Solutions/Payroll & statutory/Multi-currency cost pack
Regional headquarters
Multi-currency cost pack
Each country was paid in local currency. Headquarters received cost and headcount by market.
Project background
Regional headquarters wanted one currency for all people cost. Each country still has to pay in local currency. FX is for the pack, not for the payment.
Payroll kept local payments and added a cost table by market, marked as a reading rate only.
Profile
- People are paid in local currency to a local account.
- Headquarters reads a converted cost. It does not change local net pay.
- Headcount and cost are shown by market, so one total cannot hide empty seats.
- A regional centre paying on behalf is not a local payroll.
Search timeline
First gate
Headcount aligned in 2 weeks
Second gate
Two-track report next month
Headcount and currencies were aligned in two weeks. The next month local pay ran as usual, and headquarters received cost by market. The FX date sat on the pack.
CVs presented
Presented
119
Landed
5
119 people in five markets. The second figure is markets.
What we took from it
Once pay and reporting were split, local net pay stopped moving with an FX meeting. Headquarters still saw cost by market.
Paying from one currency leaves the FX difference on the payslip. Take-on refused a central payment. The pack is a reading rate only.
For the next brief: pay currency is the country of work. The headquarters format is a report, not a payment instruction.