A CFO’s Viewpoint on Papaya Global Hr Advice…
Papaya Global’s platform streamlines global labor force management for business, making sure compliance with local regulations and tax laws. Their services encompass payroll processing, advantages administration, compliance oversight, time and presence tracking, and HR support. The platform centralizes global payroll operations, supplying companies with real-time insights and control. Founded in 2016, Papaya Global has actually broadened to Tel Aviv, New York City, London, and Kiev.
In the dynamic landscape of global company operations, managing payroll throughout borders can be a complex and difficult job. As the Chief Financial Officer (CFO) of a worldwide company, I understand the critical importance of efficient and compliant payroll management. In our pursuit of quality, we have actually accepted innovative solutions to improve our procedures, and one such transformative tool is Software application.
The Obstacle of Worldwide Payroll:
International expansion produces diverse challenges, and payroll management is no exception. Differing tax guidelines, varying employment laws, and several currencies make it important for organizations to embrace sophisticated solutions to ensure accuracy, compliance, and performance in payroll processing.
Software: A Comprehensive Service:
employees so it’s really essential to make sure that you’ve considered from the start any post-termination restrictions that you want to take into the agreement of work that they’re enforceable so that suggests you require to really think of what it is you’re seeking to protect and why clearly Specify what’s consisted of within the scope of that secret information and attend to the period of limitation post-determination that you wish to apply and be actually able to to validate that in relation to intellectual property the position really depends on the type of copyright you’re looking to safeguard and also the jurisdiction so for example from a copyright viewpoint in the Netherlands completion client is more likely to have the um copyright rights in a copyright that the workers produced who’s been under their guidance and control automatically however in someplace like Poland for instance that automated right may not exist which project would need to stream through the chain uh contractually so it actually depends upon the jurisdiction and the kind of IP all right thank you Elizabeth Steve was remaining on the topic of agreements Miss classified misclassifying workers
Papaya Global Software has become a game-changer in the world of worldwide payroll management. Its cloud-based platform incorporates payroll, workforce management, and employee benefits into a single, user-friendly user interface. As the CFO, I have seen firsthand the favorable effect of on our organization’s financial operations.
Unified International Payroll Processing:
allows our company to process payroll effortlessly across numerous nations. The platform’s unified technique permits consistent payroll computations, reducing mistakes and making sure compliance with regional guidelines. This has substantially alleviated the risks associated with worldwide payroll processing.
also crucial for if later on someone says misclassification you have your file supported by the requisite documents which the best evaluation tools to show somebody that you had a thoughtful process therefore what do you have to consist of in that process it’s the who the what the where and the when who are you handling are you handling an individual or are you dealing with an individual Service Corporation and how are they operating what are they doing is it the type of work that lends itself more to being an independent professional than a worker so for instance accounting
I.T engineering the creatives these all provide themselves more to that assessment of being freelancer you know likewise uh where are they doing it can they work from anywhere or do they need to be on website and handled once again another essential factor is the management and guidance of the uh worker and then finally when is it a specific task is it a six-month project 6 years all of this is manageable however it has to be recorded and it needs to be thoroughly um examined so we have a tool we call it ic2 we had an ic1 and we’ve improved it this year so that we can roll it out globally these tools take a questionnaire list for the employee the worker fills out and fills these questions out and so does the end client or the recipient of the services they both put their info into the tool and after that it does an evaluation waiting the various concerns since not every jurisdiction has the exact same feeling about some of these concerns some think they’re more important than others and it comes out with a red yellow or green red you’re most likely an employee yellow you’re on the cusp we can most likely help you with that in terms of a few of the things you need to bolster to make sure that you are considered that assessment of uh independent contractor or green where you were examined as an as a independent contractor once that examination is done all the requisite documents are below it so that if in the future there
Navigating the complexities of worldwide employment laws and tax regulations can be overwhelming. Papaya Global’s automated compliance engine keeps our organization up-to-date with changes in policies throughout jurisdictions. This ensures that our payroll procedures comply with the most recent standards, reducing the risk of non-compliance and associated charges.
network of In-House outside advisors accounting firms and legal firms who assist us keep our databases totally up to date and we also get in touch with we require to when we see an uncommon or or particularly complex scenarios alright thanks Steve I can just see a quick concern in the Q a window yes the session will be taped and sent out to participants afterwards um returning to to the webinar itself Ray company of record is controlled differently around the globe and the German law for example it’s classified as employee leasing can you shed any light on some of the unique considerations for nations and where the eor model isn’t regulated yes Ian staff member leasing or labor leasing as it’s likewise called which is prevalent in several countries especially in Europe enforces strict policies on products such as the length of assignment it likewise assigns employees to collective bargaining agreements that provides rights and benefits but even in the nations that do not have those rigorous policies for instance the UK Canada and the nordics there are policies for each nation and each worker is treated the like all the other workers because country and all those policies need to be followed fine thank you Ray um Kathy moving I would say to yourself what do business require to factor in when determining agreement status to safeguard themselves and the rights of hires what are the advantages and disadvantages of employing professionals and Freelancers versus permanent employees so certainly the the benefit of contractors versus employees is the the versatility for both the employee and for the employer um but I can’t worry enough how important it is to have a constant thorough and a well-documented compliance
Papaya Global Hr Advice and Time Savings:
The software application’s automation capabilities have actually substantially lowered the time and effort needed for payroll processing. Manual information entry and repetitive jobs have actually been minimized, permitting our finance group to concentrate on strategic efforts instead of administrative burdens. This has actually led to increased efficiency and performance within our monetary operations.
in one since each state has its own guidelines Californians are a few of the most rigorous an example is pay slips on a payslip in California the ideal details needs to be on the payslip in the best format and in the right position if you’re in breach of of regulations for payslips the fines are issued per payslip so that’s each staff member each pay slip will sustain a fine thanks Ray thank you Elizabeth a lot to fret to think about and we’re just 2 concerns in and 10 minutes or so hiring in one country is tough enough but when employing in a you know on a global level it’s an entirely various story you require to make certain that you depend on date with current along with pending regional labor laws Steve um how do you make certain and guarantee that individuals 2.0 group is on top of an ever-changing landscape and that your customers are totally supported and I’ll arrange this into 3 essential things we do in primarily you require to have the best group so we employ a group of international experts in Work Practices um that ex that team of specialists includes attorneys it includes payroll professionals it consists of HR professionals and these are individuals that not just know the laws in these in these nations and areas however they also know the languages they know the local practices they understand the cultures and it is necessary to have that ideal team and genuinely have the team on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global provides comprehensive real-time analytics and reporting tools. As a CFO, having access to accurate and timely monetary information is vital for decision-making. The platform’s reporting abilities empower me to make informed tactical choices based on real-time insights into our international payroll information.
The useful application and level of the application to employment law can be evaluated through the legal system using case law examples. For instance, the obtained rights regulation, also known as the 2p regulations in the UK, and the working time guidelines have undergone different legal analyses, especially concerning holiday pay. Furthermore, the concept of employment status has actually seen multiple legal precedents over the
Scalability for Service Development:
One of the standout functions of Papaya Global is its scalability. As our company continues to grow and broaden into new markets, the software seamlessly accommodates modifications in our workforce and payroll requirements. This scalability ensures that our payroll infrastructure can adapt to the progressing requirements of our international organization.
Worldwide Chief legal officer we’ve got Elizabeth Beal who is our chief legal officer for Amia and we have actually got Ray Look who is our senior vice president of client services and I would say individually and jointly these 3 individuals have Years of experience in in work law and global Employment Practices so thank you it’s a pleasure to be with everyone here today seems like we have actually got the right people with us today and in in addition to to those well we also have one of our own Stars erase share head of Global Solutions at papaya International inform us about yourself thank you Elin Ian hey there my name is Elite I’ve been with the business for around 4 and a half years as head of Collaborations I have actually established Papaya’s network of in-country Partners in over 160 places on an individual aspect and related to our subject today I’ve had the opportunity to relocate and work in 3 various countries it is the business’s duty to ensure my security while residing in a foreign country compliance with local laws and regulations is essential for me or anybody else as an expat or as a local so today we have welcomed our relied on Partners people 2.0 to demonstrate the value of regional
competence when companies Go Worldwide thank you and take pleasure in alright thank you as I stated let’s proceed to the pact program today’s webinar is an opportunity to ask the panel the concerns you have actually been considering we’ll discuss the facts a company requires to consider when opening a brand-new entity and broadening into brand-new countries in addition to keeping things going we’ll cover aspects such as local policies considerations when employing compliance crucial difficulties payments and what not to do it is among the most crucial things remembering what not to do um operating on a worldwide level is not for the faint-hearted the bigger a company grows the more they need to understand and handle knowing what to do in each new scenario as it increases is important on many levels comprehending local policies and regional laws along with organization practices assists reduce Associated and international expansion papaya through our local specialists can navigate prospective threats such as intellectual property defense information privacy security issues guaranteeing the business’s operations remain certified and protected tax Social Security returns and remittances differ by country
In conclusion, Papaya Global Software has actually proven to be a vital property in our mission for efficient and compliant international payroll management. As the CFO of a worldwide company, I am positive in recommending Papaya Global to organizations seeking to streamline their payroll procedures, enhance compliance, and achieve higher efficiency in managing their worldwide labor force. The software application’s ingenious features and commitment to quality align with our tactical goals, making it an integral part of our monetary operations.
I discover time and time again the workers typically misclassified unconsciously they do not comprehend the conditions of employment or contract and are informed by the customer why it’s optimum generally to the client why you must be used or participated in this style the worker might owe taxes and Social Security to the authorities the future pension and health care privileges of the employee can be impacted and a number of times it can be years before this all falls out and by that time it’s far too late years have gone by they haven’t contributed to pensions Etc so it’s a huge impact that they never knew they were strolling into you could not agree with you more if you state the UK for instance hmrc can go back as much as ten years um Kathy business are securing insurance coverage versus misclassification but typically premiums are just covering the expense of legal charges whilst the typical claim examined against employers relates to to 40 or half of the base pay of employee exists any point in securing insurance coverage and what is the alternative yeah to your point um you do require to read the fine print it is not covering the taxes penalty and interest in most cases I haven’t seen it a minimum of so uh the the other area that I do think if you managed to get the protection what we are saying is is that if your compliance program is not up to pack you could be rejected coverage on the basis of the truth that you were not in compliance with laws um in the UK
Cost Factors to consider and Papaya Global Hr Advice …
The thorough functions of come at an expense,
Over the past couple of years, the labor force has actually gone through a considerable transformation with the introduction of remote work, which has actually eliminated geographical constraints on hiring. This has actually enabled businesses to recruit talent from all over the world, allowing them to put together the very best possible team for each function. As a result, employees have actually gained higher versatility to work from home and increase their incomes without having to relocate to expensive locations or commute cross countries. According to a 2022 study, 87% of staff members who have the option to work from another location choose to do so. The COVID-19 pandemic, combined with developments in enterprise connection software, has actually further sped up the shift towards remote work, even in industries that were initially hesitant to embrace the trend.
insights are important to us and and your fellow attendees so first things first though um let’s learn more about everybody my name is Ian Charles and I have actually worked in payroll for the last 25 years I have actually had roles in all kind of Industries retail and Charm to Aerospace in all kinds of companies startup to matrixed environments around the world I supplied leadership and strategy to populations of more than 100,000 staff members on a monthly basis and in over 170 countries today I’m the perel strategist for papaya
Worldwide I work throughout the business guy maning and developing external relationships supporting Business customers and services and serving as an advisor I ‘d like to present our very first Greg um guest Greg who will kick things off by informing us um who he is and a little bit more about bamboo HR Greg over to you thanks Ian yeah as Ian stated my name is Greg Piper uh I am the senior business counsil at bambo HR so I lead our internal legal team and actually work very carefully with our um HR department also to handle different legal and HR matters that turn up so really excited to be here about bambo HR if if you’re not acquainted with us uh at bambo HR we say our objective is to set you as HR specialists complimentary to do excellent
Although Papaya Global provides combinations with numerous HR and financing systems, we came across some hurdles throughout the integration process. Tailoring the software application to line up with our existing infrastructure proved to be more complicated than prepared for, leading to hold-ups in the preliminary rollout.
The substantial features provided by Papaya Global come at an expense, which a few of our smaller subsidiaries discovered to be prohibitively expensive. As an international organization, we had to carefully weigh the requirement for innovative performance versus budget plan restraints.
Support Response Time:
On occasion, our groups experienced issues that needed urgent help. However, the action time from Papaya Global’s consumer assistance team was not constantly as timely as we would have liked, resulting in delays in solving those concerns.
Our application of included a phased method. We started by onboarding a few subsidiaries to evaluate the system’s compatibility with our existing procedures. This permitted us to determine and resolve combination challenges early on. As the software became more ingrained in our operations, we slowly broadened its use to cover our whole global workforce.
The automated features structured our payroll procedures, lowering the time spent on manual estimations and compliance tracking. Routine training sessions and continuous support from Papaya assisted our groups become proficient users of the software application, maximizing its capacity for our company.
Companies that employee workers throughout numerous countries frequently deal with detailed obstacles when it comes to managing their labor force. One of the most significant obstacles is combining various information streams and adhering to diverse regional and national labor regulations, which can be both lengthy and expensive. Moreover, setting up regional entities in brand-new areas can be a pricey and suboptimal alternative, with options such as opening a foreign subsidiary or employing a professional work organization (PEO) typically charging up to 15% of the payroll. These challenges have caused a substantial boost in problem hiring certified personnel, with 75% of employers reporting this concern in 2022, a 21% boost from 2019. The payroll and HR services market, valued at $26.4 billion in 2022, is anticipated to reach $50.4 billion by 2030.
uses a service supporting all types of work. It supplies an end-to-end platform, from staff member onboarding and continuous management to international payments and. It helps companies with labor law compliance in the jurisdictions in which they run, offers management of work advantages, and ensures data personal privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. An entrepreneur with 15 years of experience, she is a leading specialist in payroll and labor force management. She co-founded after seeing the technology space in global.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please be sure to attend the total webcast in order to get your credits if you have any questions throughout the webcast please click on the Q&A tab in your webinar controls and type the there a brand-new tab will open in your internet browser with the webcast survey please be sure to complete it as quickly as the webcast has actually ended it is now my pleasure to turn it over to Pap and bamboo HR for their discussion hello and thank you for joining us today we’re enjoyed have you here as we start a journey of information to policy attaining
360 degree staff member compliance where we’ll dive into the important elements of the staff member compliance management model throughout the session we’ll explore real world obstacles real regional guidelines finest practices and the function of Automotion in simplying compliance journey be prepared to emerge in an extensive understanding of how to secure your company and employees while staying certified in an
Ever developing regulatory environment in the everchanging world of company and financing ensuring compliance with payroll policies is not only important however likewise a legal vital from the minute of working with to the in intri complexities even sorry of termination every step along the employee journey is Frau with compliance dangers that have far-reaching effects nevertheless with a much deeper more nuanced understanding of their obligations companies can not only navigate the elaborate landscape but likewise proactively guarantee this 360 degree compliance the webinar is created to equip you with the understanding and tools needed to browse the complex Terrain of compliance whether you’re an experienced P expert a small business owner or someone new to the field what I would like to do before we start and I believe it’s truly essential
In our mission to improve efficiency and precision in managing our international labor force, our multinational corporation turned to, a leading and workforce management software application. The transition aimed to simplify the complex task of handling throughout various nations, currencies, and compliance regulations.
One of the standout functions of is its robust compliance management system. The software instantly updates itself to stick to ever-evolving tax and labor laws throughout numerous jurisdictions. This has been indispensable in ensuring that our procedures remain certified in each country of operation.
is to state that the content here is illegal guidance it is just for your info please consult your legal team needs to you have any questions or concerns in relation to anything that we’ve talked about today our secret take essential takeaways by the end of the webinar will be an understanding of worker compliance risks how to hire ly with self-confidence how to streamline data management and automation so let’s take ourselves a moment to familiarize ourselves with the webinar platform once again as we have actually.
work as your hris or is kind of your core employee record um to handle that staff member life process throughout their Journey with you as as a staff member in addition to a payroll module we need to assist you pay those workers and compensate them and advantages Administration module that allows you to help handle the advantages you supply to your workers so really delighted to be here represent um bamb booy container and talk about this topic um and I guess from my point of view I’ll I’ll probably supply a lot of a concentrate on the United States side of things when we discuss kind of compliance so pleased to be here thanks for having me Ian fine thanks Greg um Gina over to you would you like to introduce yourself and inform the audience a little bit about papay international yes absolutely thank you Ian hi everyone I’m Gina dorelis I’m the Work specialist supervisor.
at I manage the employment Council in the US APAC EMA and Israel area I also work as us Council for I’m accredited in New York and New Jersey um we ensure compliance onboarding and offboarding of employees with regard to papaya we supply payroll payments and workforce management as a Service labor force service provider to workers serving in over.
160 countries all right thank you so both I feel entirely underqualified sitting here with you both well I forgot to discuss as we were kind of like going through the introduction so it’s truly really great to actually see in the webinar chat where everybody’s really going to from today I can see that we have people in Las Vegas and Indiana currently so if you want to continue inform where you are that would be absolutely wonderful whilst we just wait on everybody else to kind of like participate in there we go Chicago as well well um so whil we’re doing that I’m waiting on everybody to type of join I’ll just run us through the program um today we are going to go over working with Skill new greater Details Management termination compliance and automation wow the chat has actually got really truly busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from definitely everywhere which is wonderful so uh I’m hoping that we’re in fact going to have some really great commentary and concerns throughout the uh the webinar too alright so that’s the agenda then what I want to Now cover is the the compliance and the Personal privacy side of things so the the Journey of a worker and their information is Papaya Global Hr Advice complex without fail and an.
Ever progressing relationship that starts the minute a person signs up with an organization it continues throughout their employment and Beyond this journey can be divided into k to numerous key stages whilst we’re in fact you understand that they’re utilized with us so on boarding daily operations settlement and benefits professional development then we get to the offboarding and even advocacy so it even takes place after the employee has actually left your work throughout the journey organizations are responsible for gathering keeping safeguarding employee information in compliance with data privacy regulations no matter where it is you’re operating worldwide it often includes implementing safe information management systems and making sure stringent adherence to regional requirements to protect both the worker and the company the evolution of staff member data and management c.