Payroll and payments run smoothly …Papaya Global My Affiliate
if they depend on the required numerous procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles company face when they’re making payments to staff members or otherwise that’s a good concern I constantly throw this back and state what is it what does not need to be included right and what does
it need to be thought of there’s varying Bank details so the length of an eye band a swift an account number routing code per nation there’s payment time frames there’s payment abilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the client’s own in-country account so there’s complexity any place you look right ultimately constructing a knowledge base is absolutely important however all over you look with payroll payment they resemble super payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it’s closer than ever I think there’s now a bit more recognition that payroll payments are definitely essential and technology is allowing us to kind of move on with that it also too to add to that payroll and finance require to work closer together um with varying Checking account Details varying banking requirements and setup procedures is absolutely necessary that payroll and finance groups work more detailed together than ever um I’m constantly surprised when individuals say I’ve split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn’t work in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um eventually it’s payroll is an end-to-end procedure it’s the point of information collection all the way through to paying people any place they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being increasingly more essential to contribute to type of the level of intricacy there’s more and more benefits being organ or being used by services across the world so once again you’re just wanting to add more and more payments to this already intricate landscape so if you kind of got any experience well I’m from your large experience here and I’m sure however have you got any experience in kind of genuine difficulties or real difficult type of pay utilizes to play to pay individuals I believe yeah I suggest over the last well yeah a couple of years I would definitely say that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are teams feeding details into the next function as it were that’s actually managing the payment side of things however you know in in my viewpoint and my experience that doesn’t necessarily require to be the case you understand long gone are the times where we need to develop extra handoffs while doing sos that we run in they simply make them more prompt they make them less effective and they do not make them what they need to be in in an era of tech and a period that you understand that we are operating in today there is no reason we are still making this as tough as it requires to be concurred and rightly as you said payroll is the single greatest liability that any organization has from a cost point of view from an impact viewpoint on staff members it is absolutely crucial that it’s done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments need to be done right it has the biggest damaging impact on people’s wellness and many other aspects if people aren’t paid uh I have actually constantly been surprised entering into this Market kind of the last 5 to ten years is how little thanks the
payroll team get um so I’m unsure anyone on this type of webinar has been told thank you for processing my payroll correctly if you have it ‘d be great to hear your success story and whether that’s been from all employees or not um however eventually payroll is such a crucial cycle all of us find out about it when it goes wrong everyone jumps up and down when it fails however when it goes right it’s simply a tick box workout and I think that’s how it’s seen from the external consider as well um so yeah it’s likewise like why WI-Fi Global why all of this stuff is definitely vital that all of this stuff is done correctly so leveraging the first Global Payments very first payroll payment solution is an excellent initial step um providing an end-to-end payroll service for your staff members worldwide once again I believe is another substantial um process again lining up and guaranteeing you have standardization Global processes all of those things are absolutely essential to success success of companies and lowering the number of tools platforms and savings account they need for their International payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never had a hundred countless them within a payroll cycle don’t anticipate to you do get the odd five or ten or whatever it might be with the with the the grievances where things haven’t gone quite where they’re indicated to be um I don’t think any of us are really doing that for for the thanks
anyway we understand how how crucial a role it is and that’s why we do it that’s why we get on with it and this is why we’re talking today about making it as simple as possible for everyone that’s involved in those processes and also so think of sorry I’m simply I was just gon na state envision the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I’m sure we’re talking about hundreds of thousands potentially Millions think of getting that numerous thank you notes um I indicate it ‘d be interesting to see the number of Post-it notes you got but it would certainly be a fascinating job attempting to clean all those up for sure oh definitely I can’t picture the size of my my Outlook inbox if that held true um you ‘d need days of the week to attempt to look through them and in fact see what was going on and type of shot to get back to everybody so proceeding look why do companies select to main different savings account there are businesses out there doing precisely this for particular nations and I have actually operated in a service or many services doing exactly that I can say it doesn’t constantly feel effective and it does produce more work I understand we’re not deliberately doing that we’re not creating additional work for any person where we don’t need to and any person that’s dealing with that process I ‘d be interested to hear your ideas Johnny why do you believe that we’re doing that in in the in the amount that we are I believe numerous factors one is it’s the standard I think individuals have got so utilized to we need a brand-new checking account we open an entity and rightly so you require it for payroll functions however there are a variety of markets where it’s not a requirement so I think it’s just been the requirement and the norm the people have actually adopted and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and numerous other ways um to to kind of do it so I believe there’s a variety I believe this is a procedure that needs looking at it needs changing but ultimately people are really stuck to what they recognize
with best um modification is a hard thing we all don’t like change um so I think it’s just sort of moving away from the norm as we’ve said so yeah so it keeps a lot of track of things um I comprehend obviously the advantages of having preserving numerous checking account but there’s a huge quantity of intricacy chooses establishing a checking account preserving it ensuring it can send out International transfers guaranteeing it’s set up with the best user accesses for individual individuals so the complexity is big but I believe the honest answer is change um individuals haven’t had the ability to change or haven’t had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a savings account I believe you have actually struck the nail on the head I think it is understanding you understand and there is an element of resistance to alter but we have actually always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what could practically be determined to be the next Century approximately there is a lot to track and this approach does pose several obstacles um so Johnny could you inform
Cost Considerations and Papaya Global My Affiliate …
The detailed features of come at a cost,
Over the past couple of years, the workforce has gone through a significant transformation with the introduction of remote work, which has gotten rid of geographical restrictions on hiring. This has actually made it possible for services to recruit talent from all over the world, allowing them to assemble the very best possible team for each role. As a result, staff members have actually gained higher flexibility to work from home and increase their incomes without needing to move to costly locations or commute fars away. According to a 2022 study, 87% of workers who have the choice to work from another location choose to do so. The COVID-19 pandemic, combined with developments in business connection software application, has actually even more accelerated the shift towards remote work, even in industries that were initially hesitant to adopt the pattern.
insights are important to us and and your fellow guests 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’ve had roles in all sort of Industries retail and Appeal to Aerospace in all types of services startup to matrixed environments around the world I supplied leadership and strategy to populations of more than 100,000 employees on a monthly basis and in over 170 countries today I’m the perel strategist for papaya
Global I work across the business man maning and developing external relationships supporting Enterprise clients and solutions and functioning as a consultant I wish to introduce our very first Greg um guest Greg who will kick things off by informing us um who he is and a 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 in fact work very carefully with our um HR department also to handle different legal and HR matters that come up so actually thrilled to be here about bambo HR if if you’re not familiar with us uh at bambo HR we state our mission is to set you as HR specialists free to do excellent
Although Papaya Global offers integrations with different HR and financing systems, we encountered some hurdles during the combination process. Tailoring the software to align with our existing infrastructure showed to be more intricate than anticipated, leading to hold-ups in the preliminary rollout.
The substantial functions provided by Papaya Global come at an expense, which some of our smaller subsidiaries found to be excessively costly. As a worldwide organization, we needed to carefully weigh the requirement for sophisticated performance against budget restrictions.
Assistance Action Time:
On occasion, our groups experienced concerns that required urgent help. Nevertheless, the reaction time from Papaya Global’s client assistance group was not always as timely as we would have liked, causing hold-ups in solving those concerns.
Our application of involved a phased approach. We began by onboarding a few subsidiaries to check the system’s compatibility with our existing procedures. This permitted us to determine and deal with integration obstacles early on. As the software application ended up being more ingrained in our operations, we gradually expanded its use to cover our whole global workforce.
The automated features structured our payroll processes, reducing the time spent on manual calculations and compliance tracking. Regular training sessions and continuous assistance from Papaya helped our groups become proficient users of the software application, optimizing its capacity for our organization.
Companies that employee workers throughout several nations frequently face complex challenges when it pertains to handling their workforce. Among the most significant difficulties is consolidating different data streams and sticking to varied local and national labor guidelines, which can be both time-consuming and pricey. Additionally, establishing local entities in new regions can be an expensive and suboptimal option, with alternatives such as opening a foreign subsidiary or employing a professional employment company (PEO) typically charging up to 15% of the payroll. These challenges have actually resulted in a significant boost in difficulty hiring certified workers, with 75% of companies reporting this problem in 2022, a 21% increase from 2019. The payroll and HR options market, valued at $26.4 billion in 2022, is expected to reach $50.4 billion by 2030.
uses a service supporting all forms 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 operate, uses management of work advantages, and makes sure 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 workforce management. She co-founded after seeing the technology gap in worldwide.
papaya this webcast has been pre-approved for hrci and Sherm credit please make certain to participate in the complete 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 browser with the webcast study please make sure to complete it as soon as the webcast has actually ended it is now my pleasure to turn it over to Pap and bamboo HR for their discussion hey there and thank you for joining us today we’re thrilled to have you here as we start a journey of data to guideline attaining
360 degree employee compliance where we’ll dive into the vital aspects of the employee compliance management design throughout the session we’ll explore real world obstacles real regional regulations finest practices and the role of Automotion in simplying compliance journey be prepared to emerge in an extensive understanding of how to secure your company and workers while staying compliant in an
Ever developing regulatory environment in the everchanging world of organization and finance ensuring compliance with payroll guidelines is not just crucial but also a legal crucial from the moment of working with to the in intri complexities even sorry of termination every step along the staff member journey is Frau with compliance threats that have far-reaching repercussions nevertheless with a much deeper more nuanced understanding of their obligations companies can not only browse the intricate landscape however also proactively ensure this 360 degree compliance the webinar is designed to equip you with the knowledge and tools needed to navigate the complex Surface of compliance whether you’re a skilled P specialist a small business owner or somebody new to the field what I wish to do before we begin and I believe it’s actually crucial
In our mission to enhance efficiency and precision in managing our worldwide labor force, our international corporation turned to, a leading and labor force management software. The shift intended to streamline the complex job of managing across various nations, currencies, and compliance regulations.
One of the standout functions of is its robust compliance management system. The software application automatically updates itself to abide by ever-evolving tax and labor laws throughout multiple jurisdictions. This has been important in guaranteeing that our processes remain compliant in each nation of operation.
is to state that the material here is illegal recommendations it is simply for your info please consult your legal team ought to you have any concerns or concerns in relation to anything that we have actually talked about today our secret take essential takeaways by the end of the webinar will be an understanding of employee compliance risks how to hire ly with self-confidence how to streamline data management and automation so let’s take ourselves a minute to acquaint ourselves with the webinar platform once again as we’ve.
serve as your hris or is kind of your core employee record um to handle that employee life process throughout their Journey with you as as a staff member in addition to a payroll module we have to help you pay those staff members and compensate them and benefits Administration module that enables you to help manage the advantages you provide to your staff members so actually excited to be here represent um bamb booy container and discuss this subject um and I think from my perspective I’ll I’ll most likely provide a lot of a focus on the US side of things when we discuss kind of compliance so pleased to be here thanks for having me Ian okay thanks Greg um Gina over to you would you like to introduce yourself and inform the audience a bit about papay international yes absolutely thank you Ian hey there everybody I’m Gina dorelis I’m the Employment specialist manager.
at I handle the work Council in the US APAC EMA and Israel region I also act as us Council for I’m certified in New York and New Jersey um we ensure compliance onboarding and offboarding of workers with regard to papaya we supply payroll payments and labor force management as a Service work force provider to workers serving in over.
160 nations fine thank you so both I feel completely 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 actually really great to really see in the webinar chat where everyone’s actually going to from today I can see that we have people in Las Vegas and Indiana already so if you wish to carry on tell where you are that would be definitely fantastic whilst we just await everybody else to kind of like join in there we go Chicago also 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 talk about working with Skill new higher Information Management termination compliance and automation wow the chat has actually got actually actually hectic 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 excellent commentary and concerns throughout the uh the webinar too okay so that’s the agenda then what I wish to Now cover is the the compliance and the Privacy side of things so the the Journey of a staff member and their data is Papaya Global My Affiliate complex without fail and an.
Ever progressing relationship that begins the moment a person joins an organization it continues throughout their work and Beyond this journey can be divided into k to a number of crucial stages whilst we’re in fact you know that they’re employed with us so on boarding day-to-day operations compensation and benefits professional development then we get to the offboarding and even advocacy so it even takes place after the staff member has actually left your employment throughout the journey companies are accountable for collecting storing protecting worker information in compliance with data personal privacy regulations no matter where it is you’re operating all over the world it typically includes implementing secure information management systems and ensuring strict adherence to local requirements to protect both the staff member and the organization the advancement of employee data and management c.