A CFO’s Viewpoint on Papaya Global Leaver Processing…
Papaya Global’s platform simplifies global labor force management for business, ensuring compliance with local regulations and tax laws. Their services incorporate payroll processing, benefits administration, compliance oversight, time and participation tracking, and HR assistance. The platform centralizes worldwide payroll operations, providing services with real-time insights and control. Founded in 2016, Papaya Global has expanded to Tel Aviv, New York City, London, and Kiev.
In the vibrant landscape of international service operations, managing payroll across borders can be a complex and difficult task. As the Chief Financial Officer (CFO) of an international company, I understand the important importance of efficient and certified payroll management. In our pursuit of excellence, we have actually welcomed ingenious services to simplify our processes, and one such transformative tool is Software.
The Obstacle of Worldwide Payroll:
Worldwide growth produces varied challenges, and payroll management is no exception. Differing tax guidelines, differing work laws, and several currencies make it crucial for organizations to adopt advanced services to ensure accuracy, compliance, and performance in payroll processing.
Software: A Comprehensive Service:
employees so it’s actually fundamental to ensure that you’ve considered from the outset any post-termination restrictions that you wish to take into the contract of work that they’re enforceable so that suggests you need to actually consider what it is you’re seeking to protect and why plainly Define what’s consisted of within the scope of that confidential information and deal with the period of limitation post-determination that you wish to use and be really able to to justify that in relation to intellectual property the position truly depends on the kind of intellectual property you’re looking to secure and also the jurisdiction so for instance from a copyright perspective in the Netherlands the end client is most likely to have the um copyright rights in a copyright that the workers produced who’s been under their supervision and control instantly nevertheless in somewhere like Poland for instance that automated right might not exist and that assignment would need to flow through the chain uh contractually so it truly depends on the jurisdiction and the type of IP all right thank you Elizabeth Steve was staying on the topic of agreements Miss classified misclassifying staff members
Papaya Global Software has actually emerged as a game-changer in the world of international payroll management. Its cloud-based platform incorporates payroll, workforce management, and employee benefits into a single, easy to use user interface. As the CFO, I have experienced firsthand the positive effect of on our company’s monetary operations.
Unified International Payroll Processing:
enables our company to procedure payroll seamlessly across multiple nations. The platform’s unified approach allows for consistent payroll estimations, reducing mistakes and ensuring compliance with local regulations. This has actually considerably mitigated the dangers related to worldwide payroll processing.
also crucial for if in the future someone states misclassification you have your file supported by the requisite documents and that the right assessment tools to reveal someone that you had a thoughtful procedure therefore what do you need to include because procedure it’s the who the what the where and the when who are you dealing with are you dealing with a private or are you handling a personal Service Corporation and how are they operating what are they doing is it the type of work that lends itself more to being an independent specialist than an employee so for example accounting
I.T crafting the creatives these all provide themselves more to that assessment of being freelancer you understand also uh where are they doing it can they work from anywhere or do they need to be on site and handled again another essential element is the management and guidance of the uh employee and after that finally when is it a particular task is it a six-month job six years all of this is workable however it has to be documented and it needs to be completely um examined so we have a tool we call it ic2 we had an ic1 and we’ve enhanced it this year so that we can roll it out globally these tools take a survey list for the employee the employee fills out and fills these questions out therefore does the end client or the recipient of the services they both put their info into the tool and then it does an evaluation waiting the different questions since not every jurisdiction has the exact same sensation about a few of these questions some believe they’re more crucial than others and it brings out a red yellow or green red you’re most likely a staff member yellow you’re on the cusp we can most likely assist you with that in terms of a few of the things you require to strengthen to ensure that you are given that evaluation of uh independent specialist or green where you were assessed as an as a independent contractor once that assessment is done all the requisite files are underneath it so that if later there
Browsing the complexities of worldwide work laws and tax regulations can be overwhelming. Papaya Global’s automated compliance engine keeps our company up-to-date with modifications in policies across jurisdictions. This guarantees that our payroll processes comply with the current standards, minimizing the threat of non-compliance and associated penalties.
network of In-House outside consultants accounting firms and legal companies who help us keep our databases totally up to date and we also contact we need to when we see an uncommon or or especially complicated situations okay thanks Steve I can just see a quick question in the Q a window yes the session will be taped and sent out to participants afterwards um returning to to the webinar itself Ray employer of record is regulated differently around the world and the German law for example it’s classified as employee leasing can you shed any light on some of the unique considerations for nations and where the eor design isn’t managed yes Ian employee leasing or labor leasing as it’s likewise called which prevails in numerous nations specifically in Europe enforces strict guidelines on products such as the length of task it also appoints employees to collective bargaining agreements that gives them rights and benefits but even in the nations that don’t have those stringent guidelines for instance the UK Canada and the nordics there are regulations for each country and each employee is treated the same as all the other workers because country and all those policies require to be abided by alright thank you Ray um Kathy moving I would state to yourself what do business require to factor in when determining contract status to secure themselves and the rights of hires what are the benefits and drawbacks of working with contractors and Freelancers versus long-term employees so clearly the the benefit of specialists versus employees is the the flexibility for both the employee and for the employer um however I can’t worry enough how essential it is to have a consistent thorough and a well-documented compliance
Papaya Global Leaver Processing and Time Savings:
The software’s automation capabilities have actually significantly decreased the time and effort required for payroll processing. Manual information entry and recurring jobs have been lessened, allowing our financing group to concentrate on strategic initiatives rather than administrative burdens. This has actually led to increased efficiency and efficiency within our financial operations.
in one because each state has its own policies Californians are a few of the most rigorous an example is pay slips on a payslip in California the best info needs to be on the payslip in the right format and in the best position if you’re in breach of of policies for payslips the fines are issued per payslip so that’s each staff member each pay slip will incur a great thanks Ray thank you Elizabeth a lot to worry to consider and we’re just 2 questions in and 10 minutes or so working with in one country is hard enough but when hiring in a you know on an international level it’s an entirely different story you need to ensure that you depend on date with existing in addition to pending regional labor laws Steve um how do you make sure and ensure that individuals 2.0 team is on top of an ever-changing landscape which your customers are totally supported and I’ll arrange this into 3 crucial things we perform in most importantly you require to have the ideal group so we hire a group of worldwide professionals in Employment Practices um that ex that group of professionals includes lawyers it consists of payroll professionals it includes HR professionals and these are people that not only know the laws in these in these nations and areas but they also understand the languages they understand the regional practices they know the cultures and it is essential to have that ideal team and genuinely 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 precise and prompt monetary data is crucial for decision-making. The platform’s reporting abilities empower me to make informed tactical decisions based upon real-time insights into our international payroll information.
application and its scope and the manner in which it applies to employment law in practice can be checked through the judicial system by way of case law examples of that would be the acquired rights regulation otherwise referred to as the 2p policies in the UK the working time regulations which has had numerous hairs of that legislation checked especially around holiday pay and obviously as Kathy’s going to come on to discuss later employment status which there’s been several precedence set over the years so I think it’s actually that continuous evolution of the employment law landscape that you truly require to navigate when when operating in Europe okay thank you Elizabeth Ray what about you from your individual experience while crossing the pond as pointed out each country has different regulations however the United States is basically 50 countries
Scalability for Service Growth:
One of the standout functions of Papaya Global is its scalability. As our company continues to grow and broaden into brand-new markets, the software application seamlessly accommodates modifications in our labor force and payroll requirements. This scalability guarantees that our payroll facilities can adjust to the progressing needs of our international company.
Worldwide Chief legal officer we have actually 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 jointly these 3 people have Years of experience in in employment law and international Employment Practices so thank you it’s a pleasure to be with everybody 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 delete share head of Global Provider at papaya Worldwide inform us about yourself thank you Elin Ian hello my name is Elite I have actually been with the company 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 opportunity to relocate and operate in 3 different nations it is the business’s duty to ensure my protection while residing in a foreign country compliance with local laws and regulations is important 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 demonstrate the significance of regional
knowledge when business Go Worldwide thank you and take pleasure in alright thank you as I said let’s carry on to the pact agenda today’s webinar is a chance to ask the panel the questions you’ve been thinking about we’ll discuss the facts a business needs to think about when opening a brand-new entity and broadening into brand-new countries as well as keeping things going we’ll cover elements such as regional guidelines considerations when working with compliance essential challenges payments and what not to do it’s one of the most essential things remembering what not to do um operating on an international level is not for the faint-hearted the bigger a company grows the more they need to understand and handle knowing what to do in each new situation as it increases is essential on many levels understanding local guidelines and regional laws in addition to organization practices assists mitigate Associated and global growth papaya through our local experts can navigate possible risks such as intellectual property defense data privacy security issues ensuring the business’s operations stay compliant and secure tax Social Security returns and remittances vary by country
In conclusion, Papaya Global Software has actually proven to be an important possession in our mission for effective and compliant global payroll management. As the CFO of a worldwide company, I am positive in recommending Papaya Global to organizations looking for to streamline their payroll procedures, enhance compliance, and achieve higher efficiency in handling their global workforce. The software application’s innovative functions and commitment to excellence align with our strategic objectives, making it an important part of our monetary operations.
I find time and time again the employees often misclassified unconsciously they don’t comprehend the conditions of work or contract and are told by the customer why it’s optimum primarily to the customer why you need to be utilized or engaged in this fashion the employee may owe taxes and Social Security to the authorities the future pension and healthcare benefits 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 And so on so it’s a big effect that they never ever knew they were walking into you couldn’t agree with you more if you state the UK for instance hmrc can return as much as ten years um Kathy companies are getting insurance coverage against misclassification however generally premiums are only covering the expense of legal costs whilst the average claim assessed versus employers relates to to 40 or 50 percent of the base salary of employee exists any point in getting insurance and what is the alternative yeah to your point um you do require to read the small print it is not covering the taxes charge and interest in most cases I haven’t seen it at least so uh the the other location that I do believe if you managed to get the coverage what we are stating is is that if your compliance program is not up to stuff you could be rejected protection on the basis of the truth that you were not in compliance with laws um in the UK
Expense Considerations and Papaya Global Leaver Processing …
The detailed features of come at an expense,
Current years have seen a dramatic change to the labor force as the increase of remote work has broken down geographical barriers to hiring. Organizations can now work with staff from anywhere worldwide, allowing them to access the very best readily available skill for any offered role. This offers employees more liberty to work from home and increase their earnings without relocating to costly locations or commuting long distances. A 2022 study found that 87% of employees who have the chance to work remotely take that chance. The outbreak of COVID-19, in conjunction with brand-new enterprise connection software application, accelerated the transfer to remote work, consisting of in industries previously hesitant to embrace the trend.
insights are important 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’ve worked in payroll for the last 25 years I have actually had functions in all sort of Industries retail and Charm to Aerospace in all types of organizations startup to matrixed environments around the world I provided management and strategy to populations of more than 100,000 workers on a month-to-month basis and in over 170 nations today I’m the perel strategist for papaya
International I work across business male maning and developing external relationships supporting Business customers and services and acting as a consultant I wish to present our very first Greg um visitor 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 stated my name is Greg Piper uh I am the senior business counsil at bambo HR so I lead our internal legal group and actually work really closely with our um HR department too to deal with various legal and HR matters that turn up so truly excited 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 great
Although Papaya Global offers combinations with numerous HR and financing systems, we came across some obstacles during the combination procedure. Tailoring the software application to align with our existing facilities proved to be more complex than anticipated, resulting in hold-ups in the preliminary rollout.
The comprehensive features offered by Papaya Global come at an expense, which some of our smaller subsidiaries discovered to be excessively pricey. As an international organization, we needed to thoroughly weigh the requirement for sophisticated functionality versus budget restraints.
Support Action Time:
On occasion, our teams experienced problems that required immediate support. Nevertheless, the reaction time from Papaya Global’s consumer assistance group was not always as timely as we would have liked, leading to hold-ups in solving those problems.
Our implementation of involved a phased technique. We began by onboarding a couple of subsidiaries to evaluate the system’s compatibility with our existing procedures. This permitted us to recognize and deal with integration challenges early on. As the software became more implanted in our operations, we slowly broadened its use to cover our whole international labor force.
The automated features streamlined our payroll procedures, minimizing the time spent on manual estimations and compliance tracking. Regular training sessions and ongoing support from Papaya assisted our groups end up being proficient users of the software application, optimizing its potential for our company.
Companies that employee workers across multiple nations often face elaborate difficulties when it pertains to managing their workforce. Among the most significant obstacles is consolidating different data streams and adhering to diverse local and national labor regulations, which can be both time-consuming and costly. Additionally, setting up regional entities in new areas can be a costly and suboptimal choice, with alternatives such as opening a foreign subsidiary or working with an expert employment organization (PEO) frequently charging up to 15% of the payroll. These difficulties have resulted in a significant boost in difficulty recruiting qualified personnel, with 75% of employers reporting this issue in 2022, a 21% increase from 2019. The payroll and HR services market, valued at $26.4 billion in 2022, is expected to reach $50.4 billion by 2030.
offers a solution supporting all kinds of work. It supplies an end-to-end platform, from staff member onboarding and continuous management to worldwide payments and. It helps business with labor law compliance in the jurisdictions in which they run, offers management of work benefits, and makes sure 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 specialist 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 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 survey please be sure 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 enjoyed have you here as we start a journey of data to guideline accomplishing
360 degree employee compliance where we’ll dive into the necessary elements of the employee compliance management design throughout the session we’ll check out real life challenges real local regulations best practices and the function of Automotion in simplying compliance journey be prepared to emerge in a comprehensive understanding of how to secure your company and workers while remaining certified in an
Ever progressing regulative environment in the everchanging world of business and finance ensuring compliance with payroll policies is not just essential however likewise a legal imperative from the moment of hiring to the in intri intricacies even sorry of termination every step along the staff member journey is Frau with compliance dangers that have significant effects however with a much deeper more nuanced understanding of their obligations companies can not only navigate the elaborate landscape however likewise proactively ensure this 360 degree compliance the webinar is developed to equip you with the understanding and tools essential to navigate the complex Surface of compliance whether you’re an experienced P professional a small company owner or someone new to the field what I want to do before we start and I think it’s actually crucial
In our quest to boost performance and precision in managing our worldwide labor force, our multinational corporation turned to, a leading and labor force management software application. The transition intended to simplify the complex task of managing throughout various countries, currencies, and compliance regulations.
One of the standout functions of is its robust compliance management system. The software instantly updates itself to follow ever-evolving tax and labor laws throughout several jurisdictions. This has been vital in ensuring that our procedures stay compliant in each nation of operation.
is to state that the content here is illegal recommendations it is just for your details please consult your legal team needs to you have any questions or concerns in relation to anything that we have actually talked about today our key take key takeaways by the end of the webinar will be an understanding of staff member compliance dangers how to work with ly with self-confidence how to simplify information management and automation so let’s take ourselves a minute to acquaint ourselves with the webinar platform once again as we’ve.
work as your hris or is type of your core staff member record um to handle that employee life cycle throughout their Journey with you as as an employee in addition to a payroll module we need to help you pay those staff members and compensate them and benefits Administration module that enables you to help handle the benefits you offer to your workers so actually delighted 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 most likely supply a great deal of a concentrate on the United States side of things when we discuss kind of compliance so delighted to be here thanks for having me Ian okay thanks Greg um Gina over to you would you like to introduce yourself and inform the audience a little bit about papay worldwide yes definitely thank you Ian hi everybody I’m Gina dorelis I’m the Work expert supervisor.
at I manage the work Council in the US APAC EMA and Israel area I also work as us Council for I’m licensed in New york city and New Jersey um we guarantee compliance onboarding and offboarding of workers with regard to papaya we offer payroll payments and labor force management as a Service labor force provider to workers serving in over.
160 countries fine thank you so both I feel totally underqualified sitting here with you both well I forgot to discuss as we were kind of like going through the intro so it’s truly actually great 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 currently so if you want to continue tell where you are that would be definitely wonderful whilst we simply wait for everyone else to sort of like participate there we go Chicago too well um so whil we’re doing that I’m waiting on everybody to sort of join I’ll just run us through the agenda um today we are going to discuss working with Skill 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 great so uh I’m hoping that we’re actually going to have some truly fantastic commentary and questions throughout the uh the webinar too fine 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 data is Papaya Global Leaver Processing multifaceted without fail and an.
Ever progressing relationship that starts the moment a person joins an organization it continues throughout their employment and Beyond this journey can be divided into k to numerous crucial stages whilst we’re actually you know that they’re used with us so on boarding everyday operations payment and advantages expert development then we get to the offboarding and even advocacy so it even occurs after the worker has actually left your work throughout the journey organizations are accountable for gathering keeping securing staff member data in compliance with information privacy regulations no matter where it is you’re operating around the globe it often includes executing safe information management systems and making sure strict adherence to regional requirements to secure both the worker and the company the advancement of employee information and management c.