It is commonly acknowledged that the Covid-19 pandemic has exacerbated inequality in the world. This is true for both businesses and individuals. On the business side, large corporates seem to flourish as massive consolidation occurs because small businesses close down. Similarly, many millions of people have lost their jobs due to the Covid-19 pandemic but it could be argued that job losses have not been proportionate across all levels i.e. from low paid jobs to executive positions.
This reality of an ever-increasing gap between the have’s and the have-not’s should increase the sensitivity around executive pay. This increased sensitivity should in turn lead to more executive payrolls being outsourced to external Payroll Outsourcing service providers. Executive Payrolls enjoy the highest level of confidentiality when outsourced to an external Payroll Outsource service provider because it limits the number of people who have access to the payroll to the absolute minimum.
It will be interesting to see if this is indeed the trend. Watch this space. In the meantime, if you consider outsourcing your executive payroll, feel free to contact us at www.dnaoutsourcing.com
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