Belgium comes 3rd among the countries with the highest average hourly cost for work. This clearly impacts on the competitiveness of our companies but, in the end, from a more microeconomic viewpoint, on their individual cost-effectiveness. Which is one of the main problems hindering Human Resources Managers in Belgium today. In evidence, the three main forces to which they are subjected:
- Payroll costs optimization: keeping work costs at an acceptable level for the cost-effectiveness of the company;
- War for talents: attracting talent and keeping it, for instance through competitive salary packages;
- Payroll compliance: securing the continued existence of the company through legal compliance of the payroll.
In this context the HRMs, with their Payroll and Comp & Ben teams, may contribute towards the improvement of the business performance of their companies by acting on:
- The reduction of risks of non-compliance and the impact of possible NSS and tax inspections;
- The optimization and securement of the payroll costs of their companies by using to their full potential the incentives on payroll and tax charges (Target Group Reductions, exemption from payment of withholding tax on wages, …);
- The contribution of new financial resources dedicated to future reorganization projects and to company trainings, the federal and regional subsidies (support zones, training for reorganization, …);
- The introduction of alternative reward levers, such as, for example, remuneration linked with copyright.
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