Payroll and payments run smoothly …Papaya Global Auto Enrolment Letters
if they count on the necessary several procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles company face when they’re paying to workers or otherwise that’s an excellent concern I always throw this back and say what is it what does not need to be consisted of ideal and what does
it require to be thought about there’s differing Bank details so the length of an eye band a swift an account number routing code per nation there’s payment timespan there’s payment capabilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the client’s own in-country account so there’s complexity any place you look right eventually developing a knowledge base is absolutely vital however all over you look with payroll payment they are like very payments no if however some babies about it you are all superheroes processing payments for payroll if you 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 basic and innovation is allowing us to kind of move forward with that it also as well to contribute to that payroll and finance require to work closer together um with varying Bank Account Particulars varying banking requirements and setup processes is absolutely crucial that payroll and financing groups work closer together than ever um I’m always astonished when people say I’ve split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn’t operate in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um ultimately it’s payroll is an end-to-end process it’s the point of data collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being more and more crucial to add to sort of the level of intricacy there’s increasingly more advantages being organ or being provided by businesses throughout the world so again you’re just looking to include a growing number of payments to this already intricate landscape so if you type of got any experience well I’m from your vast experience here and I make sure however have you got any experience in kind of real obstacles or real challenging kind of pay utilizes to play to pay people I think yeah I mean over the last well yeah a number of decades I would absolutely state that the bigger a company gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are groups feeding information into the next function as it were that’s in fact handling the payment side of things however you know in in my viewpoint and my experience that does not necessarily require to be the case you know long gone are the times where we require to produce additional handoffs in the processes that we run in they simply make them more prompt they make them less efficient and they don’t make them what they require to be in in an era of tech and a period that you know that we are working in today there is no reason that we are still making this as hard as it needs to be concurred and rightly as you said payroll is the single biggest liability that any organization has from an expense viewpoint from an effect point of view on workers it is definitely vital that it’s done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the most significant destructive impact on people’s wellness and many other aspects if individuals aren’t paid uh I have actually constantly been amazed entering into this Market kind of the last 5 to ten years is how little thanks the
payroll group get um so I’m unsure anybody on this kind of webinar has been told thank you for processing my payroll correctly if you have it ‘d be excellent to hear your success story and whether that’s been from all employees or not um but ultimately payroll is such an essential cycle we all find out about it when it fails everyone jumps up and down when it goes wrong but when it goes right it’s simply a tick box exercise and I think that’s how it’s seen from the external deem well um so yeah it’s also like why WI-Fi Global why all of this things is definitely crucial that all of this things is done correctly so leveraging the very first Worldwide Payments very first payroll payment solution is a fantastic primary step um offering an end-to-end payroll service for your employees internationally again I believe is another huge um process again aligning and ensuring you have standardization International procedures all of those things are definitely essential to success success of companies and minimizing the number of tools platforms and checking account they require for their International payroll too couldn’t agree with you more and on the the front in terms of of the thank yous for getting payroll done I’ve never had a hundred countless them within a payroll cycle do not expect to you do get the odd five or 10 or whatever it might be with the with the the complaints where things haven’t gone rather where they’re implied to be um I do not think any of us are in fact doing that for for the thanks
anyhow we understand how how essential a function it is which’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 associated with those procedures and likewise so imagine sorry I’m simply I was simply gon na state picture the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I’m sure we’re discussing hundreds of thousands potentially Millions picture getting that numerous thank you notes um I imply it ‘d be interesting to see the number of Post-it notes you got however it would absolutely be a fascinating job attempting to clean up all those up for sure oh definitely I can’t envision the size of my my Outlook inbox if that held true um you ‘d require days of the week to attempt to check out them and in fact see what was going on and type of shot to return to everyone so proceeding appearance why do companies pick to main different savings account there are services out there doing precisely this for specific countries and I’ve worked in a company or many organizations doing exactly that I can state it does not always feel efficient and it does develop more work I understand we’re not intentionally doing that we’re not producing additional work for anybody where we do not need to and any person that’s handling that process I ‘d be interested to hear your ideas Johnny why do you think that we’re doing that in in the in the amount that we are I think many factors one is it’s the requirement I believe people have got so utilized to we need a new bank account we open an entity and rightly so you need 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 requirement and the norm the people have actually adopted and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and many other ways um to to sort of do it so I believe there’s a range I believe this is a procedure that requires looking at it needs changing however ultimately people are really stuck with what they recognize
with right um modification is a difficult thing we all do not like modification um so I think it’s just sort of moving away from the standard as we’ve said so yeah so it keeps a lot of track of things um I understand clearly the advantages of having preserving several checking account however there’s a huge amount of intricacy opts for establishing a bank account keeping it guaranteeing it can send International transfers guaranteeing it’s set up with the best user accesses for private individuals so the intricacy is substantial however I think the honest response is change um individuals haven’t had the ability to alter or have not had necessarily the knowledge to actually make that change into alternate Solutions other than opening a checking account I believe you have actually struck the nail on the head I think it is understanding you know and there is an element of resistance to alter but we’ve 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 figured out to be the next Century or so there is a lot to monitor and this technique does present numerous challenges um so Johnny might you tell
Cost Considerations and Papaya Global Auto Enrolment Letters …
The comprehensive features of come at a cost,
Over the past couple of years, the labor force has actually gone through a considerable transformation with the emergence of remote work, which has actually removed geographical restrictions on hiring. This has actually made it possible for companies to hire skill from all over the world, allowing them to put together the very best possible group for each function. As a result, workers have acquired higher versatility to work from home and increase their revenues without having to relocate to costly locations or commute cross countries. According to a 2022 survey, 87% of employees who have the alternative to work from another location select to do so. The COVID-19 pandemic, integrated with advancements in business connectivity software application, has actually further accelerated the shift towards remote work, even in industries that were initially hesitant to adopt the pattern.
insights are valuable to us and and your fellow attendees so first things first though um let’s learn more about everyone my name is Ian Charles and I’ve operated in payroll for the last 25 years I have actually had roles in all sort of Industries retail and Charm to Aerospace in all types of businesses start-up to matrixed environments around the world I provided leadership and strategy to populations of more than 100,000 workers on a regular monthly basis and in over 170 nations today I’m the perel strategist for papaya
International I work throughout business man maning and constructing external relationships supporting Business customers and services and serving as a consultant I ‘d like to introduce our first Greg um guest Greg who will kick things off by informing us um who he is and a little bit more about bamboo HR Greg over to you thanks Ian yeah as Ian said my name is Greg Piper uh I am the senior corporate counsil at bambo HR so I lead our in-house legal group and actually work extremely carefully with our um HR department too to deal with different legal and HR matters that turn up so really 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 professionals complimentary to do great
Although Papaya Global offers combinations with numerous HR and financing systems, we encountered some difficulties during the integration process. Tailoring the software to align with our existing facilities showed to be more complex than anticipated, resulting in hold-ups in the preliminary rollout.
The comprehensive functions used by Papaya Global come at an expense, which some of our smaller sized subsidiaries discovered to be prohibitively costly. As a worldwide company, we had to thoroughly weigh the requirement for innovative functionality against budget plan restraints.
Support Response Time:
On occasion, our teams experienced concerns that required urgent support. Nevertheless, the action time from Papaya Global’s customer support team was not always as timely as we would have liked, leading to delays in fixing those issues.
Our execution of involved a phased approach. We began by onboarding a couple of subsidiaries to test the system’s compatibility with our existing procedures. This permitted us to recognize and address integration obstacles early on. As the software ended up being more implanted in our operations, we slowly broadened its usage to cover our whole worldwide workforce.
The automated features structured our payroll procedures, lowering the time spent on manual estimations and compliance tracking. Routine training sessions and continuous assistance from Papaya helped our teams become proficient users of the software, maximizing its capacity for our organization.
However, paying a labor force can be complex. It is especially challenging for companies who employ personnel throughout several nations, as they need to constantly consolidate different data streams, by hand track local and national labor and regulations, and spend valuable time and resources to establish local entities in brand-new locations. These companies are faced with suboptimal, expensive alternatives, like opening a foreign subsidiary or employing an expert work company, which is a local firm that works with workers on their behalf and can charge up to 15% of. By 2022, 75% of companies reported difficulty hiring qualified 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.
provides a service supporting all types of employment. It provides an end-to-end platform, from staff member onboarding and continuous management to worldwide payments and. It assists business with labor law compliance in the jurisdictions in which they operate, uses management of work benefits, and guarantees information 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 technology space in international.
papaya this webcast has 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 questions throughout the webcast please click on 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 make certain 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 presentation hey there and thank you for joining us today we’re enjoyed have you here as we start a journey of information to policy accomplishing
360 degree worker compliance where we’ll dive into the important elements of the staff member compliance management design throughout the session we’ll explore real world challenges real local guidelines best practices and the function of Automotion in simplying compliance journey be prepared to emerge in a detailed understanding of how to protect your organization and workers while remaining certified in an
Ever progressing regulative environment in the everchanging world of company and financing guaranteeing compliance with payroll guidelines is not just essential however also a legal vital from the minute of hiring to the in intri complexities even sorry of termination every step along the employee journey is Frau with compliance risks that have significant repercussions however with a much deeper more nuanced understanding of their responsibilities companies can not just navigate the detailed landscape but also proactively guarantee this 360 degree compliance the webinar is created to equip you with the understanding and tools required to navigate the complex Terrain of compliance whether you’re a seasoned P expert a small company owner or somebody brand-new to the field what I wish to do before we start and I believe it’s really crucial
In our mission to boost efficiency and precision in handling our worldwide labor force, our multinational corporation turned to, a leading and workforce management software. The shift intended to streamline the complex task of managing throughout numerous nations, currencies, and compliance guidelines.
Among the standout features of is its robust compliance management system. The software application instantly updates itself to comply with ever-evolving tax and labor laws throughout multiple jurisdictions. This has been vital in making sure that our procedures stay certified in each nation of operation.
is to state that the material here is not legal advice it is simply for your details please consult your legal team must you have any concerns or concerns in relation to anything that we’ve discussed today our secret take essential takeaways by the end of the webinar will be an understanding of worker compliance dangers how to hire ly with confidence how to streamline information management and automation so let’s take ourselves a minute to familiarize ourselves with the webinar platform once again as we’ve.
serve as your hris or is kind of your core staff member record um to handle that employee life process throughout their Journey with you as as an employee in addition to a payroll module we need to assist you pay those staff members and compensate them and benefits Administration module that allows you to assist manage the advantages you offer to your staff members so truly delighted to be here represent um bamb booy container and talk about this topic um and I think from my point of view I’ll I’ll probably offer a lot of a focus on the US side of things when we discuss type of compliance so delighted to be here thanks for having me Ian fine thanks Greg um Gina over to you would you like to introduce yourself and tell the audience a bit about papay worldwide yes definitely thank you Ian hey there everybody I’m Gina dorelis I’m the Employment expert manager.
at I manage the work Council in the United States APAC EMA and Israel region I also work as us Council for I’m certified in New york city and New Jersey um we make sure compliance onboarding and offboarding of workers with regard to papaya we supply payroll payments and workforce management as a Service labor force company to workers serving in over.
160 countries okay 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 actually great to in fact see in the webinar chat where everybody’s actually participating in from today I can see that we have people in Las Vegas and Indiana already so if you want to continue tell where you are that would be definitely great whilst we just wait for everybody else to type of like participate in there we go Chicago too well um so whil we’re doing that I’m awaiting everybody to type of join I’ll simply run us through the program um today we are going to go over working with Talent brand-new higher Details 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 coming from absolutely everywhere which is wonderful so uh I’m hoping that we’re actually going to have some actually great commentary and questions throughout the uh the webinar as well okay so that’s the agenda 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 Auto Enrolment Letters diverse without fail and an.
Ever progressing relationship that begins the minute a person joins an organization it continues throughout their employment and Beyond this journey can be divided into k to a number of essential phases whilst we’re really you know that they’re employed with us so on boarding everyday operations payment and advantages expert advancement then we get to the offboarding and even advocacy so it even takes place after the employee has actually left your work throughout the journey companies are accountable for collecting saving safeguarding employee data in compliance with information privacy guidelines no matter where it is you’re operating around the world it often involves executing secure information management systems and guaranteeing stringent adherence to local requirements to safeguard both the employee and the organization the advancement of worker data and management c.