The Changing Landscape of Global Employment

Demand for overseas employees has surged, and “improving efficiency” and “reducing costs” have become the core objectives of its global human resources work. The traditional manpower mode can hardly support such a labor scenario. Safety and compliance, low cost and high efficiency, as well as flexibility, in the vast tide of Chinese-funded globalization, the global demand for employment is clearly showing a more diverse, complex and personalized trend of change.

“Reinventing” Global Employment Services with Technological Innovation. As the leading SaaS-based remote management and payroll platform for global teams in China, PayInOne has stood out in the industry with its forward-looking technology and pragmatic solutions since its foundation.

Caixin Magazine Interview with PayInOne Founder

Recently, Caixin Magazine, an authoritative media outlet in the fields of finance and economics in China, has paid great attention to PayInOne’s transformative move and invited its founder to participate in an in-depth interview.

The interview discussed PayInOne’s entrepreneurial history, core technology, development strategy, and future vision. Below is the original interview report:

Introduction

Earlier this year, Silicon Valley Bank in the US declared bankruptcy due to insolvency. Before its collapse, it was one of the banks with the most deposits in Silicon Valley. As a result, the accounts and payroll services used by many Chinese and multinational companies were greatly affected. During this time, as a global employment and payroll management platform supporting payments in over 120 major currencies, PayInOne helped customers make timely salary payments through its SaaS platform.

Similar cross-border payroll scenarios are on the rise. How to use compliant and efficient HR systems to cope with or facilitate overseas business growth has become a problem facing many companies going global, and has also placed higher demands on global HR services.

Diverse, Complex, Customized – Global Employment Demands are “Upgrading”

The continued increase in overseas hiring means traditional models can no longer meet new demands.

Legal and cultural differences between countries are significant, posing compliance challenges for global employment. There are distinct differences globally in laws, cultures, employment practices, overall hiring processes, payroll payment and management processes, etc. Any oversight can easily lead to compliance risks. “Even large companies with abundant capital and resources seem to have an inherent information barrier when it comes to overseas markets,” observes Founder Lin Tan.

International conditions are complex and changeable, hiring methods are increasingly diverse, and overseas team management needs greater flexibility. The international situation today is more complex and volatile than ever before. Overseas team management systems need stronger overall and adaptability capabilities. At the same time, with the changes in employment practices like remote work and flexible work, traditional reliance on manpower and geography makes it difficult to respond effectively.

With overseas businesses booming, HR management urgently needs an “efficiency revolution”. Verifying information and handling compensation and benefits for overseas employees relies heavily on manual communication via email, phone, and in-person meetings, but manual workforce is limited by regional units. “Wherever companies hire people or pay salaries overseas, they have to find local service providers,” Lin Tan explains. The management and communication costs from this multinational, multi-region coordination, along with other dependencies, restricts the global expansion of enterprises, “especially during the rapid overseas expansion phase of a company,” he adds.

Take a customer from the manufacturing industry’s overseas business, for example. With its rapid overseas growth, the number of overseas employees has surged dramatically. “Improving efficiency” and “reducing costs” have become the core goals of its global HR work, while the traditional manpower model is obviously insufficient. Requiring both safety compliance and low-cost high-efficiency as well as flexibility, the changing global employment demands are clearly trending towards more diversity, complexity, and customization amidst the massive wave of Chinese companies going abroad.

Reinventing Global Employment Services with Technological Innovation

At that time, Lin Tan, who was looking for new entrepreneurial directions after returning to China from Silicon Valley, keenly captured this change. After gaining in-depth understanding of multiple fields and entrepreneurial attempts, Lin Tan believed that global employment and payroll management was an industry that could be transformed by technology.

Provide end-to-end global employment and payroll management solutions for overseas companies.

PayInOne has independently developed a global employee management SaaS platform to provide overseas companies with end-to-end management solutions including hiring, contract signing, salary payment, etc., enabling “one-stop” management of global resources covering overseas employees, cross-border payroll, benefits, local regulations, taxes and employment security, lowering the barriers to cross-border hiring. “The core of this is using technology to drive full-process HR management and accurate payroll settlement,” says Lin Tan. With the vision of creating a brand new globalized employment model to provide overseas companies with one-stop global employment and payroll management solutions, PayInOne was born.

PayInOne workflow

Help overseas companies fully comply with regulations on global employment. Compliance is a major risk area for global employment. PayInOne provides several targeted solutions and incorporates risk avoidance measures into the process from hiring models, contract settings, salary systems, etc.: The online contract signing service module has non-editable audit disciplines to fully track every operation on documents and adds timestamps to ensure traceable and trackable access, review, and signing. The compliance content service module summarizes hiring guidelines for each country for customers, including laws, regulations, policy changes, labor protection, investment policies, admission thresholds, etc. “We’ve encountered many companies focused only on aggressive overseas expansion without caring about compliance, facing the risks of huge fines because account, tax, or even corporate structure issues arose by year-end,” says Lin Tan. “Through professional processes, PayInOne hopes to help customers proactively avoid compliance risks.”

PayInOne Global Employment and Payroll Management Platform

Support diverse hiring models – online contract signing can be completed in 5 minutes. Global employment demands are now more complex, involving various hiring models beyond traditional full-time contracts, like on-demand, KPI-based, long-term part-time contracts. Streamlining regulatory procedures and templates for hiring in each country, online contract signing can be completed in 5 minutes without manual intervention.

Upgrade payroll management to significantly reduce HR costs. Through its global payroll inquiry system and one-stop management platform, PayInOne helps companies effectively reduce labor costs. The system supports companies in formulating global employment schemes, enabling automated statistics and accounting of expenses like salaries, benefits, and taxes instead of manual work. The bulk payment feature enables one-click payment for employees across multiple countries and currencies.

On the journey of building global teams, PayInOne has provided clients with full overseas employment services, using digital HR management to empower rapid overseas business expansion and help clients achieve efficient, cost-reducing global employment needs. “At the same time, we deeply understand that companies need clear cost control and predictable operating expenses on the road to globalization. So regardless of client size or acquisition channel, our services and pricing are clear and consistent,” Lin Tan adds.

Significant Efficiency Improvements and Effective Cost Reduction

PayInOne’s innovative achievements are bringing new momentum to many companies expanding their “global footprint”.

As a multinational industrial group, CIMC has over 30000 member companies globally, with sales networks covering over 100 countries and regions worldwide. Its vast global employment needs and business personnel coverage face limitations in global HR development, especially in areas of local HR compliance, real-time efficiency and performance, posing many challenges.

As the first in China to adopt a SaaS model global team remote management and payroll platform, PayInOne’s efficient, standardized products have won market trust to become CIMC Group’s global employment partner. Currently, PayInOne aims to help CIMC Group legally and compliantly hire and manage overseas employees, and quickly respond to their hiring needs in different countries and regions. PayInOne also conducts targeted global talent planning based on CIMC’s business development needs.

PayInOne’s technological innovations have also brought huge changes to the global employment and payroll management industry. Lin Tan’s vision of “transforming the industry” is becoming a reality. Work that previously required multiple regional service providers can now be handled by just one. Also, “with PayInOne’s one-stop platform, one HR can manage 100 global employees, but using traditional methods, managing 100 global employees in different regions would require dedicated HR, finance, legal roles in each region, totaling dozens of staff,” Lin Tan explains. Costs are also greatly reduced – since entering the global employment and payroll management industry, “PayInOne has driven overall prices down by more than half.”

Going forward, PayInOne will continue pushing technological and model innovations, with smarter, more open technologies and more agile, efficient models, to provide safer, more efficient global employment support for Chinese companies continuously setting sail worldwide.