Payroll and payments run smoothly …Papaya Global Payroll Certification Bronze
if they count on the needed several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges service face when they’re making payments to staff members or otherwise that’s a good question I constantly throw this back and state what is it what doesn’t need to be consisted of best and what does
it require to be considered there’s varying Bank details so the length of an eye band a swift an account number routing code per country there’s payment amount of time 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 consumer’s own in-country account so there’s intricacy anywhere you look ideal ultimately constructing a knowledge base is definitely crucial but everywhere you look with payroll payment they are like extremely payments no if but some children about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it’s closer than ever I believe there’s now a bit more acknowledgment that payroll payments are absolutely essential and technology is enabling 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 Savings account Particulars varying banking requirements and setup processes is definitely necessary that payroll and financing teams work better together than ever um I’m constantly impressed when individuals state I’ve divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn’t work in the payroll profession would they split the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um ultimately it’s payroll is an end-to-end procedure it’s the point of data collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more essential to add to kind of the level of complexity there’s a growing number of benefits being organ or being offered by services across the world so once again you’re just aiming to add increasingly more payments to this currently complex landscape so if you type of got any experience well I’m from your large experience here and I make certain but have you got any experience in kind of real obstacles or genuine difficult kind of pay utilizes to play to pay individuals I believe yeah I suggest over the last well yeah a couple of years I would absolutely state that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are teams feeding information into the next function as it were that’s in fact managing the payment side of things however you understand in in my viewpoint and my experience that doesn’t 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 operate in they just make them more prompt they make them less efficient and they do not make them what they require to be in in an age of tech and a period that you understand that we are working in today there is no reason we are still making this as difficult as it requires to be concurred and rightly as you stated payroll is the single greatest liability that any organization has from an expense perspective from an impact point of view on employees 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 need to be done right it has the most significant detrimental result on people’s wellness and many other aspects if people aren’t paid uh I have actually constantly been astonished entering this Market kind of the last 5 to 10 years is how little thanks the
payroll team get um so I’m unsure anyone on this kind of webinar has actually been told thank you for processing my payroll properly if you have it ‘d be great to hear your success story and whether that’s been from all staff members or not um but ultimately payroll is such an essential cycle we all become aware of it when it fails everyone jumps up and down when it goes wrong but when it goes right it’s just a tick box exercise and I believe that’s how it’s seen from the external consider as well um so yeah it’s also like why WI-Fi Global why all of this stuff is definitely crucial that all of this stuff is done properly so leveraging the first Worldwide Payments first payroll payment option is a terrific first step um providing an end-to-end payroll solution for your employees globally once again I think is another huge um procedure once again lining up and ensuring you have standardization Worldwide processes all of those things are absolutely crucial to success success of organizations and decreasing the number of tools platforms and bank accounts they require 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’ve never ever 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 problems where things haven’t gone quite where they’re suggested to be um I do not believe any of us are in fact doing that for for the thanks
anyway we understand how how essential a role 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 everybody that’s associated with those processes and also so think of sorry I’m just I was just gon na state envision the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we’re discussing hundreds of thousands potentially Millions think of getting that many thank you keeps in mind um I mean it ‘d be interesting to see the number of Post-it notes you got but it would definitely be an interesting task attempting to clean up all those up for sure oh absolutely I can’t picture the size of my my Outlook inbox if that held true um you ‘d require days of the week to attempt to look through them and really see what was going on and sort of try to get back to everyone so carrying on look why do business select to primary separate checking account there are businesses out there doing exactly this for specific countries and I have actually operated in a business or numerous organizations doing precisely that I can state it does not always feel efficient and it does develop more work I know we’re not deliberately doing that we’re not producing additional work for anyone where we don’t have to and any person that’s dealing with that procedure I ‘d be interested to hear your thoughts 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 standard I believe people have got so used to we require a brand-new bank account we open an entity and rightly so you require it for payroll purposes but there are a number of markets where it’s not a requirement so I think it’s just been the standard and the standard the people have actually embraced and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and numerous other methods um to to sort of do it so I think there’s a range I think this is a process that requires looking at it needs changing however ultimately individuals are very stuck to what they recognize
with ideal um change is a tough thing all of us do not like change um so I believe it’s just sort of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I comprehend clearly the advantages of having maintaining multiple bank accounts however there’s a huge quantity of complexity goes with setting up a bank account maintaining it guaranteeing it can send International transfers ensuring it’s established with the ideal user accesses for private people so the intricacy is substantial but I think the sincere answer is modification um people haven’t been able to change or have not had always the understanding to really make that change into alternate Solutions aside from opening a bank account I believe you’ve struck the nail on the head I believe it is understanding you know and there is a component of resistance to alter but we’ve always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you know what could practically be identified to be the next Century approximately there is a lot to track and this method does posture a number of difficulties um so Johnny could you inform
Expense Considerations and Papaya Global Payroll Certification Bronze …
The detailed functions of come at an expense,
Current years have seen a remarkable modification to the labor force as the increase of remote work has broken down geographical barriers to employing. Organizations can now employ personnel from anywhere worldwide, enabling them to access the very best offered talent for any offered function. This provides employees more freedom to work from home and increase their income without relocating to pricey locations or commuting long distances. A 2022 survey discovered that 87% of employees who have the opportunity to work from another location take that chance. The outbreak of COVID-19, in conjunction with new business connectivity software application, accelerated the relocate to remote work, consisting of in industries previously reluctant to accept the trend.
insights are valuable to us and and your fellow guests so first things initially though um let’s be familiar with everyone my name is Ian Charles and I have actually operated in payroll for the last 25 years I’ve had functions in all type of Industries retail and Beauty to Aerospace in all kinds of services start-up to matrixed environments across the globe I supplied leadership and strategy to populations of more than 100,000 staff members on a regular monthly basis and in over 170 countries today I’m the perel strategist for papaya
Global I work across business guy maning and building external relationships supporting Enterprise clients and solutions and functioning as an advisor I want to present our first Greg um visitor 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 corporate counsil at bambo HR so I lead our internal legal team and in fact work very carefully with our um HR department too to deal with numerous legal and HR matters that show up so really excited to be here about bambo HR if if you’re not acquainted with us uh at bambo HR we say our mission is to set you as HR professionals totally free to do terrific
Although Papaya Global offers integrations with different HR and finance systems, we came across some hurdles during the combination process. Tailoring the software application to align with our existing facilities showed to be more complicated than prepared for, resulting in hold-ups in the preliminary rollout.
The substantial functions provided by Papaya Global come at an expense, which some of our smaller sized subsidiaries discovered to be prohibitively costly. As a global organization, we needed to carefully weigh the need for sophisticated functionality versus budget plan constraints.
Assistance Response Time:
On occasion, our teams experienced problems that needed urgent assistance. Nevertheless, the response time from Papaya Global’s consumer support team was not constantly as prompt as we would have liked, leading to delays in dealing with those concerns.
Our implementation of involved a phased technique. We began by onboarding a couple of subsidiaries to test the system’s compatibility with our existing processes. This allowed us to identify and resolve integration obstacles early on. As the software application became more implanted in our operations, we gradually broadened its use to cover our whole worldwide workforce.
The automated functions structured our payroll processes, lowering the time invested in manual computations and compliance tracking. Regular training sessions and continuous assistance from Papaya helped our teams end up being proficient users of the software, maximizing its potential for our company.
However, paying a workforce can be complex. It is especially challenging for business who use personnel across multiple nations, as they should continuously consolidate different information streams, manually track local and nationwide labor and regulations, and invest important time and resources to establish regional entities in new areas. These companies are faced with suboptimal, costly choices, like opening a foreign subsidiary or working with an expert employment organization, which is a local firm that hires workers on their behalf and can charge up to 15% of. By 2022, 75% of employers reported difficulty hiring qualified workers, a boost of 21% from 2019. The payroll & HR services market was valued at $26.4 billion in 2022 and is predicted to reach $50.4 billion by 2030.
uses a service supporting all types of work. It supplies an end-to-end platform, from employee onboarding and ongoing management to global payments and. It assists business with labor law compliance in the jurisdictions in which they operate, offers management of work benefits, and guarantees data 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 expert in payroll and workforce management. She co-founded after seeing the innovation space in worldwide.
papaya this webcast has actually been pre-approved for hrci and Sherm credit please be sure to go to the total webcast in order to get your credits if you have any questions 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 web browser with the webcast study please make certain 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 discussion hi 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 vital aspects of the staff member compliance management design throughout the session we’ll explore real world obstacles genuine local policies 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 employees while remaining compliant in an
Ever evolving regulative environment in the everchanging world of organization and finance ensuring compliance with payroll policies is not just crucial but also 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 risks that have far-reaching effects however with a deeper more nuanced understanding of their obligations organizations can not only navigate the intricate landscape but also proactively guarantee this 360 degree compliance the webinar is designed to equip you with the knowledge and tools essential to browse the complex Terrain of compliance whether you’re a skilled P expert a small business owner or someone new to the field what I want to do before we begin and I believe it’s actually essential
In our mission to boost performance and accuracy in managing our international workforce, our multinational corporation turned to, a leading and labor force management software application. The transition aimed to streamline the complex task of handling throughout various nations, currencies, and compliance regulations.
Among the standout features of is its robust compliance management system. The software application automatically updates itself to follow ever-evolving tax and labor laws across multiple jurisdictions. This has been vital in guaranteeing that our procedures remain compliant in each country of operation.
is to state that the material here is illegal guidance it is just for your information please consult your legal team should you have any concerns or concerns in relation to anything that we have actually gone over today our key take crucial takeaways by the end of the webinar will be an understanding of employee compliance risks how to employ 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 worker record um to handle that staff member life cycle throughout their Journey with you as as a staff member in addition to a payroll module we have to assist you pay those staff members and compensate them and advantages Administration module that enables you to assist manage the advantages you provide to your workers so truly delighted to be here represent um bamb booy container and discuss this subject um and I think from my point of view I’ll I’ll most likely provide 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 alright thanks Greg um Gina over to you would you like to introduce yourself and tell the audience a little 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 employment Council in the US APAC EMA and Israel area I also act 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 supplier to workers serving in over.
160 nations alright thank you so both I feel completely underqualified sitting here with you both well I forgot to discuss as we were sort of like going through the introduction so it’s actually really good to really see in the webinar chat where everybody’s really participating in from today I can see that we have people in Las Vegas and Indiana already so if you wish to carry on inform where you are that would be absolutely fantastic whilst we simply wait for everybody else to kind of like participate there we go Chicago as well well um so whil we’re doing that I’m awaiting everybody to kind of join I’ll just run us through the agenda um today we are going to discuss employing Talent new higher Details Management termination compliance and automation wow the chat has actually got really truly hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from absolutely all over which is fantastic so uh I’m hoping that we’re actually going to have some actually terrific commentary and questions throughout the uh the webinar too fine so that’s the program then what I want to Now cover is the the compliance and the Personal privacy side of things so the the Journey of a worker and their data is Papaya Global Payroll Certification Bronze complex without fail and an.
Ever developing relationship that starts the moment an individual signs up with a company it continues throughout their work and Beyond this journey can be divided into k to a number of key stages whilst we’re in fact you understand that they’re employed with us so on boarding day-to-day operations compensation and advantages expert development then we get to the offboarding and even advocacy so it even takes place after the employee has left your work throughout the journey companies are accountable for collecting saving 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 executing secure information management systems and guaranteeing rigorous adherence to local requirements to secure both the employee and the company the evolution of employee information and management c.