Shadow Payroll Survey results
Global mobility now operates further, faster and more fluidly than ever before. Business is done without boundaries, with individuals undertaking assignments all over the world. This presents significant challenges for human resources and finance departments charged with managing this process, as both accounts and activity must be compliant, accurate and up-to-date.
Employee taxes are a major part of this remit and make up around a third of total employment costs. If not calculated correctly the ‘shadow payroll’ can expose an organisation to the risk of lost revenue, unnecessary extra costs, financial penalties, compliance issues and ultimately, reputational damage.
In our second white paper we present the findings of our first shadow payroll survey, to help you identify the challenges involved in managing international employment tax liabilities. We asked 1000 senior international finance, HR and global mobility leaders what the implications of managing shadow payroll are for their organisations in order to understand the latest thinking and to avoid the pitfalls of getting it wrong.
Key findings from the survey:
?70% of international assignments require shadow payroll
?Almost everyone is aware of shadow payroll, but their understanding of it differs
?Shadow payroll management is inconsistent, and sometimes invisible
?There is a lack of confidence in the process
?Global businesses are losing money unnecessarily
About Certino
Certino is a revolutionary new way of automating and managing shadow payroll and rebilling that enables large organisations to make huge annual cost savings. Certino enables companies to replace their current slow, manual processes and ensures they pay the right amount of tax in the right place at the right time using ISO, SOC and GDPR data security standards.