Payroll Outsourcing Services
In today’s economic globalization environment, it is very common for companies to have employees in China, Hong Kong, Taiwan and Macau, and it is also common for foreign companies to hire employees in these regions. There are indeed some inconveniences related to laws and regulations when operating in multiple countries. This makes processing compensation complicated, time-consuming, error-prone, costly, and may expose you to non-compliance risks. Many companies find that outsourcing compensation management is more cost-effective, more efficient, more accurate, and less risky.
The problems faced by multinational companies and foreign companies wishing to enter the Chinese market in internal management of compensation
Compensation policies in different regions of Greater China are not only different, but also extremely complex in each region. It’s not just these potential problems-the flow effect will also make the problem more complicated.
China’s policies vary from industry to industry in China, making these policies very complex and difficult to understand, especially for foreign companies. This requires foreign entities to have a very deep understanding of China’s commercial law.
Surprisingly, China, Hong Kong, Taiwan and Macau all have different policies. To make matters more complicated, China’s policies may be different in every province.
The flow effect of these complexity makes managing compensation takes a lot of time and is more error-prone. The extra time consumes more resources, thereby increasing costs, and the increased errors will affect employee morale, thereby reducing productivity. In addition, the risk of non-compliance will also increase.
Advantages of outsourcing compensation
Does your company employ employees in China, Hong Kong, Taiwan and Macau?
Are you a foreign company looking to hire employees in China, Hong Kong, Taiwan or Macau?
Letting Galaxy Payroll manage your compensation will save you valuable time because this is our core business. This is our job, and we are experts in this area.
Not only do we operate and be responsible for the compensation business in Greater China, we also have a large, well-trained and experienced team. If you handle compensation internally, you may face the risk of related work lag when the relevant employee asks for leave or resigns, and you must retrain new employees. Our scale and expertise can prevent any work lag.
If you process compensation internally and make a non-compliance error (which can easily go wrong), then you may face fines, you may lose staff, and then you have to correct the non-compliance error, which is itself A cost. Non-compliance errors are very expensive. Galaxy Payroll can eliminate this risk.
Galaxy Payroll can complete work faster, reduce errors, and ensure compliance. All our customers have told us that after they outsourced their wages to us, they all saved costs.
Focus on core business
The core business of Galaxy Payroll is outsourcing compensation. We are experts in this area. Your core business is other areas where you are good at. Focus on your area as an expert and let Galaxy Payroll handle the work you are not good at.
Which countries does Galaxy Payroll’s services cover?
Galaxy Payroll is a recognized leader in managed compensation services in China, Hong Kong, Taiwan and Macau. We help foreign companies from more than 100 countries around the world manage compensation.
How Galaxy Payroll can help
With an experienced team, we can show you how to reduce your risk and costs with regards to payroll compliance, while at the same time allow you to concentrate on your core business. Get in touch and we’ll show you how.