KPMG's 2020 Practices Report
Our platforms are built on the practices advocated by KPMG, PwC, EY, Baker Mckenzie, and others. Let's take a look at a Big Four report on practices in global mobility.
You may know from our story that Worldly was designed by folks with backgrounds at Big Four accounting firms, advising clients on global mobility and international taxation. KPMG is of course one such firm. Their 2020 survey offers great insights into global talent practices at some leading MNC global mobility departments.
The report is based on a survey of 350 global mobility professionals across 25 countries and all major industries. Each firm has at least 1,000 employees, and the median number of assignees appears to be around 50, although about 20% of the firms have over 500 assignees at any given time.
The report is for assignment-based talent deployment. International hiring is not included.
KPMG: 2020 Global Assignment Policies & Practices Report
MNC Best Practices on Worldly
There's a clean mapping between these most-common MNC practices and functions built into Worldly's platforms. Let's highlight the most important ones.
Tax Equalization. Your employees receive the same effective tax treatment domestically or abroad; you pocket the difference when it's a lower tax region. This is handled automatically on our payroll platform.
Employee Benefits. Your global talent receives equivalent or typically increased benefits over domestic employees. The benefits typical to assignees are laid out and managed through policy documents. Employees can review and manage benefits in the employee portal.
Organizational Continuity. No employment termination or re-hiring is required at any time, and assignees generally stay on home social. We use EOR, GEC, and secondment practices so the relation between your organization and your global talent doesn't change. For home social we help procure certificates of coverage.
Cost Tracking. Cost targets are created through policy documents. The platform gives financial snapshots, including costs per employee, team or policy; exceptions; and expected tax credits and deductions.
Central Keeping. This makes compensation collection a non issue. Central keeping of all payroll and HR data, segmented by teams and policies. Data anonymization and safeguards in place.
Mobility Options. We procure appropriate visas through our entity network. Expedited and preferred options are available for skilled talent and executives in certain destinations. Long term clients have access to ICT mobility.
Risk Mitigation. Avoid double or excess taxation and assess Permanent Establishment risk. Optionally eliminate all risk and elect to manage a PE.
The Worldly Team
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