In this webcast, panelists discuss the challenges faced by payroll operations in today’s disruptive environment.
A rapidly changing world has widespread implications for payroll services. As companies become more global, the need for greater compliance, stronger risk governance and standardization across jurisdictions becomes more acute. Meanwhile, legislation around the globe grows increasingly fragmented and complex. This is further exacerbated by the number of COVID-19-related legislations: work-time reduction, forced leave, release of short-term contractors or furlough. Under a perfect storm of declining revenues and rising costs of aging populations, governments are also pursuing more robust means of payroll tax collection, thanks to the advances of digital technologies. Digital technologies also lie behind the stance by governments for greater regulatory transparency of personal data collection and greater analysis of data privacy safeguards.
The COVID-19 crisis has taught us many lessons about our existing business processes. Payroll professionals, often working quietly in the background, are navigating unprecedented times.
On 12 August 2020, a panel of EY professionals hosted a webcast and discussed the challenges faced by payroll operations in today’s disruptive environment, the opportunities for transformation and actions companies can take to navigate the landscape and plan for beyond.
We shared with the audience of over 1,000 professionals how a strong payroll function and robust payroll business continuity plan could determine whether employees get paid on time, correctly or even at all. Click here (pdf) to view the webcast summary.
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