Global Mobility & International Recruitment
The pandemic did however bring this model to a significant standstill, as many employees relocated back home during Covid or found themselves looking for new roles as global economies were weakened and businesses folded.
The required adaptation due to the pandemic has given birth to much greater location flexibility making the opportunity to work for businesses in different countries more realistic and common than ever before.
This has led many businesses to develop global mobility strategies for the first time as employees crossing borders becomes the new norm. This enhanced opportunity for staff and businesses brings with it its own headaches for HR, law, and finance teams globally.
One particular element of this is international payroll, which can be complex, particularly when factoring in regulations and taxes in different territories and ever-moving exchange rates. The benefits are of course access to a larger talent pool, the ability to execute long-term projects in other countries, but the true costs of global mobility can be difficult to account for.
Automate payments to save time and money
Many businesses continue to set up individual payments online through their bank, however, this is a very manual and time-consuming process and leads to more failed payments as a result of human error.
This manual payment process often leads to businesses buying the currency they need when all of the payments have been approved and are ready to be sent, resulting in settling for the best exchange rates at that given time.
Through the use of mass payment automation tools companies can save both time and money when managing international payrolls as part of increasing global mobility and recruitment.
Currency UK not only supports businesses with mass international payment solutions but also offers partnership opportunities which can be particularly lucrative to businesses with an international workforce.
To find out more about working with Currency UK you can speak to Head of Partnerships, Katie Keith at firstname.lastname@example.org, or speak to another member of the team by calling +44 (0) 20 7738 0777.