A CFO’s Viewpoint on How To Furlough Employees On Papaya Global…
Papaya Global’s platform enhances worldwide labor force management for companies, making sure compliance with regional guidelines and tax laws. Their services incorporate payroll processing, benefits administration, compliance oversight, time and presence tracking, and HR assistance. The platform centralizes international payroll operations, providing businesses with real-time insights and control. Founded in 2016, Papaya Global has expanded to Tel Aviv, New York City, London, and Kiev.
In the dynamic landscape of international business operations, managing payroll throughout borders can be a complex and tough job. As the Chief Financial Officer (CFO) of an international company, I comprehend the crucial value of effective and compliant payroll management. In our pursuit of quality, we have actually accepted ingenious options to simplify our processes, and one such transformative tool is Software.
The Difficulty of International Payroll:
International growth produces varied difficulties, and payroll management is no exception. Differing tax policies, differing work laws, and numerous currencies make it crucial for organizations to embrace advanced services to ensure accuracy, compliance, and effectiveness in payroll processing.
Software application: A Comprehensive Solution:
staff members so it’s really essential to ensure that you have actually considered from the start any post-termination constraints that you wish to take into the agreement of employment that they’re enforceable so that indicates you require to actually think about what it is you’re looking to protect and why clearly Define what’s included within the scope of that confidential information and address the period of constraint post-determination that you want to apply and be actually able to to validate that in relation to copyright the position truly depends upon the kind of copyright you’re wanting to safeguard and likewise the jurisdiction so for instance from a copyright point of view in the Netherlands the end client is most likely to have the um intellectual property rights in a copyright that the workers produced who’s been under their guidance and control immediately nevertheless in somewhere like Poland for example that automated right might not be there and that assignment would need to stream through the chain uh contractually so it actually depends on the jurisdiction and the type of IP fine thank you Elizabeth Steve was remaining on the topic of contracts Miss classified misclassifying staff members
Papaya Global Software has become a game-changer in the world of international payroll management. Its cloud-based platform integrates payroll, labor force management, and employee benefits into a single, user-friendly interface. As the CFO, I have witnessed firsthand the favorable impact of on our organization’s financial operations.
Unified International Payroll Processing:
enables our business to procedure payroll effortlessly across multiple countries. The platform’s unified approach permits consistent payroll calculations, decreasing mistakes and guaranteeing compliance with regional guidelines. This has actually significantly mitigated the risks connected with global payroll processing.
likewise crucial for if in the future someone says misclassification you have your file supported by the requisite documents and that the best examination tools to reveal somebody that you had a thoughtful procedure therefore what do you need to include because process it’s the who the what the where and the when who are you handling are you dealing with an individual or are you dealing with a personal Service Corporation and how are they operating what are they doing is it the kind of work that lends itself more to being an independent contractor than a worker so for instance accounting
I.T engineering the creatives these all lend themselves more to that evaluation of being freelancer you understand likewise uh where are they doing it can they work from anywhere or do they need to be on website and handled once again another key aspect is the management and supervision of the uh employee and after that finally when is it a particular job is it a six-month job six years all of this is manageable but it needs to be recorded and it has to be completely um examined so we have a tool we call it ic2 we had an ic1 and we’ve improved it this year so that we can roll it out worldwide these tools take a survey list for the worker the employee fills out and fills these concerns out therefore does the end customer or the recipient of the services they both put their info into the tool and after that it does an evaluation waiting the various concerns since not every jurisdiction has the very same sensation about some of these questions some believe they’re more crucial than others and it comes out with a red yellow or green red you’re probably an employee yellow you’re on the cusp we can most likely assist you with that in terms of a few of the important things you require to bolster to make certain that you are given that evaluation of uh independent specialist or green where you were assessed as an as a independent contractor once that evaluation is done all the requisite documents are below it so that if later on there
Navigating the intricacies of international work laws and tax guidelines can be overwhelming. Papaya Global’s automated compliance engine keeps our organization up-to-date with modifications in guidelines across jurisdictions. This ensures that our payroll procedures stick to the current standards, reducing the threat of non-compliance and associated penalties.
network of In-House outside consultants accounting companies and legal companies who assist us keep our databases totally up to date and we also contact we need to when we see an uncommon or or particularly complex circumstances all right thanks Steve I can just see a fast question in the Q a window yes the session will be tape-recorded and sent out to attendees later on um returning to to the webinar itself Ray company of record is regulated in a different way worldwide and the German law for example it’s classed as worker leasing can you shed any light on a few of the unique factors to consider for countries and where the eor design isn’t regulated yes Ian employee leasing or labor leasing as it’s likewise called which is prevalent in several nations especially in Europe enforces stringent guidelines on products such as the length of project it also appoints employees to collective bargaining agreements that gives them rights and benefits however even in the nations that do not have those rigorous policies for instance the UK Canada and the nordics there are regulations for each nation and each worker is dealt with the like all the other workers in that country and all those policies need to be complied with fine thank you Ray um Kathy moving I would say to yourself what do companies require to consider when figuring out agreement status to protect themselves and the rights of hires what are the pros and cons of working with professionals and Freelancers versus long-term workers so certainly the the advantage of contractors versus staff members is the the versatility for both the worker and for the employer um but I can’t stress enough how important it is to have a consistent thorough and a well-documented compliance
How To Furlough Employees On Papaya Global and Time Savings:
The software’s automation abilities have considerably minimized the time and effort required for payroll processing. Manual information entry and recurring jobs have actually been lessened, permitting our finance team to concentrate on strategic initiatives instead of administrative burdens. This has resulted in increased efficiency and performance within our monetary operations.
in one given that each state has its own regulations Californians are some of the most rigorous an example is pay slips on a payslip in California the ideal info needs to be on the payslip in the ideal format and in the best position if you remain in breach of of guidelines for payslips the fines are issued per payslip so that’s each worker each pay slip will sustain a great thanks Ray thank you Elizabeth a lot to stress to think of and we’re just 2 concerns in and 10 minutes or two working with in one nation is hard enough but when employing in a you know on an international level it’s a totally various story you require to ensure that you’re up to date with present in addition to pending local labor laws Steve um how do you ensure and guarantee that the people 2.0 team is on top of an ever-changing landscape and that your clients are totally supported and I’ll organize this into three key things we do in first and foremost you require to have the ideal team so we hire a team of international specialists in Work Practices um that ex that team of experts includes legal representatives it includes payroll experts it consists of HR specialists and these are individuals that not just understand the laws in these in these countries and regions however they likewise know the languages they understand the regional practices they understand the cultures and it’s important to have that best team and really have the team on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global offers thorough real-time analytics and reporting tools. As a CFO, having access to accurate and prompt financial data is important for decision-making. The platform’s reporting abilities empower me to make educated strategic choices based upon real-time insights into our international payroll information.
application and its scope and the way that it applies to work law in practice can be tested through the judicial system by way of case law examples of that would be the obtained rights instruction otherwise called the 2p regulations in the UK the working time regulations which has had various strands of that legislation tested particularly around vacation pay and of course as Kathy’s going to come on to talk about later work status which there’s been numerous precedence set for many years so I think it’s really that consistent evolution of the employment law landscape that you actually need to browse when when operating in Europe alright thank you Elizabeth Ray what about you from your personal experience while moving across the pond as pointed out each country has various guidelines but the United States is essentially 50 nations
Scalability for Organization Growth:
Among the standout functions of Papaya Global is its scalability. As our company continues to grow and expand into new markets, the software seamlessly accommodates modifications in our workforce and payroll requirements. This scalability guarantees that our payroll facilities can adjust to the evolving needs of our global organization.
Global Chief legal officer we’ve got Elizabeth Beal who is our chief legal officer for Amia and we’ve got Ray Glimpse who is our senior vice president of customer service and I would state separately and collectively these 3 individuals have Years of experience in in work law and global Employment Practices so thank you it’s an enjoyment to be with everyone here today seems like we’ve got the right people with us today and in in addition to to those well we likewise 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 company for around four and a half years as head of Collaborations I have established Papaya’s network of in-country Partners in over 160 locations on a personal element and related to our subject today I’ve had the opportunity to relocate and work in three various nations it is the company’s responsibility to guarantee my protection while residing in a foreign country compliance with regional laws and policies is essential for me or anybody else as an expat or as a regional so today we have invited our relied on Partners people 2.0 to show the value of regional
know-how when business Go Global thank you and enjoy fine thank you as I said let’s proceed to the pact agenda today’s webinar is a chance to ask the panel the concerns you have actually been thinking of we’ll talk about the realities a company needs to think about when opening a new entity and expanding into brand-new countries along with keeping things going we’ll cover elements such as local regulations factors to consider when employing compliance essential difficulties payments and what not to do it is among the most important things remembering what not to do um operating on a worldwide level is not for the faint-hearted the bigger a company grows the more they need to comprehend and handle understanding what to do in each new situation as it rises is essential on many levels comprehending local guidelines and local laws in addition to service practices helps mitigate Associated and worldwide growth papaya through our local specialists can navigate possible threats such as intellectual property protection information personal privacy security concerns ensuring the business’s operations remain certified and protected tax Social Security returns and remittances vary by nation
In conclusion, Papaya Global Software application has actually proven to be an important asset in our mission for efficient and certified worldwide payroll management. As the CFO of an international company, I am confident in recommending Papaya Global to companies looking for to improve their payroll procedures, enhance compliance, and achieve higher performance in handling their global labor force. The software’s ingenious functions and dedication to excellence align with our tactical objectives, making it an essential part of our monetary operations.
openly revealed and it was 100 million dollar settlement that Uber made with the state of New Jersey one state in addition to the openly announced settlements there’s also substantial legal expenses there’s there’s other penalties there’s other expenses behind that too so the overall cost can be really significant in the tens of millions of dollars or more and and those amounts are growing uh the reason companies are getting it so wrong is actually simply the rules are intricate and they’re changing all the time believe ir-35 in the UK which has actually been an ongoing advancement for a number of years now and and still a great deal of unpredictability amongst business on what it really suggests and how you handle it most companies are simply not familiar with the guidelines and and act as if the the rules are the same everywhere which they’re not so so encourage you to to be really proactive as you’re engaging uh workers from a category viewpoint all right thank you Stephen and moving back to yourself Ray it’s not only the company that suffers in the long run what impacts can this have on the employee How To Furlough Employees On Papaya Global especially when it concerns their own tax liabilities social security and advantages for example jury and clearly the workers the opposite of the coin
I discover time and time again the employees typically misclassified unconsciously they do not understand the conditions of work or contract and are informed by the customer why it’s most advantageous generally to the customer why you need to be utilized or participated in this fashion the worker may owe taxes and Social Security to the authorities the future pension and healthcare privileges of the worker can be affected and several times it can be years before this all falls out and by that time it’s far too late years have gone by they have not contributed to pensions Etc so it’s a big impact that they never understood they were strolling into you couldn’t agree with you more if you say the UK for example hmrc can go back as much as ten years um Kathy business are securing insurance coverage versus misclassification however normally premiums are only covering the cost of legal costs whilst the average claim evaluated versus employers relates to to 40 or half of the base salary of employee exists any point in getting insurance coverage and what is the alternative yeah to your point um you do require to read the fine print it is not covering the taxes charge and interest in most cases I have not seen it at least 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 stuff you could be denied coverage on the basis of the reality that you were not in compliance with laws um in the UK
Expense Factors to consider and How To Furlough Employees On Papaya Global …
The extensive features of come at an expense,
Recent decades have actually seen a remarkable modification to the workforce as the increase of remote work has actually broken down geographical barriers to employing. Organizations can now hire personnel from anywhere worldwide, allowing them to access the very best offered talent for any provided function. This provides workers more liberty to work from home and increase their earnings without moving to pricey areas or travelling cross countries. A 2022 study discovered that 87% of workers who have the opportunity to work from another location take that opportunity. The outbreak of COVID-19, in conjunction with brand-new enterprise connectivity software application, sped up the transfer to remote work, consisting of in industries previously hesitant to embrace the trend.
insights are valuable to us and and your fellow participants so first things initially though um let’s be familiar with everyone my name is Ian Charles and I have actually worked in payroll for the last 25 years I have actually had functions in all sort of Industries retail and Beauty to Aerospace in all types of services startup to matrixed environments across the globe I provided leadership and strategy 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
International I work across business man maning and constructing external relationships supporting Business customers and options and functioning as an advisor I wish to introduce our very first Greg um visitor 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 said my name is Greg Piper uh I am the senior business counsil at bambo HR so I lead our internal legal group and really work extremely closely with our um HR department too to deal with various legal and HR matters that show up so actually delighted to be here about bambo HR if if you’re not knowledgeable about us uh at bambo HR we state our mission is to set you as HR professionals totally free to do excellent
While Papaya Global offers integrations with numerous HR and financing systems, the implementation procedure was not without difficulties. Incorporating the software with our existing facilities required extra personalization, causing some hold-ups in the initial rollout.
Paying FAQs How To Furlough Employees On Papaya Global 2024
and some smaller subsidiaries within our organization found the prices to be on the higher side. As a global business, stabilizing the need for innovative functions with spending plan restraints ended up being a delicate workout.
Customer Support Action Time:
There were instances where our groups dealt with issues that required prompt support. However, the reaction time from’s consumer assistance team was not always as quick as preferred, causing periodic hold-ups in issue resolution.
Our implementation of involved a phased method. We started by onboarding a few subsidiaries to evaluate the system’s compatibility with our existing processes. This permitted us to determine and address integration obstacles early on. As the software application became more instilled in our operations, we gradually expanded its use to cover our entire worldwide labor force.
The automated features structured our payroll procedures, reducing the time spent on manual calculations and compliance tracking. Routine training sessions and ongoing support from Papaya helped our teams become skilled users of the software, maximizing its potential for our company.
Business that worker workers throughout multiple nations frequently deal with complex obstacles when it concerns handling their labor force. Among the biggest difficulties is combining different data streams and sticking to varied regional and nationwide labor policies, which can be both time-consuming and pricey. Moreover, setting up regional entities in brand-new regions can be a pricey and suboptimal option, with alternatives such as opening a foreign subsidiary or working with an expert work company (PEO) often charging up to 15% of the payroll. These challenges have actually caused a significant increase in problem hiring qualified workers, with 75% of employers reporting this concern in 2022, a 21% boost from 2019. The payroll and HR services market, valued at $26.4 billion in 2022, is anticipated to reach $50.4 billion by 2030.
offers an option supporting all forms of work. It provides an end-to-end platform, from staff member onboarding and ongoing management to international payments and. It helps companies with labor law compliance in the jurisdictions in which they operate, provides management of employment advantages, and makes sure data 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 workforce management. She co-founded after seeing the innovation gap in international.
papaya this webcast has been pre-approved for hrci and Sherm credit please make certain to go to the total webcast in order to receive 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 browser with the webcast survey please make certain to finish it as quickly as the webcast has actually 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 embark on a journey of data to guideline achieving
360 degree worker compliance where we’ll dive into the vital aspects of the worker compliance management design throughout the session we’ll check out real life difficulties genuine regional regulations finest practices and the function of Automotion in simplying compliance journey be prepared to emerge in an extensive understanding of how to protect your organization and staff members while staying certified in an
Ever evolving regulative environment in the everchanging world of business and financing ensuring compliance with payroll regulations is not only crucial but likewise a legal important 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 effects however with a deeper more nuanced understanding of their responsibilities companies can not only navigate the detailed landscape but also proactively guarantee this 360 degree compliance the webinar is developed to equip you with the knowledge and tools needed to navigate the complex Surface of compliance whether you’re a seasoned P professional a small company owner or someone brand-new to the field what I want to do before we begin and I think it’s really important
In our mission to improve efficiency and accuracy in handling our international workforce, our multinational corporation turned to, a leading and workforce management software. The shift intended to streamline the complex job of managing throughout different countries, currencies, and compliance guidelines.
One of the standout features of is its robust compliance management system. The software automatically updates itself to stick to ever-evolving tax and labor laws throughout numerous jurisdictions. This has been indispensable in ensuring that our processes stay certified in each country of operation.
is to state that the material here is illegal guidance it is just for your details please consult your legal team needs to you have any concerns or issues in relation to anything that we’ve discussed today our secret take crucial takeaways by the end of the webinar will be an understanding of worker compliance risks how to work with ly with self-confidence how to streamline data 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 worker life cycle throughout their Journey with you as as a worker in addition to a payroll module we need to help you pay those workers and compensate them and benefits Administration module that allows you to help handle the benefits you provide to your employees so really thrilled to be here represent um bamb booy container and speak about this subject um and I think from my point of view I’ll I’ll probably supply a great deal of a concentrate on the United States side of things when we talk about sort of compliance so delighted to be here thanks for having me Ian okay thanks Greg um Gina over to you would you like to present yourself and tell the audience a bit about papay international yes definitely thank you Ian hi everyone I’m Gina dorelis I’m the Work expert supervisor.
at I handle the employment Council in the US APAC EMA and Israel area I also function as us Council for I’m accredited in New york city and New Jersey um we ensure compliance onboarding and offboarding of workers with regard to papaya we provide payroll payments and workforce management as a Service labor force supplier to employees 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 intro so it’s actually truly nice to really see in the webinar chat where everybody’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 inform where you are that would be absolutely fantastic whilst we just await everybody else to kind of like participate there we go Chicago also well um so whil we’re doing that I’m waiting for everybody to kind of join I’ll simply run us through the agenda um today we are going to discuss employing Skill brand-new greater Information Management termination compliance and automation wow the chat has got truly truly busy 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 in fact going to have some actually terrific commentary and concerns throughout the uh the webinar too fine so that’s the program then what I ‘d like to Now cover is the the compliance and the Privacy side of things so the the Journey of an employee and their information is How To Furlough Employees On Papaya Global complex without fail and an.
Ever evolving 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 several essential stages whilst we’re really you understand that they’re employed with us so on boarding everyday operations settlement and benefits expert advancement then we get to the offboarding and even advocacy so it even happens after the worker has actually left your work throughout the journey companies are accountable for gathering saving protecting staff member information in compliance with information personal privacy guidelines no matter where it is you’re operating worldwide it often includes carrying out safe information management systems and making sure stringent adherence to regional requirements to safeguard both the employee and the company the development of employee information and management c.