Compliance - Are You in Control?
Compliance has never been higher on the agenda of everyone involved in international relocation management. We are talking here about a variety of areas of regulation, where non-compliance can mean severe financial penalties, damage to reputation and even losing the ability to conduct business in some countries.
Tax, social security and immigration are the most obvious compliance challenges, but non-compliance can also arise in areas such as Data Protection and in relation to new legislation such as the Bribery Act. Without doubt, the key to guaranteeing compliance is the combination of well-designed processes (which are regularly reviewed) and robust IT systems. Tracking of critical dates and other key data should be an automatic function of relocation management systems.
It’s also important to review the overall flow of data between employer/employee and external service providers, including relocation management company, tax adviser and immigration adviser. While the key objective is to ensure that all relevant data is captured, it is also important to look at how data can be shared efficiently, minimising re-keying and multiple requests for data.
Team Relocations has worked with several clients on redesigning processes to achieve compliance and efficiency.
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