Many of us are personally experiencing the significant economic impact of COVID-19, whether it be through our businesses and reduced demand for services or as an employee or contractor whose hours have been cut altogether.
With 13 global locations, Easy Payroll Global is no stranger to managing remote workers. Our services have long been helping businesses looking to grow and expand nationally or internationally through direct staffing solutions and outsourced payroll, while our HR technology Expedo supports them on their journey.
What set us on our own business expansion path beyond outsourced payroll was a desire to bring more transparency and agility to today’s modern working world. What do you need to consider revising or enhancing in order for your business to come out the other side of COVID-19?
COVID-19 is poised to cause irreversible shifts not only in the ways that we work, but in the skills that employers need in the current environment. Therefore, staffing models are now on the radar as businesses must realistically consider whether they have the best workforce structure in place based on this shifting economic climate.
Where are the cost-saving opportunities going forward and how can you facilitate true global mobility when its needed? As businesses continue to feel the effects of the economic downturn, ensuring your workforce is structured appropriately will be key to business survival. This includes the engagement of more outsourced contractors, freelance staff and consultants. Time will tell if the employment of salaried employees will become redundant in itself.
Contracting has become a preferred employment arrangement due to its flexible nature and many contracts can be relatively short, allowing one to ‘test the waters’ with a worker. Businesses require agility to innovate and now is the time to assess what your business will look like in the next six months, where labour will be your biggest cost.
A survey conducted in 2019 by the International Workplace Group found over half of employees globally are working outside their main office headquarters for at least 2.5 days a week. Following COVID-19, remote working will be the new norm.
Creating a business environment and culture that is conducive to flexible working is more important than ever. This includes technology that empowers your workforce to successfully operate remotely and maintain efficiency; technology that connects us rather than isolates us.
Let’s use Anna, one of our awesome payroll managers based in China, as an example. She returned to Italy, her home country, for holidays before the pandemic really took hold and is now quarantined in Spain.
None of these three countries have proven to be a safe refuge, however, she’s been able to create better efficiencies for our clients with the integration of our HCM technology Expedo to onboard new workers completely online and introduce timesheets for both worker accountability and accurate payroll processing.
A business’s most important software integration has always been with payroll because it’s your source of truth for compliant workforce operations. At the very least, businesses need to consider implementing similar HR solutions and technology that are complementary to creating flexible workspaces, can be speedily deployed and won’t break the budget.
Easy Payroll Global helps businesses evaluate their workforce structure and HR management processes, identifying where cost-savings can be made along with better efficiencies. Get in touch with us if you’d like to discuss how your business is sitting in today’s current work climate.