Benefits packages now extend far beyond the traditional pay, pension and company car deal and the latest generation of employees is expecting much more in terms of development and wellness initiatives. Offering benefits to employee is excellent but how can this be done in an effective manner.
Grant Thornton’s Employer Solutions team offers a benefits package advisory service to develop tailored solutions for client needs. Multinational companies often wish to replicate what they give to employees in the US here in Ireland including options like membership, health insurance, personal and professional development benefits and so on. There will be tax implications to deal with and, in some cases, particular options may not exist in Ireland and alternatives will have to be developed.
A key service offering is outsourced payroll management including payment processing and Revenue filings for clients of all sizes from small SMEs right the way up to multinationals employing thousands of people. Clients for this service also include multinationals establishing in Ireland who require external support for key business functions during their start-up and growth phases.
The efficient payroll processing is one of those aspects of a company’s operations which is taken as a given and not really appreciated until something goes wrong. Employees expect to be paid on time, to receive their payslips into their hands or their inboxes when they expect them, and to be notified of benefit entitlements and changes in a timely fashion. Failure to meet these expectations can lead to a loss of trust and morale within an organisation.
Another important aspect of the service is the provision of global mobility solutions. Multinational companies in Ireland have employees moving in and out of the jurisdiction quite frequently and this has natural tax implications both for the corporations and the individuals involved. We leverage the tax expertise of the global Grant Thornton network of offices to minimise the tax impacts and optimise the remuneration arrangements, while dealing with SARP and other issues here in Ireland.
The Employer Solutions team is based in our offices throughout the island of Ireland is made up of IPAT and AITI professionals. The team takes a partnership approach to working with clients in order to understand their particular and discrete needs as well as those of their employees. This approach enables the team to deliver a range of bespoke solutions designed precisely to meet client requirements.