A CFO’s Perspective on Papaya Global Add New Employee…
Papaya Global’s platform enhances global labor force management for companies, making sure compliance with local policies and tax laws. Their services include payroll processing, advantages administration, compliance oversight, time and attendance tracking, and HR support. The platform centralizes worldwide payroll operations, providing companies with real-time insights and control. Founded in 2016, Papaya Global has broadened to Tel Aviv, New York City, London, and Kiev.
In the vibrant landscape of global organization operations, managing payroll across borders can be a complex and tough job. As the Chief Financial Officer (CFO) of a global company, I comprehend the important significance of efficient and compliant payroll management. In our pursuit of excellence, we have welcomed ingenious options to streamline our procedures, and one such transformative tool is Software.
The Challenge of Worldwide Payroll:
Worldwide expansion causes varied difficulties, and payroll management is no exception. Differing tax guidelines, differing employment laws, and multiple currencies make it important for companies to embrace advanced services to make sure precision, compliance, and effectiveness in payroll processing.
Software application: A Comprehensive Solution:
It is crucial to think about and consist of post-termination limitations in the employment contract to make sure enforceability. You need to thoroughly determine what you are looking for to protect and clearly specify the secret information that falls within its scope. Furthermore, specify the duration of the post-termination constraint and be prepared to justify it in relation to intellectual property. The rules concerning copyright vary depending on the kind of IP and the jurisdiction. For example, in the Netherlands, completion customer is most likely to have copyright rights over works produced by workers under their supervision, while in Poland, contractual assignment may be necessary.
Papaya Global Software has emerged as a game-changer in the world of worldwide payroll management. Its cloud-based platform incorporates payroll, workforce management, and employee benefits into a single, easy to use interface. As the CFO, I have actually experienced firsthand the positive effect of on our organization’s monetary operations.
Unified Global Payroll Processing:
enables our company to process payroll perfectly across numerous nations. The platform’s unified technique permits consistent payroll estimations, reducing errors and guaranteeing compliance with regional regulations. This has actually considerably mitigated the dangers related to global payroll processing.
also crucial for if in the future someone states misclassification you have your file supported by the requisite documents which the best assessment tools to reveal someone that you had a thoughtful procedure and so what do you need to include 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 running what are they doing is it the type of work that provides itself more to being an independent specialist than a staff member so for example accounting
I.T crafting the creatives these all provide themselves more to that evaluation of being freelancer you know also uh where are they doing it can they work from anywhere or do they need to be on website and handled once again another crucial aspect is the management and guidance of the uh employee and then lastly when is it a specific project is it a six-month job 6 years all of this is manageable but it has to be documented and it has to be thoroughly um examined 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 worldwide these tools take a questionnaire list for the employee the employee fills out and fills these questions out and so does the end client or the recipient of the services they both put their information into the tool and after that it does an assessment waiting the different concerns because not every jurisdiction has the same sensation about some of these concerns some think they’re more vital than others and it brings out a red yellow or green red you’re probably a worker yellow you’re on the cusp we can probably assist you with that in terms of some of the things you need to boost to make sure that you are considered that evaluation of uh independent professional or green where you were examined as an as a independent contractor once that evaluation is done all the requisite documents are below it so that if later there
Browsing the complexities of worldwide employment laws and tax policies can be frustrating. Papaya Global’s automated compliance engine keeps our company updated with changes in policies across jurisdictions. This makes sure that our payroll procedures follow the most recent requirements, minimizing the threat of non-compliance and associated charges.
network of In-House outside advisors accounting firms and legal companies who assist us keep our databases completely approximately date and we also contact we need to when we see an uncommon or or especially complicated scenarios fine thanks Steve I can just see a fast question in the Q a window yes the session will be recorded and sent to guests later on um returning to to the webinar itself Ray company of record is managed differently around the globe and the German law for example it’s classified as staff member leasing can you shed any light on a few of the unique considerations for countries and where the eor design isn’t managed yes Ian worker leasing or labor leasing as it’s also called which prevails in several countries specifically in Europe imposes strict guidelines on products such as the length of task it also designates employees to collective bargaining contracts that provides rights and advantages however even in the countries that do not have those stringent regulations for instance the UK Canada and the nordics there are policies for each nation and each worker is treated the same as all the other workers in that country and all those guidelines need to be followed fine thank you Ray um Kathy moving I would state to yourself what do business require to consider 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 clearly the the advantage of contractors versus staff members is the the flexibility for both the worker and for the employer um however I can’t worry enough how important it is to have a constant comprehensive and a well-documented compliance
Papaya Global Add New Employee and Time Savings:
The software’s automation capabilities have significantly decreased the time and effort needed for payroll processing. Handbook information entry and recurring tasks have actually been minimized, allowing our financing group to concentrate on strategic efforts rather than administrative burdens. This has led to increased performance and efficiency within our monetary operations.
in one because each state has its own guidelines Californians are some of the most strict an example is pay slips on a payslip in California the best information needs to be on the payslip in the ideal format and in the ideal position if you’re in breach of of policies for payslips the fines are released per payslip so that’s each worker each pay slip will sustain a fine thanks Ray thank you Elizabeth a lot to worry to think of and we’re only 2 questions in and 10 minutes approximately employing in one country is difficult enough however when employing in a you know on a worldwide level it’s a totally various story you require to make certain that you depend on date with existing in addition to pending local labor laws Steve um how do you make certain and guarantee that the people 2.0 team is on top of an ever-changing landscape which your clients are totally supported and I’ll arrange this into three crucial things we perform in primarily you require to have the right team so we hire a group of global specialists in Employment Practices um that ex that team of experts consists of legal representatives it consists of payroll specialists it includes HR specialists and these are people that not only understand the laws in these in these countries and areas however they also understand the languages they understand the local practices they understand the cultures and it is essential to have that right group and truly have the group on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global offers comprehensive real-time analytics and reporting tools. As a CFO, having access to precise and timely financial information is crucial for decision-making. The platform’s reporting capabilities empower me to make informed strategic decisions based upon real-time insights into our worldwide payroll data.
application and its scope and the manner in which it applies to employment law in practice can be evaluated through the judicial system by way of case law examples of that would be the acquired rights instruction otherwise known as the 2p guidelines in the UK the working time guidelines which has actually had numerous hairs of that legislation checked especially around holiday pay and obviously as Kathy’s going to come on to talk about later employment status which there’s been multiple precedence set over the years so I think it’s actually that constant advancement of the work law landscape that you actually need to browse when when operating in Europe fine thank you Elizabeth Ray what about you from your personal experience while crossing the pond as pointed out each nation has different policies but the United States is basically 50 countries
Scalability for Business Development:
One of the standout functions of Papaya Global is its scalability. As our business continues to grow and expand into new markets, the software flawlessly accommodates changes in our workforce and payroll requirements. This scalability makes sure that our payroll infrastructure can adjust to the evolving needs of our worldwide organization.
International Chief legal officer we’ve got Elizabeth Beal who is our chief legal officer for Amia and we have actually got Ray Gander who is our senior vice president of customer service and I would state separately and collectively these three individuals have Years of experience in in work law and global Employment Practices so thank you it’s a pleasure to be with everybody 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 Services at papaya Worldwide 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 have actually had the chance to relocate and work in 3 different nations it is the business’s responsibility to guarantee my defense while residing in a foreign country compliance with local laws and regulations is important for me or anybody else as an expat or as a regional so today we have actually welcomed our trusted Partners people 2.0 to demonstrate the value of regional
know-how when companies Go Worldwide thank you and delight in okay thank you as I stated let’s move on to the pact agenda today’s webinar is an opportunity to ask the panel the concerns you’ve been considering we’ll talk about the realities a company needs to think about when opening a brand-new entity and broadening into brand-new nations along with keeping things going we’ll cover elements such as local guidelines factors to consider when working with compliance key difficulties payments and what not to do it is among the most essential things remembering what not to do um operating on a worldwide level is not for the faint-hearted the larger a business grows the more they need to comprehend and manage understanding what to do in each new scenario as it increases is important on numerous levels understanding local guidelines and local laws along with company practices assists mitigate Associated and international growth papaya through our local experts can browse possible threats such as copyright protection data privacy security problems guaranteeing the business’s operations remain certified and protected tax Social Security returns and remittances differ by nation
In conclusion, Papaya Global Software has actually shown to be an invaluable asset in our quest for effective and compliant global payroll management. As the CFO of a worldwide business, I am positive in suggesting Papaya Global to companies looking for to enhance their payroll processes, improve compliance, and accomplish higher efficiency in managing their international labor force. The software application’s innovative functions and dedication to excellence align with our tactical goals, making it an essential part of our monetary operations.
I find time and time again the workers typically misclassified unwittingly they don’t comprehend the conditions of employment or agreement and are informed by the client why it’s optimum primarily to the customer why you should be utilized or participated in this style the worker might owe taxes and Social Security to the authorities the future pension and health care benefits of the worker can be impacted and a number of 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 added to pensions Etc so it’s a huge impact that they never knew they were strolling into you couldn’t agree with you more if you state the UK for instance hmrc can return as much as 10 years um Kathy companies are getting insurance against misclassification but normally premiums are only covering the cost of legal charges whilst the average claim examined versus companies corresponds to to 40 or half of the base salary of worker is there any point in getting insurance coverage and what is the alternative yeah to your point um you do require to read the small print it is not covering the taxes charge and interest for the most part 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 Add New Employee …
The extensive functions of come at a cost,
Over the past few years, the workforce has actually gone through a significant improvement with the development of remote work, which has actually gotten rid of geographical restrictions on hiring. This has allowed businesses to hire talent from all over the world, allowing them to put together the very best possible group for each role. As a result, workers have gotten greater versatility to work from home and increase their earnings without having to relocate to costly locations or commute cross countries. According to a 2022 study, 87% of staff members who have the alternative to work remotely select to do so. The COVID-19 pandemic, integrated with improvements in enterprise connectivity software application, has actually further accelerated the shift towards remote work, even in industries that were initially reluctant to embrace the trend.
insights are valuable to us and and your fellow attendees so first things first though um let’s be familiar with everyone my name is Ian Charles and I’ve 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 organizations start-up to matrixed environments across the globe I provided management and technique to populations of more than 100,000 employees on a month-to-month basis and in over 170 countries today I’m the perel strategist for papaya
Global I work throughout the business man maning and constructing external relationships supporting Business clients and options and serving as an advisor I want to introduce our first Greg um guest Greg who will kick things off by telling us um who he is and a 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 in fact work really closely with our um HR department as well to deal with different legal and HR matters that show up so actually excited to be here about bambo HR if if you’re not acquainted with us uh at bambo HR we state our mission is to set you as HR specialists totally free to do terrific
Although Papaya Global offers combinations with different HR and financing systems, we encountered some difficulties throughout the combination procedure. Tailoring the software application to align with our existing infrastructure showed to be more intricate than prepared for, leading to delays in the preliminary rollout.
The comprehensive features offered by Papaya Global come at a cost, which a few of our smaller subsidiaries found to be excessively pricey. As a global organization, we had to thoroughly weigh the requirement for advanced functionality against budget constraints.
Support Reaction Time:
On occasion, our groups experienced problems that required urgent support. Nevertheless, the response time from Papaya Global’s consumer support team was not always as timely as we would have liked, resulting in hold-ups in resolving those issues.
Our application of involved a phased approach. We started by onboarding a couple of subsidiaries to check the system’s compatibility with our existing processes. This enabled us to determine and address combination challenges early on. As the software became more instilled in our operations, we gradually expanded its usage to cover our entire global workforce.
The automated functions streamlined our payroll processes, decreasing the time invested in manual estimations and compliance tracking. Regular training sessions and ongoing assistance from Papaya helped our teams become skilled users of the software application, maximizing its capacity for our organization.
Nevertheless, paying a workforce can be intricate. It is particularly challenging for business who utilize personnel throughout multiple nations, as they should continuously combine different data streams, by hand track local and national labor and guidelines, and spend important time and resources to set up regional entities in new locations. These business are confronted with suboptimal, pricey options, like opening a foreign subsidiary or working with an expert employment company, which is a regional company that employs employees on their behalf and can charge up to 15% of. By 2022, 75% of employers reported problem recruiting certified workers, a boost of 21% from 2019. The payroll & HR solutions market was valued at $26.4 billion in 2022 and is predicted to reach $50.4 billion by 2030.
uses a solution supporting all kinds of work. It provides an end-to-end platform, from worker onboarding and continuous management to international payments and. It assists business with labor law compliance in the jurisdictions in which they run, uses management of work benefits, and ensures information 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 workforce management. She co-founded after seeing the innovation space in worldwide.
papaya this webcast has been pre-approved for hrci and Sherm credit please make certain to attend the complete webcast in order to receive your credits if you have any concerns during the webcast please click 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 study please make sure to finish it as quickly as the webcast has 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 guideline accomplishing
360 degree staff member compliance where we’ll dive into the vital elements of the worker compliance management model throughout the session we’ll explore real life difficulties genuine local regulations finest 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 employees while staying compliant in an
Ever developing regulatory environment in the everchanging world of business and financing ensuring compliance with payroll regulations is not only vital however also a legal crucial from the moment of hiring to the in intri intricacies even sorry of termination every step along the worker journey is Frau with compliance threats that have significant consequences nevertheless with a deeper more nuanced understanding of their obligations organizations can not only navigate the complex landscape but also proactively ensure this 360 degree compliance the webinar is designed to equip you with the understanding and tools essential to navigate the complex Terrain of compliance whether you’re a skilled P professional a small company owner or someone new to the field what I want to do before we start and I think it’s really crucial
In our mission to boost performance and accuracy in managing our international workforce, our international corporation turned to, a leading and workforce management software. The shift aimed to streamline the complex job of managing throughout various countries, currencies, and compliance regulations.
One of the standout features of is its robust compliance management system. The software automatically updates itself to follow ever-evolving tax and labor laws throughout numerous jurisdictions. This has actually been invaluable in making sure that our processes remain compliant in each nation of operation.
is to state that the content here is illegal recommendations it is simply for your information please consult your legal group needs to you have any concerns or issues in relation to anything that we have actually talked about today our secret take key takeaways by the end of the webinar will be an understanding of staff member compliance threats how to hire ly with self-confidence how to streamline information management and automation so let’s take ourselves a moment to familiarize ourselves with the webinar platform once again as we’ve.
function as your hris or is type of your core worker record um to handle that staff member life cycle throughout their Journey with you as as a worker in addition to a payroll module we have to help you pay those workers and compensate them and advantages Administration module that enables you to assist manage the advantages you offer to your workers so really delighted to be here represent um bamb booy jar and speak about this topic um and I think from my viewpoint I’ll I’ll probably provide a great deal of a concentrate on the United States side of things when we talk about kind of compliance so happy 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 bit about papay worldwide yes absolutely thank you Ian hello everyone I’m Gina dorelis I’m the Employment professional supervisor.
at I handle the employment Council in the United States APAC EMA and Israel region I likewise serve as us Council for I’m licensed in New York and New Jersey um we make sure compliance onboarding and offboarding of employees with regard to papaya we offer payroll payments and labor force management as a Service work force company to employees serving in over.
160 nations fine thank you so both I feel totally underqualified sitting here with you both well I forgot to point out as we were type of like going through the introduction so it’s really really nice to really see in the webinar chat where everyone’s in fact participating in from today I can see that we have people in Las Vegas and Indiana already so if you wish to continue inform where you are that would be definitely wonderful whilst we just await everyone else to kind of like take part there we go Chicago too well um so whil we’re doing that I’m waiting for everyone to sort of join I’ll just run us through the agenda um today we are going to go over working with Skill new higher Details Management termination compliance and automation wow the chat has actually got really actually hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from definitely all over which is great so uh I’m hoping that we’re in fact going to have some really fantastic commentary and questions throughout the uh the webinar also fine 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 an employee and their data is Papaya Global Add New Employee multifaceted without fail and an.
Ever developing relationship that begins the moment a person joins a company it continues throughout their employment and Beyond this journey can be divided into k to several key stages whilst we’re really you understand that they’re utilized with us so on boarding day-to-day operations compensation and advantages expert advancement then we get to the offboarding and even advocacy so it even occurs after the staff member has actually left your employment throughout the journey organizations are accountable for collecting saving protecting employee data in compliance with data personal privacy regulations no matter where it is you’re running around the globe it frequently includes executing safe and secure data management systems and ensuring rigorous adherence to local requirements to protect both the employee and the company the advancement of staff member information and management c.