A few days ago, we saw Ryan Hoover, founder of product hunt and investor was tweeting about the need for a “Gusto for distributed teams”.
Papaya Global loves Gusto! The platform they built for managing payroll and workers in the US is efficient and easy to use. That’s why we know that we have what companies need when it comes to managing a remote workforce.
Who’s building Gusto for distributed companies?
I’ve seen many of the unique challenges distributed teams face managing payroll, benefits, taxes, local laws, etc.
I’m at firstname.lastname@example.org ☀️
— Ryan Hoover (@rrhoover) March 23, 2019
When we started Papaya 2 years ago our vision was to revolutionize how global teams are managed. We realized that there is a large gap between companies’ abilities to manage their US workforce and what is required to properly manage a global workforce.
Currently, 40% of US companies’ workforce is spread internationally. But due to a myriad of difficulties, global workforce retention is in 50% lower than stateside and managing a remote employee takes 3 times longer than managing one based locally.
So, why is it so complicated and time consuming? Global workforce management requires handling the employee in accordance with local regulations. That means payroll, contract obligations, and constantly changing labor laws must all be done appropriately.
From management, to compliance, and language barriers, constant challenges arise. For example, having a team in place that can understand a pension fund in the US (401k), a superannuation in Australia, and an insurance plan in Israel is not easy. Add local data sources, payment intricacies and benefits management, and you realize why global employee management is so time consuming and prone to errors.
Until recently, the only way to manage remote teams was by working with multiple payroll providers spread around the world or by using a broker to manage the process, which is expensive.
In keeping with our vision to hire everywhere and manage global growth, we created Papaya’s true SaaS platform that is responsive to the ever-growing needs of a dynamic workforce. Our global HRIS system manages all types of workers (Payroll, PEO, Contractors*) in a seamless, easy and compliant manner.
We are happy to report that we are currently supporting the rapid growth of exciting companies like: Rubrik, Checkmarx, Yubico, Kong, MakerDao, Robinhood, Scoot and more….
@Rrhoover, let’s chat! We can’t wait to give you a demo.
*Explanations of our global services:
Direct employee/Payroll – This service is provided when a company has a local entity. Papaya will run and manage the following payroll processing services for the company’s local entity: payroll employee calculation, benefits management, 3rd party payments (IRS, national insurance, pension scheme, etc.), annual company and employee financial reports, tax filing assistance and more.
PEO – A professional employment organization is provided when a company is interested in directly hiring local employees but does not have a local entity for direct employment. Papaya’s affiliate suppliers will provide international employment service employer of record for the company’s tax and insurance purposes, thus outsourcing the client’s employee management tasks, such as: benefits, payroll and workers’ compensation. The hiring company however, directs the worker in day tot day activities.
Contractors – This is provided when a company is seeking to hand over control of services, business processes or manpower, to another party. It refers to both domestic and foreign contracting, including offshoring. Motives for outsourcing can be under-qualification, rapid employment growth within the company or need for reduced labor costs.
Global Payroll for the New World of Work
Cutting edge technology that streamlines your payroll in over 100 countries for EoR, contractors, and payroll workers.