A CFO’s Viewpoint on Shift Planner That Links Witj Papaya Global…
The platform makes it possible for companies to handle their international labor force and adhere to regional employment guidelines and tax laws. Papaya Global uses a range of services, consisting of payroll management, advantages administration, compliance management, time and participation tracking, and HR management. The platform is designed to simplify the intricacies of international payroll and provide real-time visibility and control over payroll operations. The company was founded in 2016 and is headquartered in Tel Aviv, Israel, with workplaces in New york city, London, and Kiev.
In the vibrant landscape of worldwide service operations, handling payroll across borders can be a complex and tough task. As the Chief Financial Officer (CFO) of a global business, I understand the crucial importance of effective and compliant payroll management. In our pursuit of quality, we have accepted ingenious options to simplify our procedures, and one such transformative tool is Software.
The Difficulty of Global Payroll:
International growth produces diverse challenges, and payroll management is no exception. Differing tax policies, differing work laws, and multiple currencies make it imperative for organizations to adopt sophisticated options to ensure precision, compliance, and performance in payroll processing.
Software application: A Comprehensive Option:
employees so it’s truly fundamental to ensure that you have actually considered from the outset any post-termination constraints that you wish to take into the agreement of employment that they’re enforceable so that suggests you need to truly think about what it is you’re aiming to secure and why clearly Specify what’s included within the scope of that secret information and attend to the period of limitation post-determination that you want to apply and be truly able to to justify that in relation to intellectual property the position really depends upon the kind of intellectual property you’re seeking to secure and also the jurisdiction so for instance from a copyright viewpoint in the Netherlands completion client is most likely to have the um copyright rights in a copyright that the workers produced who’s been under their guidance and control instantly nevertheless in somewhere like Poland for instance that automatic right may not be there which project would need to flow through the chain uh contractually so it truly depends on the jurisdiction and the type of IP alright thank you Elizabeth Steve was remaining on the topic of agreements Miss classified misclassifying workers
Papaya Global Software has emerged as a game-changer in the world of global payroll management. Its cloud-based platform integrates payroll, labor force management, and employee benefits into a single, easy to use interface. As the CFO, I have actually seen firsthand the positive impact of on our organization’s financial operations.
Unified Global Payroll Processing:
allows our business to process payroll perfectly throughout several countries. The platform’s unified approach enables constant payroll computations, minimizing mistakes and ensuring compliance with local guidelines. This has actually significantly reduced the risks associated with worldwide payroll processing.
likewise essential for if in the future someone says misclassification you have your file supported by the requisite documents and that the ideal evaluation tools to reveal somebody that you had a thoughtful procedure and so what do you have to consist of because procedure it’s the who the what the where and the when who are you dealing with are you handling 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 provides itself more to being an independent contractor than an employee so for instance accounting
I.T crafting the creatives these all lend themselves more to that evaluation of being freelancer you know 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 essential aspect is the management and guidance of the uh worker and after that finally when is it a particular task is it a six-month project 6 years all of this is workable but it has to be recorded and it needs to be completely um investigated so we have a tool we call it ic2 we had an ic1 and we have actually improved it this year so that we can roll it out internationally these tools take a questionnaire list for the worker the employee completes and fills these questions out therefore does completion client or the recipient of the services they both put their details into the tool and after that it does an evaluation waiting the different questions because not every jurisdiction has the same sensation about a few of these concerns 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 some of the things you require to strengthen to ensure that you are considered that evaluation of uh independent professional or green where you were evaluated as an as a independent professional once that evaluation is done all the requisite files are beneath it so that if later on there
Navigating the complexities of global employment laws and tax regulations can be overwhelming. Papaya Global’s automated compliance engine keeps our company updated with modifications in policies across jurisdictions. This ensures that our payroll procedures comply with the current standards, minimizing the threat of non-compliance and associated penalties.
network of In-House outside consultants accounting companies and legal firms who help us keep our databases entirely approximately date and we also contact we require to when we see an unusual or or especially intricate situations fine thanks Steve I can simply see a fast question in the Q a window yes the session will be taped and sent out to participants afterwards um moving back to to the webinar itself Ray company of record is controlled differently around the globe and the German law for example it’s classed as staff member leasing can you shed any light on some of the unique factors to consider for nations and where the eor design isn’t regulated yes Ian employee leasing or labor leasing as it’s likewise called which is prevalent in numerous countries specifically in Europe enforces stringent policies on items such as the length of task it also appoints workers to collective bargaining contracts that provides rights and advantages however even in the nations that do not have those stringent regulations for example the UK Canada and the nordics there are regulations for each nation and each worker is dealt with the like all the other employees because nation and all those guidelines need to be followed alright thank you Ray um Kathy moving I would say to yourself what do business need to consider when figuring out agreement status to safeguard themselves and the rights of hires what are the pros and cons of employing contractors and Freelancers versus long-term workers so certainly the the advantage of contractors versus staff members is the the flexibility for both the worker and for the employer um but I can’t stress enough how important it is to have a constant extensive and a well-documented compliance
Shift Planner That Links Witj Papaya Global and Time Cost Savings:
The software’s automation abilities have significantly lowered the time and effort needed for payroll processing. Handbook information entry and repeated jobs have actually been minimized, permitting our finance team to concentrate on tactical initiatives rather than administrative problems. This has actually led to increased performance and productivity within our financial operations.
in one given that each state has its own regulations Californians are a few of the most strict an example is pay slips on a payslip in California the ideal details needs to be on the payslip in the ideal format and in the ideal position if you remain in breach of of guidelines for payslips the fines are provided per payslip so that’s each staff member each pay slip will incur a fine thanks Ray thank you Elizabeth a lot to fret to think of and we’re only 2 questions in and 10 minutes or so working with in one nation is hard enough but when employing in a you understand on an international level it’s an entirely different story you need to make sure that you’re up to date with current along with pending regional labor laws Steve um how do you make certain and guarantee that the people 2.0 group is on top of an ever-changing landscape and that your customers are completely supported and I’ll organize this into three crucial things we carry out in primarily you require to have the ideal group so we work with a group of global specialists in Employment Practices um that ex that group of professionals consists of lawyers it includes payroll professionals it includes HR professionals and these are individuals that not just know the laws in these in these countries and areas however they also understand the languages they know the regional practices they know the cultures and it’s important to have that right team and truly have the team on the ground uh dealing with cl
Real-time Analytics and Reporting:
Papaya Global provides detailed real-time analytics and reporting tools. As a CFO, having access to precise and prompt financial data is important for decision-making. The platform’s reporting capabilities empower me to make educated tactical decisions based upon real-time insights into our international payroll information.
application and its scope and the manner in which it applies to work law in practice can be evaluated through the judicial system by way of case law examples of that would be the acquired rights directive otherwise known as the 2p policies in the UK the working time policies which has actually had numerous hairs of that legislation tested particularly around vacation pay and obviously as Kathy’s going to come on to speak about later employment status which there’s been several precedence set throughout the years so I believe it’s actually that continuous development of the work law landscape that you truly require to navigate when when working in Europe all right thank you Elizabeth Ray what about you from your personal experience while moving across the pond as pointed out each country has various policies but the United States is basically 50 countries
Scalability for Business Development:
One of the standout functions of Papaya Global is its scalability. As our business continues to grow and expand into brand-new markets, the software flawlessly accommodates changes in our workforce and payroll requirements. This scalability guarantees that our payroll infrastructure can adapt to the developing needs of our worldwide company.
Worldwide Chief legal officer we have actually got Elizabeth Beal who is our primary legal officer for Amia and we’ve got Ray Glimpse who is our senior vice president of client services and I would say separately and jointly these three people have Years of experience in in work law and worldwide Work Practices so thank you it’s a pleasure to be with everybody here today sounds like we’ve got the right people with us today and in in addition to to those well we also have among our own Stars delete share head of Global Services at papaya International inform us about yourself thank you Elin Ian hey there my name is Elite I have actually been with the business for around 4 and a half years as head of Partnerships I have actually established Papaya’s network of in-country Partners in over 160 locations on an individual aspect and related to our subject today I have actually had the chance to transfer and work in 3 different countries it is the company’s duty to guarantee my security while residing in a foreign nation compliance with local laws and regulations is essential for me or anyone else as an expat or as a local so today we have actually invited our trusted Partners individuals 2.0 to demonstrate the value of local
know-how when business Go International thank you and take pleasure in alright thank you as I said let’s move on to the pact agenda today’s webinar is a chance to ask the panel the concerns you’ve been thinking of we’ll talk about the truths a company needs to consider when opening a new entity and broadening into brand-new countries as well as keeping things going we’ll cover elements such as local regulations factors to consider when hiring compliance crucial challenges payments and what not to do it is among the most crucial things remembering what not to do um operating on a worldwide level is not for the faint-hearted the bigger a business grows the more they need to comprehend and manage knowing what to do in each new circumstance as it increases is important on numerous levels comprehending local policies and local laws as well as organization practices helps reduce Associated and worldwide expansion papaya through our regional specialists can browse potential threats such as copyright security data privacy security issues ensuring the business’s operations remain certified and safe and secure tax Social Security returns and remittances differ by nation
In conclusion, Papaya Global Software has shown to be a vital property in our quest for efficient and compliant international payroll management. As the CFO of a worldwide business, I am positive in advising Papaya Global to companies seeking to improve their payroll procedures, improve compliance, and achieve greater effectiveness in managing their international labor force. The software’s innovative features and dedication to excellence align with our tactical goals, making it an essential part of our financial operations.
I find time and time again the workers typically misclassified unconsciously they do not understand the conditions of work or agreement and are told by the client why it’s most advantageous generally to the client why you should be used or engaged in this style the employee may owe taxes and Social Security to the authorities the future pension and healthcare privileges of the employee can be impacted and several times it can be years before this all falls out and by that time it’s too late years have gone by they have not added to pensions And so on so it’s a huge effect that they never ever knew they were strolling into you couldn’t agree with you more if you state the UK for example hmrc can go back as much as ten years um Kathy business are securing insurance versus misclassification however usually premiums are just covering the cost of legal charges whilst the average claim assessed versus companies relates to to 40 or 50 percent of the base salary of worker is there any point in taking out insurance 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 most of the times I have not seen it at least so uh the the other location that I do believe if you managed to get the protection what we are saying is is that if your compliance program is not up to pack you could be rejected protection on the basis of the reality that you were not in compliance with laws um in the UK
Expense Factors to consider and Shift Planner That Links Witj Papaya Global …
The thorough features of come at a cost,
Over the past few years, the labor force has gone through a substantial improvement with the introduction of remote work, which has eliminated geographical constraints on hiring. This has allowed organizations to recruit skill from all over the world, allowing them to put together the best possible team for each function. As a result, workers have acquired higher flexibility to work from home and increase their revenues without needing to transfer to expensive locations or commute fars away. According to a 2022 survey, 87% of employees who have the option to work from another location select to do so. The COVID-19 pandemic, integrated with developments in enterprise connection software application, has even more sped up the shift towards remote work, even in industries that were at first reluctant to adopt the pattern.
insights are valuable to us and and your fellow attendees so first things initially though um let’s get to know everyone my name is Ian Charles and I have actually operated in payroll for the last 25 years I have actually had roles in all type of Industries retail and Charm to Aerospace in all types of organizations start-up to matrixed environments across the globe I supplied management and strategy to populations of more than 100,000 employees on a regular monthly basis and in over 170 countries today I’m the perel strategist for papaya
Worldwide I work across the business guy maning and building external relationships supporting Enterprise customers and options and serving as a consultant I wish 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 business counsil at bambo HR so I lead our internal legal group and really work really carefully with our um HR department too to handle various legal and HR matters that turn up so actually delighted to be here about bambo HR if if you’re not acquainted with us uh at bambo HR we state our objective is to set you as HR specialists free to do great
While Papaya Global deals integrations with numerous HR and finance systems, the execution process was not without challenges. Incorporating the software application with our existing infrastructure needed additional customization, resulting in some delays in the initial rollout.
Paying FAQs Shift Planner That Links Witj Papaya Global 2024
and some smaller subsidiaries within our company discovered the pricing to be on the greater side. As a global company, stabilizing the requirement for advanced features with spending plan constraints became a fragile workout.
Client Support Reaction Time:
There were circumstances where our groups dealt with concerns that needed prompt help. Nevertheless, the reaction time from’s customer assistance team was not always as fast as preferred, resulting in periodic hold-ups in problem resolution.
Our execution of involved a phased approach. We started by onboarding a couple of subsidiaries to check the system’s compatibility with our existing processes. This permitted us to recognize and deal with combination obstacles early on. As the software ended up being more implanted in our operations, we gradually expanded its use to cover our whole international workforce.
The automated features streamlined our payroll processes, reducing the time spent on manual estimations and compliance tracking. Routine training sessions and continuous assistance from Papaya helped our teams become skilled users of the software, maximizing its potential for our company.
Companies that staff member workers across several nations often deal with elaborate challenges when it concerns handling their labor force. One of the most significant hurdles is combining different information streams and sticking to diverse local and nationwide labor policies, which can be both time-consuming and pricey. Furthermore, setting up local entities in brand-new regions can be an expensive and suboptimal option, with alternatives such as opening a foreign subsidiary or working with an expert work organization (PEO) often charging up to 15% of the payroll. These difficulties have led to a substantial boost in trouble recruiting qualified workers, with 75% of companies reporting this concern 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.
offers an option supporting all kinds of work. It offers an end-to-end platform, from staff member onboarding and continuous 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 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 labor force management. She co-founded after seeing the technology space in global.
papaya this webcast has been pre-approved for hrci and Sherm credit please make sure to participate in the total 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 web browser with the webcast study please make 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 presentation hey there and thank you for joining us today we’re thrilled to 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 elements of the staff member compliance management model throughout the session we’ll check out real world difficulties real regional guidelines finest practices and the role of Automotion in simplying compliance journey be prepared to emerge in an extensive understanding of how to protect your company and workers while remaining certified in an
Ever progressing regulatory environment in the everchanging world of company and finance guaranteeing compliance with payroll policies is not only vital however likewise a legal imperative from the moment of working with to the in intri complexities even sorry of termination every step along the worker journey is Frau with compliance risks that have significant repercussions nevertheless with a much deeper more nuanced understanding of their commitments companies can not only browse the detailed landscape but also proactively guarantee this 360 degree compliance the webinar is designed to equip you with the knowledge and tools required to browse the complex Terrain of compliance whether you’re a skilled P expert a small company owner or someone brand-new to the field what I would like to do before we start and I believe it’s really crucial
In our mission to enhance effectiveness and precision in handling our worldwide workforce, our multinational corporation turned to, a leading and labor force management software application. The transition aimed to streamline the complex task of managing throughout different countries, currencies, and compliance policies.
One of the standout features of is its robust compliance management system. The software instantly updates itself to follow ever-evolving tax and labor laws across multiple jurisdictions. This has actually been indispensable in making sure that our processes remain certified in each nation of operation.
is to state that the content here is not legal advice it is just for your info please consult your legal team must you have any concerns or issues in relation to anything that we have actually talked about today our key take crucial takeaways by the end of the webinar will be an understanding of staff member compliance dangers how to employ 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 have actually.
function as your hris or is kind of your core worker record um to handle that staff member life process throughout their Journey with you as as a staff member in addition to a payroll module we need to assist you pay those workers and compensate them and advantages Administration module that enables you to assist handle the advantages you offer to your employees so truly excited to be here represent um bamb booy container and speak about this subject um and I think from my viewpoint I’ll I’ll probably supply a great deal of a focus on the US side of things when we talk about sort of compliance so happy 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 global yes absolutely thank you Ian hello everyone I’m Gina dorelis I’m the Employment specialist manager.
at I handle the work Council in the United States APAC EMA and Israel area I also act as us Council for I’m certified in New York and New Jersey um we make sure compliance onboarding and offboarding of employees with regard to papaya we supply payroll payments and labor force management as a Service work force company to workers serving in over.
160 nations alright thank you so both I feel entirely underqualified sitting here with you both well I forgot to mention as we were type of like going through the intro so it’s actually actually nice to actually see in the webinar chat where everybody’s really participating in from today I can see that we have individuals in Las Vegas and Indiana already so if you want to carry on 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 agenda um today we are going to discuss employing Skill new greater Info Management termination compliance and automation wow the chat has actually got really really hectic so we got Dallas Austin San Antonio Toronto San Francisco Richmond um you’re coming from definitely all over which is wonderful so uh I’m hoping that we’re actually going to have some really fantastic commentary and questions throughout the uh the webinar also alright 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 an employee and their information is Shift Planner That Links Witj Papaya Global complex without fail and an.
Ever developing relationship that begins the minute a person joins a company it continues throughout their employment and Beyond this journey can be divided into k to several key stages whilst we’re actually you understand that they’re used with us so on boarding day-to-day operations settlement and advantages professional development then we get to the offboarding and even advocacy so it even occurs after the staff member has actually left your work throughout the journey companies are accountable for collecting storing safeguarding employee data in compliance with information privacy regulations no matter where it is you’re running all over the world it often includes implementing secure data management systems and ensuring rigorous adherence to regional requirements to secure both the employee and the organization the evolution of employee information and management c.