Compensation and Payroll Administration
Take the Complexity Out of Compensation & Payroll
Make compensation and payroll administration simple and make sure your employees get paid—whether you have hundreds or just a handful of international employees. We have the global knowledge backed by local expertise to keep your relocations compensation compliant, using flexible solutions tailored to your requirements.
Detailed Cost Estimates
Once a cost estimate is approved, the cost elements are tracked in our system as the budget for that assignment. All payments made by SIRVA will be tracked against that original estimate. Payments made by other sources can also be captured and tracked for reporting purposes.
Balance Sheet Preparation
Balance sheets created in our system are configured to meet your requirements. As part of the implementation process, policy details and calculations are configured within our compensation system so that when cost estimates and assignment balance sheets are created for individuals, the system can calculate the compensation elements based on the policy tied to the assignment.
Assignment Letter Preparation
SIRVA produces a comprehensive Letter of Assignment (LOA) outlining all employee benefits while on assignment. After employee sign off, we present the LOA to your candidate and/or HR representative, answer any queries and obtain the candidate’s signature on your behalf.
Tax Equalisation Administration
SIRVA works closely with your tax provider/partner, to provide them with detailed compensation information so they can determine taxability and tax equalisation amounts. Once the original hypothetical taxes are calculated, we monitor income levels and re-engage with your tax firms, when appropriate, for any adjustments to be made. For one-time payments, if you prefer, we can establish a marginal tax rate per relocating employee and instruct your local payroll teams regarding the marginal tax rate amount to be collected from these payments in our pay instruction file. Additionally, SIRVA can collect/pay, track and report on tax equalisation payments on our clients’ behalf.
SIRVA’s global compensation collection process is comprehensive and our system is fully configurable to meet your needs at both a corporate and local level. Our process is not “one size fits all;” we work with each local team and your tax provider to develop agreed-upon reporting formats and schedules. Efficiency is gained by utilising our Payroll Portal technology to effectively gather and disseminate collected data.
Certificates of Coverage
SIRVA applies for a Certificate of Coverage for your US outbound employee for countries covered under a totalisation agreement and notifies your payroll teams upon approval. We monitor receipt of the certificate and when renewal is required. For other countries requiring Certificates of Coverage, SIRVA coordinates with your tax provider so that full global reporting on certificates are kept in our systems.
Payroll Instructions & Delivery
SIRVA’s Compensation Team provides per-pay-period payment instructions directly to your local payroll providers/teams, including any split-pay and shadow payroll arrangements, on time within your local deadlines. Pay instructions reflect local payroll codes and local currency to reduce the risk of misinterpretation by local teams.
As part of the payroll reconciliation process, SIRVA works with your payroll providers each pay period to collect local gross-to-net payroll delivery. We then validate all instructions were enacted accurately.
When shadow payrolls are required, SIRVA establishes both an “active” (paying) payroll system and a “shadow” (non-paying) payroll system. Once payroll results are collected from the active payroll entity and uploaded to our compensation module, we run a shadow payroll report, converting appropriate items and amounts to the applicable local shadow payroll currency values.
SIRVA’s Compensation & Payroll Difference
The biggest advantage SIRVA’s compensation and payroll administration service provides is that we take a complicated process and make it simple. This leads directly to additional benefits, including:
- Reduced administrative workload
- A dedicated team experienced in policies and practices
- Programme compliance
- Data integrity
- Customised consultation