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Payroll & Reward

Remuneration packages need to be created, managed and distributed efficiently in order to make sure that employees are rewarded fairly and in the most cost-effective way for the company. Reward policy in Europe might include: salaries, bonuses, commissions, company cars, pensions, life assurance, profit-sharing, medical insurance…

Employees make a business and are key to its success. The use of an unreliable payroll technology risks losing their trust and motivation. Reaching payroll proficiency is an extremely complex task, as it involves managing tax compliance, reporting, and administration.

Attracting and retaining outstanding performers can be achieved in a number of ways, ranging from work perks to greater flexibility. The compensation, benefits and reward schemes are important both for motivating employees and attracting new talent to the company. Nowadays, salary and incentive packages are one of the main reasons why people apply for specific jobs.

HR must make sure that the right people get the right payroll, rewards and recognition, at the right time. Because employees who don’t feel adequately recognised are more likely to quit their job. And going through the whole process of finding new talent is very costful. It takes time, a lowering in productivity while the new recruitment is being trained, etc.

On the other hand, employee reward and recognition programmes motivate employees to change their work habits and everyday behaviours to benefit the business, improve organisational values, raise productivity, enhance team efforts and increase customer satisfaction.

To develop a good payroll and reward programme it is fundamental:

  • To align the business goals and the rewards programme.
  • Start by identifying the desired employee skills, accomplishments and behaviours that support the business goals.
  • To be consistent in time, so that employees can know what to expect. Accurate and timely paychecks and a regular reward and recognition programme can help engaged employees progress while they also improve the motivation of disengaged employees.
  • A good payroll solution.

What is multi-country payroll?

In today’s globalised economy, the ability to pay workers around the globe is an everyday requirement. But the complexity of payroll increases with each new country a company expands into. Different regulations, data restrictions… Challenges never end, but specific HR software can help you overcome them.

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