New from Deel: Despite Surge in Global Hiring, Payroll Systems Struggle to Keep Up

HR and payroll decision-makers around the world are struggling to manage their increasingly distributed workforces due to payroll providers’ shortcomings. Get a closer look at the data—and solutions—with this peek into a commissioned study conducted by Forrester Consulting on behalf of Deel (January 2024).

While global hiring rates have accelerated in recent years, HR and payroll leaders are still being held back by disparate payroll systems.

In a commissioned study conducted by Forrester Consulting on behalf of Deel (January 2024), over 300 HR and payroll executives said they struggled with their payroll providers’ ability to manage an increasingly distributed organization.

The main payroll issues cited were:

• Payroll delays and errors (48%)
• High, often hidden, costs to employers (47%)
• Limited reporting and analysis of data (42%)
• Slower operational agility (41%)
• Compliance problems (40%)
  

The ripple effects of decentralized payroll

On average, leaders stated they use six different tools to manage their global payroll. About half (46%) said payroll errors are affecting the consistency of their teams’ work experiences across geographies and 40% found it affected their ability to retain top talent.

So, what’s keeping payroll leaders from addressing these challenges? 52% cited the time and effort required to adopt another system. 51% said there are limited options for global payroll providers, and 46% pointed to an overly complex payroll ecosystem.

What HR leaders want

High on HR executives’ wishlists was improved accuracy and customer support from payroll vendors. An overwhelming majority of payroll leaders (97%) said an all-in-one payroll solution would be valuable and/or extremely valuable to addressing their issues, with 88% agreeing that an all-in-one solution would have a positive impact on their global hiring rates.

The takeaway

If you have an increasingly distributed workforce, consider streamlining your payroll system into one, consolidated view.

Platforms like Deel can offer global payroll solutions for any worker type—contractor, EOR employee, or direct employee—with fewer payroll errors, delays, and reporting limitations. Plus, you get access to Deel’s in-house compliance and legal team in over 120 countries, with 24/7 live customer support.

Learn more at deel.com/paid-lp/global-payroll.

Deel is the all-in-one HR platform for global teams. It helps companies simplify every aspect of managing an international workforce, from culture and onboarding, to local payroll and compliance. Deel works for independent contractors and full-time employees in more than 150 countries, compliantly. And getting set up takes just a few minutes. For more information, visit Deel.com.