The COVID-19 pandemic led to a significant shift in the payroll landscape. With the rise of remote, freelance, and gig workers, technological advances have enabled companies to eliminate borders and employ workers from all over the globe.
A flexible global workforce is now critical to a company’s success, but how can payroll professionals successfully stay compliant and navigate the challenges of managing an international workforce?
PayrollOrg’s latest webinar, “Employer of Record to Payroll, and Back: Keys to Resilient Global Workforce Strategy,” sponsored by Papaya Global, addresses this question and more.
Gina Dorcelus, Director of Global Employment & Legal Counsel, and Angie Carrier, Global Payroll Expert Team Leader, Americas at Papaya Global, shared their thoughts on why a flexible workforce strategy is critical, what these capabilities require, and the real-life gains many global companies can make from implementing such strategies.
“The world is changing; it will continue to change, and companies must change with it,” Dorcelus said. “The landscape of what it means to be a worker has forever changed and I say for the better.”
Components of a Flexible Global Workforce Strategy
Throughout the webinar, Dorcelus and Carrier discuss in detail the three key components of a flexible global workforce strategy:
- Transitioning across different employment models. How does the ability to transition from an employer of record (EOR) to payroll and back again benefit your organization and employees?
- Addressing unique workforce scenarios. Which employment model is right for your organization?
- Maintaining 100% compliance. How confident are you in your organization’s ability to navigate global compliance amidst ever-changing laws, regulations, and cultural nuances?
“If you have these three tools, it will definitely provide your company with a competitive edge in today’s society,” Dorcelus explained.
Benefits of a Flexible Global Workforce Strategy
In their “The Future of Jobs Report 2023,” the World Economic Forum showed that 59.7% of organizations identified skill gaps in the local market as a key barrier to preventing industry transformation. Additionally, according to MarketResearch.com, the global EOR services market size is projected to reach $6.6 billion by 2028, a rise from $4.2 billion in 2021.
“These numbers are reflective of the growing needs of companies in the post-pandemic world and with the advance of remote workers,” Dorcelus said, “Long gone are the days of when your supervisor and peers and colleagues would sit next to you in a cubicle and so we see the ever-increasing need and desire for EOR services, and I think is only going to rise even further.”
Ultimately, the success of an organization is contingent upon its ability to hire and retain the best people with ease, no matter where they are. Organizations that can navigate the global workforce with flexibility will have the competitive edge and will drive innovation and growth in their industries.
“Happy employees means that you’re going to get the best and the best are going to stay with you. It’s a very exciting time to see all the options that we have” Carrier concluded.
Register today for the free on-demand webinar, accessible until 31 March 2025.