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Few companies today are purely national in scope, even small “mom and pop” shops. Many multinational organizations also employ multinational employees made up of people from diverse cultures speaking a range of different languages. A startling 78 percent of companies now manage teams of employees beyond their national border.
Today’s workforce also comprises more than just fulltime employees, including such non-permanent workers as independent contractors, temporary employees, freelancers and other contingent workers—across the entire globe.
In this vastly changed environment, talent recruitment and retention has become progressively more strategic. 55 percent of companies currently source talent outside the home country, requiring 58 percent to implement HR policies that address this increasingly global workforce.
Other human resources functions also are challenged. A case in point is global payroll. 85 percent of companies with multinational employees believe their payroll practices need improvement, with one out of four citing incorrect tax withholding as a frequent payroll mistake.
Obviously, managing today’s far-flung workforce requires HR systems and processes that appreciate these challenges, applying principles of centralization, flexibility and standardization. Ultimate Software’s single, comprehensive HRIS/HRMS system presents a complete view of a company’s multinational workforce, automatically tracking all HR-related information about employees.
The UltiPro portal is a central place for important company information. Employees can instantly access HR-related information, such as payroll information and performance reviews. And multinational employers can rest assured that their compliance and reporting obligations are addressed in more than 30 countries.