0

Neeyamo Driving Innovation to Bridge the Gap Between Global & Local Payroll

Authored by Pete Tiliakos, Principal Analyst at NelsonHall

As globalization of the workforce continues its evolution, HR leaders today face the challenge of managing a more diverse, dispersed, and technology savvy human capital environment than ever before. Thus, acquiring, integrating, managing, and paying a borderless workforce is a major challenge for many multinational organizations today, driving the need to transform and digitize global HR and payroll delivery models.

NelsonHall’s recently published Next Generation Payroll market analysis finds the pursuit of digital transformation has created a convergence for HR and payroll to address technology jointly, in an effort to achieve an optimal delivery model and transformation globally. As payroll seeks to leverage technology in line with the digital transformation initiatives of the broader organization, technology-based managed payroll services are in demand.  It is no surprise that the study finds, multi-country payroll services continue to grow at a rate of more than twice that of the overall payroll services market.

With technology based managed payroll services in high demand, “next generation” payroll outsourcing is being built on cloud platforms and complemented with intelligent technology. As a result, global payroll service providers are investing heavily (on average ~16% of revenues) in payroll innovations that bridge the gap between global and local and leverage technology to eliminate boundaries.

One such vendor driving innovation in the global HR and payroll space is Neeyamo, who positions itself as a specialist “long-tail country” HR and payroll services provider. It targets global organizations who tend to have the largest portion of their employees based in home and secondary countries, with the remaining population distributed in small numbers across multiple locations constituting a “long-tail” of countries.

Recognizing that the market continues to lack a single global payroll technology platform that covers the entire globe, Neeyamo has focused its offering on filling those gaps. Its long-tail approach is addressing these gaps by leveraging technology and automation to enable cost-effective service to smaller, traditionally cost prohibitive countries, often those traditionally avoided by many large HRO players.

Neeyamo has introduced a framework it calls Global Payroll Hyperloop which is driven by its proprietary, cloud-based, global payroll platform PayNComp and paired with complementing technologies and automation features to reduce delivery time, eliminate manual processing, and provide comprehensive global compliance support. Key elements of Neeyamo’s global HR and Payroll solution include:

  • Incorporating advanced automation features and bots, throughout the payroll delivery model, eliminating over 70% of routine payroll administration activities and speeding payroll processing, with the capability to process gross to net calculations lending itself to real-time payroll processing for “payroll on demand”
  • Chatbots for payroll inquiry management support, collaboration tools, and analytics for global payroll reporting and insight
  • HR Compliance Plus, a global HR compliance system with intuitive, wizard style, cloud-based platform for HR compliance monitoring, that includes an analytic dashboard to track compliance globally
  • Benefactorz, a global cloud-based, HR benefits management system which is integrated with PayNComp and designed with an intuitive user experience, and advanced controls and analytics for benefits management

Not only has Neeyamo’s innovation focus made an impact on its payroll delivery capability, but it has also shown a positive impact on its client base as well. As part of NelsonHall’s Next Generation Payroll Services market analysis, Neeyamo’s average client reference interviews yielded above average client scores for innovation, (compared to the combined average of its peer vendor participants):

Innovation and Creativity Neeyamo:

4.00

All other vendors (avg.):

3.28

Effectiveness of Innovation Mechanisms 4.50 3.27


(1 = very low satisfaction, 5 = very high satisfaction)

Additionally, Neeyamo plans to continue driving innovation across its payroll delivery model in the following way:

  • Continued investments and enhancements to PayNComp, which is currently natively configured in ~30 countries and supports the payroll in 150+ countries. Neeyamo’s roadmap will take this to 70+ native countries support within the next three years
  • Further investments in automation, including incorporating artificial intelligence and machine learning capabilities throughout the payroll process, predictive analytics, and early-stage development of blockchain technology for HR and payroll service delivery

As a result of its proven global payroll capability and innovation approach, Neeyamo has recently signed its largest client to date; a Fortune 100 corporation with employees across more than 80 countries – a true test for Neeyamo’s Global Payroll Hyperloop.

With payroll buyers focused on best in class technology-enabled services to drive global HR and payroll transformation, they will seek vendors who can deliver not only tactical HR and payroll management but innovation that drives value creation.  Going forward I expect Neeyamo’s Hyperloop framework will position it well with multinationals seeking a proven global HR and payroll solution and provider that is capable of driving value through innovation.

To know more about Global Payroll, Visit http://bit.ly/20sQmHW

For queries, write to us at irene.jones@neeyamo.com

0

HR Technology Support Services – Top 5 Trends

by Suhas Chaphalkar

To a layman observer, HR is just about “managing the organization’s Human Resources” while being oblivious to the other various facets involved in any modern HR function. It’s only upon having a closer look at the operational aspects of HR that one realizes the actual impact HR can potentially have in today’s world of business. And technology plays a crucial role in determining how big an impact HR can have.

Although there are a multitude of interesting changes taking place in the HR Technology and Support Services space, I would like to outline here the Top 5 trends that are expected to have a major impact.

  1. Cloud-based offerings

Everything is changing, and quickly, including the types of HR technology in use, the experiences those systems deliver and the underlying software designs making many of the traditional HR systems purchased only a decade ago seem out of date.

We can’t talk about disruptive technology without discussing the massive strides that have taken place in this field. Companies now are showing a strong preference for cloud-based platforms such as SAP SuccessFactors rather than building their own or investing in complex, time-consuming and prohibitively expensive enterprise HR solutions.

  1. Increased adoption of mobile solutions

There is a visibly increased focus on building tools that are not just easy to use but also easy to access. In today’s world of hyper-connectivity and mobile workforce, organizations need to support on-the-move access to its HR Technology and services for its Managers, Employees as well as the HR function to enable seamless, anytime, anywhere solutions.

While investment to date is on track for a slight decline from last year, deal activity in HR tech has grown consistently in the last 5 years and at the current rate is expected to increase more than 15 percent over 2015. This instability is being driven by the increased focus on mobile solutions and the emergence of video, social recruiting and wearable in the workplace.

  1. AI & Analytics

AI

Using AI as an HR function provides additional advantages by automating many of the processes that a Manager does on a daily basis that can be time-consuming and arduous at best. Some of the benefits are reducing human bias, selecting promising candidates from a large number of applicants and reduce administrative work.

Analytics

HR departments are generating more data than ever before but at the same time, they often struggle to turn their data into valuable insights. New tools and technology are needed because big data is so big, fast-changing and potentially unstructured. With these tools, HR organizations are able to perform analytics and forecasting to make smarter and more accurate decisions, better measure efficiencies and identify management “blind spots” to answer important questions regarding workforce productivity, the impact of training programs on enterprise performance, predictors of workforce attrition, and how to identify potential leaders. The ability to capture and analyze big data has enabled many companies to both increase revenues by better understanding and more accurately targeting customers and cut costs through improved business processes.

  1. Millennial Workforce

There is another category of learning products coming that I call “learning experience platforms.” They focus on delivering a “learning platform” and not just a “learning management platform.” In other words, they are places to go to browse and learn, and not merely to register for courses.

  1. Gig economy

There are two emerging markets that support the new way of working. The first is contingent workforce management systems. The second market is the gig-work networks that match workers to projects. The potential cost savings presented by the global gig economy can be attractive to HR teams as budgets go further. Technology is empowering social change. Our on-demand culture is changing how people want to earn a living. The freedom of being able to choose how, where and for whom you work is a huge benefit for the gig worker.

Understanding this trend helps the HR professional recruit, manage and develop a gig worker. For example, by introducing flexible working policies and investing in technology that supports remote working.The gig economy, it’s here to stay.

In conclusion, making the right software choice is quintessential for any and every HR organization as the use of technology to deliver HR services and how HR leverages technology to manage a firm’s human capital are the deciding factors that distinguish high – performing HR organizations from others.

0

IN Conversation with Shakil Gour: How to handle compliance while performing Background checks globally?

Which region/ service in your experience has the most complex Employee Screening compliance laws?

Based on my experience in the global verification practice, EU has the most complex landscape with its stringent data security and privacy laws. The most recent and complex regulation is the GDPR compliance established in the EU data security landscape making background checks more rigid.

When it comes to service delivery, the criminal records check is undoubtedly the most complex to verify as information on an individual’s criminal records is considered most sensitive. Criminal checks involve high degrees of complexity and sensitivity as it deals directly with a candidate’s criminal background. Dealing with such sensitive information requires adequate research and understanding as every country has its own data security laws that need to be adhered to.

Could you provide examples of recent updates in Employee Screening compliance in the APAC region?

Many countries in the APAC region are in the process of amending their respective data protection laws. The Cyber Security Law in China is one such recent change that will have a huge impact the Employee Screening process.

NPC ( National Privacy Commission) – regulator of data privacy act in the Philippines is updating the terms of its current data protection laws. This change has imposed a mandate on all organizations processing personal data to register a DPO (Data Protection Officer) by the 9th of Sept 2017. The personal information controller is required to register all personal data processing systems by the 8th of Mar 2018.

India, until the recent supreme court verdict, did not have legislation on privacy or data protection laws. Now with privacy becoming a fundamental right in India, we expect the data protection model will undergo a radical transformation.

The data protection laws in Singapore is also witnessing a change that would impact the compliance programs. Currently, the compliance programs are under public consultation which is expected to witness an impact soon.

What are the key requirements while defining a global compliance strategy for an organization with the global presence?

The key requirement to consider while defining a global compliance strategy is to identify the most appropriate and registered source that keeps you abreast on dynamic compliance norms. Such sources of inputs ensure there is complete adherence to the statutory laws laid by each country.

The other critical factor to consider would be on how organizations interpret compliance updates and adhere to compliance norms with 100% accuracy.

Additionally, a well-defined global compliance strategy includes implementing a cost-effective solution for background checks. And as an employee screening provider, it is important to keep the client updated about the constant changes in compliance.

What is the biggest element that leads to breach in compliance during Employment Screening & how can organizations overcome it?

It is mandatory for organizations to understand, implement and comply with the various privacy laws and to stay abreast of the ongoing changes. Such constant updates on the statutory and legal laws can be received through a Triangulated framework that would involve 1. Research 2. Validation 3. Verification

Research entails analysis & listing of all the compliance & data protection laws specific to every country. The listed laws and compliance information is then validated by an Employee Screening partner before communicating it to the organization. Once validated, the law is verified by global audit firms thereby completing the framework. This framework helps organizations receive the most updated laws & compliance norms for implementation.

According to you, what kind of compliance aspects does a customer consider while assessing a vendor for selection?

  • The foremost requirement that customers consider while assessing a compliance vendor is the implementation of Information Security Controls by the screening provider. With relevant Information Security controls implemented, a majority of data privacy-related risks are eliminated
  • There is an increased emphasis on periodic audits by external parties on the privacy controls of the provider
  • Customers also look for a dedicated data protection officer/ legal department that is responsible for implementing relevant controls

From a compliance perspective, what are the risks of working on cloud vs. on-premise system for Employee Screening?

Working on the cloud requires an in-depth understanding of the compliance norms of the region where data is hosted. Hosting data on the cloud reduces risks related to data backup and increased operational costs.

On the contrary, on-premise models do not have a bearing on compliance norms of various regions as they is hosted locally. However, on-premise models include risks of a single point failure. Availability of data & operational costs is also a concern.

At the outsight, risks involved in on-premise out-weigh those incurred by using cloud-hosted models. Thus, choosing a cloud solution provider complying with compliance norms, data security & backup measures is always the best fit for any organization.

What is the key metrics that an organization should track to measure the effectiveness of the global compliance strategy implemented?

  • Tracking the number of compliance that an organization needs to adhere to
  • Creating a checklist and performing monthly audits to check compliance adherence levels
  • Maintaining consistent and high compliance scores and to identify its relative significance to performance month on month
  • Seeking external professional advice to check adherence to compliance and assess the effectiveness of audits

What would be your advice to organizations who perform screening for their global hires? 

Any organization should define a global screening policy with the help of an external and certified professional agencies. The policy should also include a global package matrix that details roles of new hires and a listing of background checks that are required to be performed. In addition to defining a well-structured policy, the organization should have a thorough understanding of the different checks that can be legally performed in the country where employees are being hired. Standardizing the employee screening process across the globe provides better & faster results.