Multi-country payroll outsourcing, otherwise known as MCPO allows businesses that operate in more than one country/currency to handle all their payroll and offer best local practices through a single provider.
MCPO can allow parallel comparison of payroll cost between countries through standardisation. For instance, a company can adopt a common definition of payroll cost i.e., Allowance A, B and C to make effective comparison of cost performance for companies that operates across multiple countries. A sophisticated MCPO software is a must-have for any business or enterprise that operates in multiple countries.
Secondly, payroll regulation in emerging countries can often change leaving internal HR teams stranded with insufficient knowledge and expertise to execute change with their employees. Hence, companies can gain insights and knowledge of local practices by leveraging an MCPO provider who has an in-depth knowledge of changing local regulations.