize payroll data across the global workforce
- 100% of HR leaders recognize the benefits of having an integrated approach across payroll, mobility and labor law
The EY organization announces today the launch of a next-generation Integrated Global Payroll Solution, a managed service designed to streamline and help payroll management in-house for organizations with a global workforce.
Rapid regulatory compliance changes, new labor and privacy laws, and talent scarcity are significantly increasing the workload for payroll, mobility and labor law functions, and managing the payroll of a growing international workforce has become more complex and time-consuming in recent years. According to a recent EY survey¹ of 400 Chief Human Resource Officers (CHROs) and Heads of Talent across the globe, 92% of employer respondents say that the growing demand for international workforce mobility is further straining these functions, while 87% report that the rising demand for flexible or hybrid work arrangements is putting increased pressure on payroll.
The EY Integrated Global Payroll Solution responds to these trends and helps the HR and payroll function reduce risk by combining domestic, mobile and global payroll solutions into a single centralized, modular platform that connects capabilities across legal, advisory and compliance.
Sheri Sullivan, EY Global and EY Americas Payroll Operate Leader, says:
“The launch of the EY Integrated Global Payroll Solution marks a significant milestone in payroll management. Traditional payroll models struggle to keep pace with modern business demands and new ways of working, increasing the risks of non-compliance, data privacy issues, high costs and inefficiencies. This solution is designed to address the evolving complexities and challenges faced by organizations with a global workforce, providing them with the tools needed to take control and drive efficiency in their payroll operations.”
The demand for capabilities that leverage the latest payroll technologies, including artificial intelligence (AI), is also rapidly increasing as organizations recognize their potential to transform administrative tasks into strategic value drivers. The EY Integrated Global Payroll Solution harnesses these technological advancements to harmonize data across the workforce. This shared data approach provides a unified view, reduces duplication, help enhances controls and helps to ensure consistent decision-making and reporting.
Dan Hendy, EY Global Legal Transform and Operate Leader, says:
“Payroll, mobility and labor law services are typically highly siloed, so it’s not surprising that recent survey data¹ shows that on average, just 24% responding organizations are highly satisfied with their current service providers. In fact, all respondents to the recent study recognized the benefits of having an integrated approach across these three areas.”
Gerard Osei-Bonsu, EY Global People Advisory Services Tax Leader, says:
“Having a strategic HR function is a strong predictor of company performance. The EY Integrated Global Payroll Solution is a game-changer for organizations looking to optimize their HR and payroll functions. By leveraging the global reach and capabilities of EY teams, companies can drive greater efficiency, compliance and employee satisfaction, ultimately driving better outcomes and long-term value.”
-Ends-
¹ EY 2024 Integrated Global Payroll Solution Survey
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