Payroll and payments run smoothly …Papaya Global Training Uk
if they depend on the essential numerous procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles service face when they’re making payments to employees or otherwise that’s an excellent concern I constantly throw this back and state what is it what does not need to be included right and what does
it require to be thought about there’s differing Bank information so the length of an eye band a swift an account number routing code per country 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 consumer’s own in-country account so there’s intricacy anywhere you look best eventually developing a knowledge base is absolutely important however all over you look with payroll payment they are like incredibly payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it’s closer than ever I believe there’s now a bit more recognition that payroll payments are absolutely fundamental and innovation is enabling us to sort of move on with that it also also to contribute to that payroll and finance need to work closer together um with varying Checking account Details differing banking requirements and setup procedures is absolutely essential that payroll and finance teams work better together than ever um I’m constantly impressed when people state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um eventually it’s payroll is an end-to-end process it’s the point of information collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world positions a high value on well-being and the compensation landscape is becoming significantly intricate. Services are constantly introducing new benefits and payment choices, which contributes to the general intricacy. Big corporations frequently divide their payroll and payment processing into different teams, which can cause inefficiencies and traffic jams. In my opinion, this does not need to be the case. In today’s highly sophisticated period, there’s no justification for maintaining troublesome treatments. Payroll, the business’s most significant expense, must be processed correctly and on time. Even minor delays can negatively impact employees’ wellness and have significant consequences. Therefore, it’s critical to focus on precise and timely payments.
payroll team get um so I’m not sure anybody on this type of webinar has been informed thank you for processing my payroll correctly if you have it ‘d be fantastic to hear your success story and whether that’s been from all staff members or not um however ultimately 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 but when it goes right it’s just a tick box workout and I think that’s how it’s seen from the external deem well um so yeah it’s likewise like why WI-Fi Global why all of this stuff is absolutely essential that all of this stuff is done properly so leveraging the first Worldwide Payments first payroll payment solution is a great first step um providing an end-to-end payroll solution for your employees globally once again I believe is another substantial um process again lining up and ensuring you have standardization Worldwide processes all of those things are definitely key to success success of organizations and minimizing the variety of tools platforms and savings account they need for their Global 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 do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things haven’t gone quite where they’re implied to be um I do not think any of us are actually doing that for for the thanks
anyhow we understand how how essential 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 easy as possible for everybody that’s involved in those processes and likewise so think of sorry I’m simply I was just gon na say think of the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we’re talking about hundreds of thousands possibly Millions imagine getting that lots of thank you notes um I indicate it ‘d be interesting to see the number of Post-it notes you got however it would definitely be an interesting job trying to clean all those up for sure oh absolutely I can’t think of the size of my my Outlook inbox if that was the case um you ‘d require days of the week to try to browse them and in fact see what was going on and sort of try to get back to everyone so proceeding appearance why do business pick to main different checking account there are services out there doing exactly this for specific nations and I’ve worked in a business or lots of businesses doing precisely that I can say it does not constantly feel effective and it does produce more work I understand we’re not purposely doing that we’re not creating additional work for anybody where we do not need to and any person that’s managing that procedure I ‘d be interested to hear your thoughts Johnny why do you believe that we’re doing that in in the in the quantity that we are I think numerous factors one is it’s the standard I think people have got so used to we need a new checking account we open an entity and rightly so you require it for payroll purposes however there are a variety of markets where it’s not a requirement so I think it’s simply been the standard and the norm the people have adopted and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and lots of other methods um to to kind of do it so I think there’s a range I think this is a process that needs taking a look at it requires changing but eventually people are really stuck with what they’re familiar
with right um modification is a tough thing all of us don’t like modification um so I think it’s simply sort of moving away from the norm as we’ve said so yeah so it keeps a lot of track of stuff um I understand clearly the advantages of having keeping multiple checking account but there’s a substantial amount of intricacy chooses establishing a bank account maintaining it ensuring it can send out International transfers ensuring it’s established with the ideal user accesses for specific individuals so the intricacy is big but I believe the sincere answer is change um individuals haven’t been able to change or have not had necessarily the understanding to actually make that change into alternate Solutions other than opening a checking account I believe you have actually hit the nail on the head I believe it is understanding you know and there is an element of resistance to change but we have actually constantly done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what might practically be identified to be the next Century or two there is a lot to keep track of and this approach does present a number of obstacles um so Johnny might you tell
Expense Factors to consider and Papaya Global Training Uk …
The thorough functions of come at a cost,
Over the past few decades, the labor force has gone through a substantial change with the emergence of remote work, which has eliminated geographical restrictions on hiring. This has actually made it possible for services to recruit talent from all over the world, permitting them to assemble the best possible group for each role. As a result, employees have actually gained higher flexibility to work from home and increase their revenues without having to transfer to costly locations or commute fars away. According to a 2022 survey, 87% of employees who have the choice to work remotely pick to do so. The COVID-19 pandemic, combined with advancements in business connectivity software, has actually further accelerated the shift towards remote work, even in industries that were at first reluctant to embrace the trend.
insights are valuable to us and and your fellow attendees so first things initially though um let’s learn more about everyone my name is Ian Charles and I have actually worked in payroll for the last 25 years I’ve had functions in all kind of Industries retail and Charm to Aerospace in all types of businesses start-up to matrixed environments across the globe I provided leadership and strategy to populations of more than 100,000 employees on a regular monthly basis and in over 170 nations today I’m the perel strategist for papaya
Global I work throughout the business guy maning and constructing external relationships supporting Enterprise clients and options and serving as an advisor I ‘d like to present our very first Greg um guest 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 stated my name is Greg Piper uh I am the senior corporate counsil at bambo HR so I lead our internal legal group and actually work very carefully with our um HR department too to manage various legal and HR matters that turn up so actually excited 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 professionals free to do great
Although Papaya Global provides integrations with numerous HR and finance systems, we came across some difficulties during the combination procedure. Customizing the software to line up with our existing facilities showed to be more complex than expected, leading to delays in the initial rollout.
The extensive features provided by Papaya Global come at an expense, which some of our smaller subsidiaries discovered to be excessively pricey. As a global company, we needed to thoroughly weigh the need for advanced functionality versus budget plan constraints.
Support Action Time:
On occasion, our teams experienced concerns that required urgent assistance. However, the reaction time from Papaya Global’s customer assistance team was not always as timely as we would have liked, resulting in delays in dealing with those problems.
Our implementation of included a phased method. We started by onboarding a few subsidiaries to evaluate the system’s compatibility with our existing processes. This allowed us to recognize and deal with combination difficulties early on. As the software application became more instilled in our operations, we slowly broadened its usage to cover our entire international workforce.
The automated features streamlined our payroll procedures, minimizing the time invested in manual calculations and compliance tracking. Routine training sessions and ongoing assistance from Papaya helped our groups become competent users of the software, maximizing its potential for our company.
Nevertheless, paying a labor force can be intricate. It is particularly challenging for business who employ staff throughout several nations, as they need to constantly combine various information streams, manually track regional and national labor and policies, and spend important time and resources to establish local entities in new areas. These business are confronted with suboptimal, expensive choices, like opening a foreign subsidiary or employing an expert work organization, which is a local company that hires staff members on their behalf and can charge up to 15% of. By 2022, 75% of employers reported difficulty hiring certified personnel, an increase of 21% from 2019. The payroll & HR solutions market was valued at $26.4 billion in 2022 and is forecasted to reach $50.4 billion by 2030.
offers an option supporting all forms of employment. It provides an end-to-end platform, from staff member onboarding and ongoing management to international payments and. It assists companies with labor law compliance in the jurisdictions in which they run, provides management of employment advantages, and makes sure information personal privacy in compliance with GDPR.
Eynat Guez |
Eynat is the CEO of. A business owner with 15 years of experience, she is a leading professional in payroll and labor force management. She co-founded after seeing the technology gap in international.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please make sure to go to the complete webcast in order to get your credits if you have any concerns throughout the webcast please click the Q&A tab in your webinar controls and type the there a new tab will open in your internet browser with the webcast study please be 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 hi and thank you for joining us today we’re enjoyed have you here as we start a journey of data to policy accomplishing
360 degree employee compliance where we’ll dive into the vital elements of the worker compliance management model throughout the session we’ll check out real life obstacles real local guidelines finest practices and the function of Automotion in simplying compliance journey be prepared to emerge in a thorough understanding of how to secure your organization and workers while staying certified in an
Ever developing regulative environment in the everchanging world of organization and financing guaranteeing compliance with payroll regulations is not just vital however likewise a legal essential from the moment of employing to the in intri intricacies even sorry of termination every step along the worker journey is Frau with compliance threats that have far-reaching consequences nevertheless with a deeper more nuanced understanding of their responsibilities organizations can not just browse the complex landscape however likewise proactively ensure this 360 degree compliance the webinar is designed to equip you with the knowledge and tools needed to browse the complex Surface of compliance whether you’re a skilled P specialist a small business owner or someone new to the field what I would like to do before we start and I think it’s actually essential
In our quest to enhance performance and accuracy in managing our global workforce, our multinational corporation turned to, a leading and labor force management software application. The transition aimed to streamline the complex job of managing throughout numerous countries, currencies, and compliance policies.
Among the standout features of is its robust compliance management system. The software application instantly updates itself to abide by ever-evolving tax and labor laws throughout numerous jurisdictions. This has actually been invaluable in making sure that our processes remain compliant in each country of operation.
is to state that the material here is not legal guidance it is just for your details please consult your legal team needs to you have any questions or concerns in relation to anything that we’ve gone over today our key take key takeaways by the end of the webinar will be an understanding of worker compliance risks how to hire ly with confidence how to simplify information management and automation so let’s take ourselves a minute to familiarize ourselves with the webinar platform once again as we have actually.
act as your hris or is type of your core employee record um to manage that worker life cycle throughout their Journey with you as as a worker in addition to a payroll module we have to assist you pay those staff members and compensate them and advantages Administration module that permits you to assist handle the advantages you supply to your staff members so truly delighted to be here represent um bamb booy container and speak about this topic um and I think from my point of view I’ll I’ll most likely supply a great deal of a concentrate on the US side of things when we discuss kind of compliance so delighted to be here thanks for having me Ian all right thanks Greg um Gina over to you would you like to introduce yourself and tell the audience a bit about papay international yes definitely thank you Ian hey there everybody I’m Gina dorelis I’m the Work specialist manager.
at I manage the employment Council in the United States APAC EMA and Israel region I likewise act as us Council for I’m certified in New york city and New Jersey um we ensure compliance onboarding and offboarding of workers with regard to papaya we offer payroll payments and workforce management as a Service labor force company to employees serving in over.
160 nations 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 introduction so it’s really really good to in fact see in the webinar chat where everyone’s really going to from today I can see that we have individuals in Las Vegas and Indiana currently so if you wish to continue tell where you are that would be definitely great whilst we just wait for everybody else to kind of like join in there we go Chicago as well well um so whil we’re doing that I’m waiting on everyone to sort of join I’ll simply run us through the agenda um today we are going to go over employing Talent brand-new greater Information Management termination compliance and automation wow the chat has got truly actually hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re originating from definitely everywhere which is great so uh I’m hoping that we’re really going to have some actually terrific commentary and concerns throughout the uh the webinar as well all right so that’s the program then what I wish to Now cover is the the compliance and the Personal privacy side of things so the the Journey of an employee and their information is Papaya Global Training Uk diverse without fail and an.
Ever progressing relationship that starts the minute an individual joins an organization it continues throughout their employment and Beyond this journey can be divided into k to a number of key stages whilst we’re really you know that they’re used with us so on boarding everyday operations compensation and benefits expert advancement then we get to the offboarding and even advocacy so it even happens after the employee has actually left your employment throughout the journey organizations are accountable for gathering saving securing worker data in compliance with information privacy guidelines no matter where it is you’re running all over the world it frequently involves implementing protected data management systems and ensuring strict adherence to regional requirements to protect both the staff member and the organization the evolution of worker data and management c.