Deloitte and Awardco today announced a strategic alliance to help organizations across the globe seamlessly deliver employee rewards and recognition while also better understanding the associated employer tax obligations. Through this collaboration, Deloitte’s Global Employer Services team has initially developed a central location where Awardco customers can access key employer tax compliance obligations associated with Awardco’s recognition platform.
Awardco incentivizes behavior and builds workplace culture through value-driven recognition and rewards. The company’s solution pairs a flexible, automated, all-in-one recognition platform with a reward network that offers a wide array of redemption choices, including products through Amazon Business, hotels, tickets, gift cards, charitable donations and more.
However, management of award and recognition plans in multiple tax jurisdictions can be difficult, whether offered across multiple states or multiple countries, and the number of regulatory concerns only grows with the number of locations in which programs are offered. By providing a solution to address these tax considerations, Deloitte and Awardco will deliver real value for customers on a global scale.
“Now more than ever, employee recognition is crucial to engagement, retention and productivity across all organizations,” said Steve Sonnenberg, Awardco CEO. “But if tax compliance isn’t addressed, rewarding employees can often turn from inspiring to ineffective. We couldn’t be more excited to join with Deloitte to make the world’s largest employee reward network also the most tax compliant.”
“Delivering a customized recognition program presents unique compliance challenges for employers who may be contending with multiple global jurisdictional requirements,” said Sandy Shurin, principal, Deloitte Tax LLP. “Deloitte’s Global Employer Services team will deliver tax compliance considerations content that can be accessed through the same platform Awardco customers use to reward their talent. This will effectively take the guesswork out of tax compliance, making Awardco’s platform a more broad-based, one-stop-shop for rewards.”
Compliance content will be made available to Awardco customers via a Deloitte-developed database that can be accessed through the Awardco user’s company portal. Customers can select countries of interest, the parameters of their award program, and retrieve tax guidance that is relevant based on their selection.
For more such Updates Log on to www.hrtechcube.com