A CFO’s Viewpoint on Maternity Pay Papaya Global…
Papaya Global’s platform enhances worldwide workforce management for business, ensuring compliance with local guidelines and tax laws. Their services incorporate payroll processing, advantages administration, compliance oversight, time and participation tracking, and HR assistance. The platform centralizes worldwide payroll operations, offering organizations with real-time insights and control. Founded in 2016, Papaya Global has actually broadened to Tel Aviv, New York, London, and Kiev.
In the dynamic landscape of worldwide company operations, managing payroll throughout borders can be a complex and tough job. As the Chief Financial Officer (CFO) of an international business, I understand the vital value of effective and certified payroll management. In our pursuit of excellence, we have actually accepted innovative services to enhance our procedures, and one such transformative tool is Software.
The Challenge of Worldwide Payroll:
Worldwide growth produces varied obstacles, and payroll management is no exception. Differing tax regulations, varying work laws, and several currencies make it important for companies to embrace advanced solutions to make sure precision, compliance, and efficiency in payroll processing.
Software: A Comprehensive Solution:
staff members so it’s really fundamental to ensure that you’ve considered from the beginning any post-termination limitations that you wish to put into the agreement of work that they’re enforceable so that means you need to truly think of what it is you’re looking to secure and why clearly Specify what’s consisted of within the scope of that confidential information and resolve the period of constraint post-determination that you wish to use and be truly able to to validate that in relation to intellectual property the position really depends upon the type of intellectual property you’re seeking to safeguard and also the jurisdiction so for example from a copyright perspective in the Netherlands completion customer 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 example that automatic right might not exist which project would need to stream through the chain uh contractually so it really depends upon the jurisdiction and the type of IP fine thank you Elizabeth Steve was staying on the topic of contracts Miss classified misclassifying workers
Papaya Global Software application has become a game-changer in the world of global payroll management. Its cloud-based platform incorporates payroll, workforce management, and employee benefits into a single, easy to use user interface. As the CFO, I have actually witnessed firsthand the favorable impact of on our organization’s financial operations.
Unified Global Payroll Processing:
allows our business to procedure payroll seamlessly across numerous countries. The platform’s unified method permits constant payroll estimations, reducing errors and guaranteeing compliance with local guidelines. This has actually substantially mitigated the dangers connected with international payroll processing.
also key for if later somebody says misclassification you have your file supported by the requisite files and that the best evaluation tools to show somebody that you had a thoughtful process and so what do you have to consist of in that process it’s the who the what the where and the when who are you dealing with are you dealing with an individual or are you handling an individual Service Corporation and how are they operating what are they doing is it the type of work that provides itself more to being an independent professional than a staff member so for example accounting
I.T crafting the creatives these all lend 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 have to be on website and managed again another crucial element is the management and guidance of the uh worker and after that lastly when is it a particular project is it a six-month project 6 years all of this is manageable but it needs to be documented and it needs to be thoroughly um investigated so we have a tool we call it ic2 we had an ic1 and we have actually improved it this year so that we can roll it out globally these tools take a survey list for the worker the employee fills out and fills these questions out therefore does completion client or the recipient of the services they both put their information into the tool and after that it does an evaluation waiting the different questions because not every jurisdiction has the same feeling about a few of these concerns some think they’re more important than others and it brings out a red yellow or green red you’re most likely a worker yellow you’re on the cusp we can most likely help you with that in regards to some of the important things you require to strengthen to ensure that you are given that assessment of uh independent contractor or green where you were assessed as an as a independent professional once that examination is done all the requisite documents are underneath it so that if in the future there
Navigating the complexities of global work laws and tax policies can be overwhelming. Papaya Global’s automated compliance engine keeps our company updated with modifications in policies across jurisdictions. This ensures that our payroll processes adhere to the current standards, reducing the danger of non-compliance and associated charges.
network of In-House outside consultants accounting companies and legal firms who help us keep our databases completely up to date and we likewise contact we need to when we see an uncommon or or particularly complicated circumstances all right thanks Steve I can just see a quick question in the Q a window yes the session will be taped and sent out to guests afterwards um returning to to the webinar itself Ray employer of record is regulated in a different way around the world and the German law for example it’s classed as worker leasing can you shed any light on some of the special considerations for countries and where the eor design isn’t controlled yes Ian employee leasing or labor leasing as it’s also called which is prevalent in a number of countries especially in Europe enforces stringent guidelines on products such as the length of project it also designates employees to collective bargaining agreements that provides rights and benefits but even in the countries that do not have those rigorous policies for example the UK Canada and the nordics there are policies for each country and each employee is treated the same as all the other employees because nation and all those guidelines need to be followed okay thank you Ray um Kathy moving I would state to yourself what do business require to factor in when determining agreement status to protect themselves and the rights of hires what are the pros and cons of hiring professionals and Freelancers versus permanent employees so undoubtedly the the advantage of specialists versus workers is the the flexibility for both the employee and for the employer um however I can’t stress enough how crucial it is to have a constant thorough and a well-documented compliance
Maternity Pay Papaya Global and Time Cost Savings:
The software’s automation abilities have actually considerably reduced the time and effort required for payroll processing. Handbook data entry and recurring jobs have been decreased, permitting our financing team to concentrate on tactical efforts rather than administrative burdens. This has led to increased effectiveness and productivity within our financial operations.
in one given that each state has its own regulations Californians are some of the most stringent an example is pay slips on a payslip in California the ideal info has to be on the payslip in the right format and in the right position if you’re in breach of of policies for payslips the fines are provided per payslip so that’s each staff member each pay slip will incur a fine thanks Ray thank you Elizabeth a lot to worry to consider and we’re just 2 questions in and 10 minutes or so employing in one country is hard enough but when working with in a you know on an international level it’s a completely different story you need to ensure that you depend on date with current along with pending regional labor laws Steve um how do you make certain and ensure that the people 2.0 group is on top of an ever-changing landscape and that your customers are totally supported and I’ll arrange this into three key things we do in firstly you require to have the ideal team so we work with a team of worldwide experts in Employment Practices um that ex that team of specialists includes lawyers it consists of payroll professionals it includes HR specialists and these are people that not just know the laws in these in these countries and regions however they also understand the languages they understand the regional practices they know the cultures and it is necessary to have that right group and genuinely have the team on the ground uh working with cl
Real-time Analytics and Reporting:
Papaya Global supplies extensive real-time analytics and reporting tools. As a CFO, having access to accurate and prompt monetary data is important for decision-making. The platform’s reporting abilities empower me to make educated tactical choices based upon real-time insights into our global payroll data.
The useful application and degree of the application to work law can be assessed through the legal system utilizing case law examples. For example, the acquired rights regulation, likewise known as the 2p policies in the UK, and the working time guidelines have undergone numerous legal analyses, especially regarding holiday pay. Additionally, the idea of work status has seen several legal precedents over the
Scalability for Business Growth:
Among the standout features of Papaya Global is its scalability. As our company continues to grow and broaden into brand-new markets, the software application effortlessly accommodates modifications in our labor force and payroll requirements. This scalability ensures that our payroll infrastructure can adapt to the progressing needs of our global company.
Worldwide Chief legal officer we’ve got Elizabeth Beal who is our primary legal officer for Amia and we have actually got Ray Look who is our senior vice president of customer service and I would state individually and jointly these three people have Decades of experience in in work law and global Employment Practices so thank you it’s a satisfaction to be with everyone here today seems like we’ve 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 four and a half years as head of Partnerships I have developed Papaya’s network of in-country Partners in over 160 locations on a personal aspect and related to our subject today I’ve had the chance to transfer and operate in three various countries it is the company’s duty to guarantee my defense while living in a foreign country compliance with regional laws and policies is essential for me or anyone else as an expat or as a local so today we have actually welcomed our trusted Partners people 2.0 to demonstrate the importance of regional
competence when companies Go Worldwide thank you and take pleasure in alright thank you as I said let’s move on to the pact program today’s webinar is a chance to ask the panel the questions you have actually been thinking about we’ll go over the realities a company needs to consider when opening a brand-new entity and expanding into brand-new nations as well as keeping things going we’ll cover aspects such as regional regulations considerations when employing compliance essential difficulties payments and what not to do it is among the most crucial things remembering what not to do um operating on an international level is not for the faint-hearted the bigger a business grows the more they require to comprehend and manage understanding what to do in each brand-new situation as it rises is necessary on lots of levels understanding local regulations and local laws in addition to organization practices assists reduce Associated and international expansion papaya through our local specialists can browse prospective dangers such as intellectual property protection data privacy security issues guaranteeing the company’s operations stay certified and secure tax Social Security returns and remittances differ by country
In conclusion, Papaya Global Software has proven to be a vital asset in our quest for efficient and compliant international payroll management. As the CFO of an international business, I am confident in advising Papaya Global to companies seeking to improve their payroll procedures, improve compliance, and achieve greater effectiveness in handling their worldwide labor force. The software’s innovative functions and dedication to excellence line up with our strategic goals, making it an important part of our financial operations.
publicly revealed and it was 100 million dollar settlement that Uber made with the state of New Jersey one state in addition to the publicly announced settlements there’s likewise significant legal expenses there’s there’s other charges there’s other expenses behind that as well so the total cost can be really significant in the tens of millions of dollars or more and and those amounts are growing uh the reason business are getting it so wrong is really just the guidelines are complicated and they’re changing all the time think ir-35 in the UK which has actually been a continuous advancement for a number of years now and and still a lot of uncertainty amongst companies on what it really suggests and how you deal with it most companies are just not familiar with the guidelines and and act as if the the guidelines are the same everywhere which they’re not so so encourage you to to be very proactive as you’re engaging uh workers from a category perspective alright thank you Stephen and moving back to yourself Ray it’s not only the business that suffers in the long run what impacts can this have on the staff member Maternity Pay Papaya Global specifically when it comes to their own tax liabilities social security and advantages for example jury and undoubtedly the workers the other side of the coin
I find time and time again the employees often misclassified unknowingly they do not understand the conditions of employment or contract and are told by the client why it’s optimum mainly to the customer why you should be employed or engaged in this style the worker may owe taxes and Social Security to the authorities the future pension and health care opportunities of the worker can be impacted and numerous times it can be years before this all falls out and by that time it’s too late years have actually gone by they haven’t contributed to pensions And so on so it’s a huge impact that they never ever knew they were walking into you couldn’t agree with you more if you say the UK for instance hmrc can go back as much as 10 years um Kathy companies are taking out insurance coverage against misclassification but generally premiums are just covering the cost of legal fees whilst the typical claim examined against employers corresponds to to 40 or 50 percent of the base salary of worker is there any point in taking out insurance and what is the alternative yeah to your point um you do need to read the small print it is not covering the taxes penalty and interest in most cases I have not seen it at least so uh the the other area that I do believe if you managed to get the protection what we are stating is is that if your compliance program is not up to stuff you could be denied protection on the basis of the truth that you were not in compliance with laws um in the UK
Cost Factors to consider and Maternity Pay Papaya Global …
The thorough features of come at a cost,
Current decades have actually seen a dramatic modification to the labor force as the increase of remote work has actually broken down geographical barriers to working with. Organizations can now employ personnel from anywhere worldwide, enabling them to access the best offered talent for any offered role. This gives employees more liberty to work from home and increase their earnings without transferring to pricey areas or commuting cross countries. A 2022 study discovered that 87% of employees who have the opportunity to work remotely take that chance. The break out of COVID-19, in conjunction with new enterprise connection software, sped up the relocate to remote work, including in industries previously reluctant to accept the pattern.
insights are valuable 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 operated in payroll for the last 25 years I’ve had functions in all sort of Industries retail and Appeal to Aerospace in all types of businesses startup to matrixed environments around the world I provided leadership and strategy to populations of more than 100,000 staff members on a regular monthly basis and in over 170 nations today I’m the perel strategist for papaya
Global I work across business man maning and building external relationships supporting Enterprise clients and solutions and acting as a consultant I want to present our very first Greg um visitor Greg who will kick things off by telling us um who he is and a little bit more about bamboo HR Greg over to you thanks Ian yeah as Ian said my name is Greg Piper uh I am the senior business counsil at bambo HR so I lead our in-house legal group and really work extremely closely with our um HR department as well to handle different legal and HR matters that turn up so truly delighted to be here about bambo HR if if you’re not knowledgeable about us uh at bambo HR we say our objective is to set you as HR specialists totally free to do excellent
Although Papaya Global provides integrations with various HR and finance systems, we experienced some difficulties throughout the combination procedure. Personalizing the software to line up with our existing facilities showed to be more complicated than expected, leading to delays in the preliminary rollout.
The comprehensive functions offered by Papaya Global come at a cost, which some of our smaller sized subsidiaries discovered to be excessively expensive. As a worldwide organization, we had to carefully weigh the need for innovative performance versus budget restrictions.
Assistance Action Time:
On occasion, our teams experienced issues that needed immediate assistance. However, the response time from Papaya Global’s customer assistance group was not always as prompt as we would have liked, causing hold-ups in resolving those issues.
Our implementation of included a phased technique. We started by onboarding a few subsidiaries to evaluate the system’s compatibility with our existing processes. This enabled us to determine and attend to combination difficulties early on. As the software application ended up being more ingrained in our operations, we gradually broadened its usage to cover our entire global labor force.
The automated functions streamlined our payroll processes, reducing the time invested in manual calculations and compliance tracking. Routine training sessions and ongoing support from Papaya assisted our teams become skilled users of the software application, optimizing its potential for our organization.
However, paying a labor force can be complex. It is particularly challenging for business who employ staff throughout multiple nations, as they must constantly consolidate various data streams, manually track local and nationwide labor and guidelines, and spend valuable time and resources to establish regional entities in brand-new areas. These companies are confronted with suboptimal, expensive choices, like opening a foreign subsidiary or working with a professional employment organization, which is a regional firm that employs employees on their behalf and can charge up to 15% of. By 2022, 75% of companies reported difficulty recruiting certified workers, an increase of 21% from 2019. The payroll & HR solutions market was valued at $26.4 billion in 2022 and is projected to reach $50.4 billion by 2030.
provides a solution supporting all types of work. It offers an end-to-end platform, from employee onboarding and ongoing management to global payments and. It helps companies with labor law compliance in the jurisdictions in which they run, uses 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 expert in payroll and labor force management. She co-founded after seeing the innovation gap in worldwide.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please make certain to participate in the total webcast in order to receive your credits if you have any concerns during the webcast please click on the Q&A tab in your webinar controls and type the there a new tab will open in your web browser with the webcast survey please make sure to complete it as soon as the webcast has ended it is now my pleasure to turn it over to Pap and bamboo HR for their presentation hello and thank you for joining us today we’re thrilled to have you here as we embark on a journey of data to guideline accomplishing
360 degree employee compliance where we’ll dive into the important elements of the staff member compliance management model throughout the session we’ll check out real world difficulties real local policies best practices and the role of Automotion in simplying compliance journey be prepared to emerge in a thorough understanding of how to safeguard your company and workers while staying certified in an
Ever developing regulative environment in the everchanging world of service and financing making sure compliance with payroll regulations is not just vital however likewise a legal important from the moment 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 consequences nevertheless with a much deeper more nuanced understanding of their obligations companies can not just navigate the detailed landscape however likewise proactively guarantee this 360 degree compliance the webinar is developed to equip you with the knowledge and tools necessary to navigate the complex Terrain of compliance whether you’re an experienced P professional a small company owner or somebody new to the field what I wish to do before we start and I believe it’s really essential
In our mission to boost performance and accuracy in handling our worldwide workforce, our multinational corporation turned to, a leading and labor force management software application. The shift aimed to simplify the complex job of managing across different countries, currencies, and compliance policies.
Among the standout features of is its robust compliance management system. The software instantly updates itself to stick to ever-evolving tax and labor laws throughout multiple jurisdictions. This has actually been vital in guaranteeing that our processes stay compliant in each country of operation.
is to state that the content here is illegal advice it is merely for your information please consult your legal group should you have any questions or issues 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 employee compliance dangers how to work with ly with confidence how to simplify information management and automation so let’s take ourselves a moment to acquaint ourselves with the webinar platform once again as we have actually.
function as your hris or is sort of your core staff member record um to handle that worker 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 assist manage the advantages you offer to your employees so really thrilled to be here represent um bamb booy jar and talk about this subject um and I guess from my perspective I’ll I’ll most likely supply a lot of a concentrate on the US side of things when we speak about sort of compliance so delighted to be here thanks for having me Ian okay thanks Greg um Gina over to you would you like to present yourself and inform the audience a little bit about papay worldwide yes definitely thank you Ian hello everyone I’m Gina dorelis I’m the Employment expert supervisor.
at I manage the employment Council in the United States APAC EMA and Israel region I also function as us Council for I’m accredited in New york city and New Jersey um we guarantee compliance onboarding and offboarding of employees with regard to papaya we provide payroll payments and labor force management as a Service labor force company to employees serving in over.
160 countries alright thank you so both I feel entirely underqualified sitting here with you both well I forgot to point out as we were sort of like going through the intro so it’s really truly nice to in fact see in the webinar chat where everybody’s in fact attending from today I can see that we have individuals in Las Vegas and Indiana already so if you wish to carry on tell where you are that would be definitely wonderful whilst we just wait on everyone else to kind of like join in there we go Chicago as well well um so whil we’re doing that I’m waiting for everybody to sort of join I’ll just run us through the agenda um today we are going to go over working with Talent new higher Information Management termination compliance and automation wow the chat has got truly actually busy so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from absolutely everywhere which is great so uh I’m hoping that we’re actually going to have some truly great commentary and questions throughout the uh the webinar as well alright so that’s the program then what I ‘d like to Now cover is the the compliance and the Privacy side of things so the the Journey of a worker and their data is Maternity Pay Papaya Global diverse without fail and an.
Ever progressing relationship that starts the moment an individual joins a company it continues throughout their work and Beyond this journey can be divided into k to numerous key phases whilst we’re in fact you know that they’re used with us so on boarding day-to-day operations payment and advantages professional development then we get to the offboarding and even advocacy so it even happens after the worker has left your work throughout the journey organizations are accountable for collecting saving safeguarding staff member information in compliance with information privacy guidelines no matter where it is you’re running worldwide it often involves implementing secure information management systems and making sure stringent adherence to regional requirements to safeguard both the employee and the company the development of employee information and management c.