Why Do Companies Hire on Third-Party Payroll?

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While most operators would suggest that salaries and payments are the business’s strategic components since it populates the Sales, General & Administrative line item, a significant portion of businesses across the globe outsource it to third-party service providers.

As per a Deloitte survey, 24%-27% of firms across North America, Latin America, EMEA, and APAC outsourced their payroll management function to third-party vendors.

Payroll management services generally include a basket of services like:
  • Integrating time-sheets into payable salaries and tax liabilities.
  • Managing tax-deducted at source, tax filings, and deductions.
  • Providing management reports.
  • Managing wage garnishments and other ad hoc requirements.
  • Processing payment discrepancies.

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StafinGo

StafinGo focuses on people and placements. We are a purpose driven, trusted, hiring and staffing solution partner, committed to matching people with the right profession and companies with the most suitable workforce.

OTHER ARTICLES
Payroll

Listen and act: how to get employee experience management right

Article | June 15, 2022

As the science behind employee engagement evolves, it’s become clear just how much businesses can gain from a happy and involved workforce. From improved performance, to reduced attrition, increased revenue and even a better customer experience, employee engagement is at the heart of business growth. Given these benefits, it’s no surprise that the role of HR departments is moving beyond just managing people and towards managing experiences.

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Payroll

5 Things HR Can Do To Improve Employee Output

Article | December 23, 2021

Employees are companies most valuable asset – Without the talent, knowledge and expertise those employed bring to an organisation, it’s safe to say that the business world would be a very different landscape. Human Resources is often held responsible for owning the employee value strategy, where we’re now embracing tremendous improvements in how the value that employees bring, can be achieved. Here we’ll explore how data analysis, learning & development, employee engagement, 360 feedback and flexibility all offer a significant opportunity to improve employee output within every organisation in 2020.

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Recruitment & Retention

6 Reasons To Invest In Employee Onboarding In Your Organization

Article | August 19, 2022

You never get a second chance to make a first impression. This holds particularly true when it comes to employee onboarding. It's a new hire's introduction to the organization and the experience has a significant impact on employee retention. Unfortunately, that's why it's rare to see many employees with years of tenure. Research by Future Workplace found that 91% of Millennials expect to stay in a job for less than 3 years. Companies lose 25% of all new employees within the first year, according to SHRM, but almost 70% of employees are more likely to stay with a company for 3 years if they experienced great onboarding.

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Great training is key to creating a positive employee experience

Article | February 10, 2020

You’d love to have employees working for you who are the type that always want to learn new things and grow, right? Right. Engaged employees spend more of their time working to improve their performance through training and development. They are the type of workers every company wants, and they expect their employers to create a positive experience for them by matching their ambition with effective training. For firms and HR professionals trying to create a positive employee experience, it’s essential that your team of in-house trainers is ready to lead the way.

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Spotlight

StafinGo

StafinGo focuses on people and placements. We are a purpose driven, trusted, hiring and staffing solution partner, committed to matching people with the right profession and companies with the most suitable workforce.

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HiBob with Papaya Global Transforms HR-Payroll for Multinationals

HiBob | September 07, 2023

HiBob, the modern HR platform that powers productivity, engagement and retention, and Papaya Global, a leading HR and payroll solution provider, has partnered to offer robust HR-integrated payroll solutions for multinational companies. By integrating HiBob's HR data with Papaya's platform, organizations can streamline global payroll and payments, optimizing processes and improving operational efficiency. This partnership addresses the critical need for seamless HR and payroll solutions in today's global workforce landscape. With this collaboration, organizations can seamlessly integrate HR, PTO (Paid Time Off), and compensation data from HiBob with Papaya Global's platform. This real-time data synchronization empowers multinational companies to consolidate and optimize their people and payroll processes. As a result, customers can unlock new opportunities, enhance operational efficiency, and maintain agility in a constantly evolving global business landscape. This partnership aims to address the specific needs of multinational organizations, ensuring they have the tools to navigate the challenges of managing a global workforce effectively. Furthermore, the partnership ensures compliance with local tax regulations, labor laws, and data privacy requirements, facilitating smoother global expansion efforts for organizations. With Papaya Global's recognition as one of TIME Magazine's 100 Most Influential Companies of 2023 and HiBob's acknowledgment as a TIME Magazine Best Invention of 2022, customers can trust this compliant and user-friendly solution supporting their global expansion efforts. CEO of HiBob, Ronni Zehavi, commented, We are thrilled to announce this alliance. It will be a game changer for companies struggling with payroll complexities in managing their global workforce. This integration strengthens our commitment to providing world-class HR and payroll management solutions to multinational companies, granting them the tools they need to thrive in today's dynamic business environment. [Source – Cision PR Newswire] About HiBob Founded in 2015, HiBob is a leading force reshaping contemporary workplaces with its cutting-edge HR platform, 'Bob.' The company's platform simplifies the intricacies of HR processes, introducing a revolutionary and user-friendly tool that impacts every employee throughout the organization. HiBob thrives on a culture of innovation, continuously engaging in learning loops to trigger significant cultural transformations for companies with dynamic and distributed workforces.

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ZipRecruiter Rolls Out Labor Market Data Economic Research Portal

ZipRecruiter | November 08, 2023

ZipRecruiter's labor market data provides an edge with current insights, diverse industry details, and a blend of surveys and actual data. The newly launched portal will offer vital labor market insights using exclusive data, including the Job Seeker Confidence Index, New Hires Survey, and monthly economist commentary. The Economic Research team leverages ZipRecruiter's exclusive data, proprietary research, and government data to unveil dynamic labor market trends, regularly updated on the site. ZipRecruiter, a prominent online employment marketplace, has introduced its latest initiative, ZipRecruiter-Research.org, a dedicated platform for housing its economic research endeavors. This newly launched website showcases in-depth commentary and analysis provided by its team of distinguished economists and data scientists, focusing on the most recent labor market data. Apart from this, it also offers valuable insights derived from the company's proprietary marketplace data and quarterly surveys. The team's effort to collect and study a lot of job data will help them share helpful information on the new platform. This information will make it easier for job seekers, employers, and policymakers to make good choices. Besides, the team will also work hard to find new trends and opportunities for people and businesses. ZipRecruiter's extensive repository of labor market data offers three distinct advantages compared to publicly accessible sources. Firstly, it furnishes current insights, ensuring the most recent information is available. Secondly, it provides comprehensive details, key takeaways, and noteworthy trends from a diverse array of industries and geographic locations. Lastly, this data is derived from surveys and actual behavioral data from employers and job seekers. The latest research, now featured on the new site, encompasses the Q3 2023 edition of ZipRecruiter's Survey of New Hires. It indicates that, despite many U.S. residents who began their careers or switched jobs in the past six months finding satisfactory positions relatively quickly, there is an emerging trend of growing job-seeking challenges. This is reflected in significant declines across key survey metrics, such as the proportion of new hires experiencing salary increases, receiving signing bonuses or being actively recruited for their new positions, suggesting a notable shift in worker bargaining power. The report also highlights several key findings, including a decrease in the percentage of new hires receiving salary increases and signing bonuses. Additionally, it reveals a significant interest in part-time seasonal roles during the winter holidays and a potential rise in 'quiet cutting,' wherein employees are quietly reassigned to less attractive roles to encourage their voluntary departure, which has become more prevalent in 2023. Among those reassigned, a substantial number chose to resign, while others faced termination or layoffs. ZipRecruiter-Research.org features insights from the Economic Research team, utilizing ZipRecruiter's exclusive data, including job posting volumes, salaries, benefits, and more. It regularly uncovers vital labor market trends. Each quarter, it releases the Job Seeker Confidence Index and the Survey of New Hires, providing valuable insights into job seeker optimism and the experiences of new hires. Additional reports on labor market topics are available, and the team offers daily commentary on important economic indicators while remaining accessible for inquiries, interviews, and data requests.

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UKG Labs Welcomes a Startups’ Cohort for People-Centric Workplaces

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UKG Labs welcomes a second cohort of startups from four countries, all focused on enhancing business cultures. Startups Bites, Denim, Hop In Technologies, and Mo were selected for their innovative workforce technologies and commitment to workplace wellbeing. Despite offering a collaborative platform, UKG Labs poses potential risks, including over-reliance on UKG, intellectual property disputes, and a possible compromise of the startups' original visions. UKG, a leading HR, payroll, and workforce management solutions provider, has introduced its second cohort of early-stage companies to its global startup ecosystem, UKG Labs. The selected startups, from four different countries, are committed to creating high-performing, people-centric cultures in businesses. The new entrants include Bites from Israel, Denim from the U.S., Hop In Technologies from Canada, and Mo from the U.K. These companies were chosen for their innovative technologies that add value to the frontline workforce and their commitment to helping people thrive at work. UKG Labs provides more than just capital to these startups. It offers a platform for co-learning, co-creation, and co-experimentation, allowing startups to gain insights into specific market problems where UKG has expertise. The startups also work directly with UKG customers to explore new solutions and shape emerging HR and HCM technologies. Hugo Sarrazin, Chief Product and Technology Officer at UKG, stated that the goal of UKG Labs is to help businesses become great workplaces by building an ecosystem of technology companies that share its vision. The startup founders have completed a three-month onboarding engagement and will showcase their innovations at the UKG Aspire 2023 conference. While the UKG Labs initiative offers numerous benefits, it does come with potential drawbacks. The startups involved might become overly reliant on UKG for resources and expertise, which could potentially stifle its independence and creativity. There's also a risk of intellectual property disputes, and the startups' original visions might be compromised to align with UKG's goals. On the brighter side, UKG Labs provides a platform for startups to co-learn, co-create, and co-experiment, fostering innovation and helping businesses become better workplaces. It also allows startups to gain insights into specific market problems where UKG has expertise and work directly with UKG customers to explore new solutions and shape emerging HR and HCM technologies. This collaboration ultimately serves to enhance the workplace experience for all.

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HiBob, the modern HR platform that powers productivity, engagement and retention, and Papaya Global, a leading HR and payroll solution provider, has partnered to offer robust HR-integrated payroll solutions for multinational companies. By integrating HiBob's HR data with Papaya's platform, organizations can streamline global payroll and payments, optimizing processes and improving operational efficiency. This partnership addresses the critical need for seamless HR and payroll solutions in today's global workforce landscape. With this collaboration, organizations can seamlessly integrate HR, PTO (Paid Time Off), and compensation data from HiBob with Papaya Global's platform. This real-time data synchronization empowers multinational companies to consolidate and optimize their people and payroll processes. As a result, customers can unlock new opportunities, enhance operational efficiency, and maintain agility in a constantly evolving global business landscape. This partnership aims to address the specific needs of multinational organizations, ensuring they have the tools to navigate the challenges of managing a global workforce effectively. Furthermore, the partnership ensures compliance with local tax regulations, labor laws, and data privacy requirements, facilitating smoother global expansion efforts for organizations. With Papaya Global's recognition as one of TIME Magazine's 100 Most Influential Companies of 2023 and HiBob's acknowledgment as a TIME Magazine Best Invention of 2022, customers can trust this compliant and user-friendly solution supporting their global expansion efforts. CEO of HiBob, Ronni Zehavi, commented, We are thrilled to announce this alliance. It will be a game changer for companies struggling with payroll complexities in managing their global workforce. This integration strengthens our commitment to providing world-class HR and payroll management solutions to multinational companies, granting them the tools they need to thrive in today's dynamic business environment. [Source – Cision PR Newswire] About HiBob Founded in 2015, HiBob is a leading force reshaping contemporary workplaces with its cutting-edge HR platform, 'Bob.' The company's platform simplifies the intricacies of HR processes, introducing a revolutionary and user-friendly tool that impacts every employee throughout the organization. HiBob thrives on a culture of innovation, continuously engaging in learning loops to trigger significant cultural transformations for companies with dynamic and distributed workforces.

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ZipRecruiter's labor market data provides an edge with current insights, diverse industry details, and a blend of surveys and actual data. The newly launched portal will offer vital labor market insights using exclusive data, including the Job Seeker Confidence Index, New Hires Survey, and monthly economist commentary. The Economic Research team leverages ZipRecruiter's exclusive data, proprietary research, and government data to unveil dynamic labor market trends, regularly updated on the site. ZipRecruiter, a prominent online employment marketplace, has introduced its latest initiative, ZipRecruiter-Research.org, a dedicated platform for housing its economic research endeavors. This newly launched website showcases in-depth commentary and analysis provided by its team of distinguished economists and data scientists, focusing on the most recent labor market data. Apart from this, it also offers valuable insights derived from the company's proprietary marketplace data and quarterly surveys. The team's effort to collect and study a lot of job data will help them share helpful information on the new platform. This information will make it easier for job seekers, employers, and policymakers to make good choices. Besides, the team will also work hard to find new trends and opportunities for people and businesses. ZipRecruiter's extensive repository of labor market data offers three distinct advantages compared to publicly accessible sources. Firstly, it furnishes current insights, ensuring the most recent information is available. Secondly, it provides comprehensive details, key takeaways, and noteworthy trends from a diverse array of industries and geographic locations. Lastly, this data is derived from surveys and actual behavioral data from employers and job seekers. The latest research, now featured on the new site, encompasses the Q3 2023 edition of ZipRecruiter's Survey of New Hires. It indicates that, despite many U.S. residents who began their careers or switched jobs in the past six months finding satisfactory positions relatively quickly, there is an emerging trend of growing job-seeking challenges. This is reflected in significant declines across key survey metrics, such as the proportion of new hires experiencing salary increases, receiving signing bonuses or being actively recruited for their new positions, suggesting a notable shift in worker bargaining power. The report also highlights several key findings, including a decrease in the percentage of new hires receiving salary increases and signing bonuses. Additionally, it reveals a significant interest in part-time seasonal roles during the winter holidays and a potential rise in 'quiet cutting,' wherein employees are quietly reassigned to less attractive roles to encourage their voluntary departure, which has become more prevalent in 2023. Among those reassigned, a substantial number chose to resign, while others faced termination or layoffs. ZipRecruiter-Research.org features insights from the Economic Research team, utilizing ZipRecruiter's exclusive data, including job posting volumes, salaries, benefits, and more. It regularly uncovers vital labor market trends. Each quarter, it releases the Job Seeker Confidence Index and the Survey of New Hires, providing valuable insights into job seeker optimism and the experiences of new hires. Additional reports on labor market topics are available, and the team offers daily commentary on important economic indicators while remaining accessible for inquiries, interviews, and data requests.

Read More

Workforce Management

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UKG Labs welcomes a second cohort of startups from four countries, all focused on enhancing business cultures. Startups Bites, Denim, Hop In Technologies, and Mo were selected for their innovative workforce technologies and commitment to workplace wellbeing. Despite offering a collaborative platform, UKG Labs poses potential risks, including over-reliance on UKG, intellectual property disputes, and a possible compromise of the startups' original visions. UKG, a leading HR, payroll, and workforce management solutions provider, has introduced its second cohort of early-stage companies to its global startup ecosystem, UKG Labs. The selected startups, from four different countries, are committed to creating high-performing, people-centric cultures in businesses. The new entrants include Bites from Israel, Denim from the U.S., Hop In Technologies from Canada, and Mo from the U.K. These companies were chosen for their innovative technologies that add value to the frontline workforce and their commitment to helping people thrive at work. UKG Labs provides more than just capital to these startups. It offers a platform for co-learning, co-creation, and co-experimentation, allowing startups to gain insights into specific market problems where UKG has expertise. The startups also work directly with UKG customers to explore new solutions and shape emerging HR and HCM technologies. Hugo Sarrazin, Chief Product and Technology Officer at UKG, stated that the goal of UKG Labs is to help businesses become great workplaces by building an ecosystem of technology companies that share its vision. The startup founders have completed a three-month onboarding engagement and will showcase their innovations at the UKG Aspire 2023 conference. While the UKG Labs initiative offers numerous benefits, it does come with potential drawbacks. The startups involved might become overly reliant on UKG for resources and expertise, which could potentially stifle its independence and creativity. There's also a risk of intellectual property disputes, and the startups' original visions might be compromised to align with UKG's goals. On the brighter side, UKG Labs provides a platform for startups to co-learn, co-create, and co-experiment, fostering innovation and helping businesses become better workplaces. It also allows startups to gain insights into specific market problems where UKG has expertise and work directly with UKG customers to explore new solutions and shape emerging HR and HCM technologies. This collaboration ultimately serves to enhance the workplace experience for all.

Read More

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