PYMNTS

Dubbed “Payrocks,” the group was launched to “deliver high-quality HR services through authentic local experts, ensuring local knowledge and full compliance with local legislation,” its members said in a Monday (Dec. 11) news release. 

The “Payrockers,” as they’ve called themselves, include ZetaService (Italy), Grupo Atisa (Spain, Portugal), Contract Administration (Poland, Czech Republic, Slovakia), Paychex (Germany), Securex (Belgium, Netherlands, Luxembourg), PayCaptain (U.K.) and Nibelis (France). The group is led by Thierry Vanbever, an expert in human resources and payroll and founder of LetzHR.

“We are joining forces to strengthen local solutions through our international power,” Vanbever said. “The focus is on more local quality and better service for global customers.”

The news release said analysts claim that the notion of a “one global service solution” doesn’t work, a view shared by global companies, who have had bad experiences with international payroll providers.

“The truth is that there is a lack of direct contact with local salary experts, and payroll is often managed by offshore competence centers,” the release said. “This multilevel communication results in significant friction losses. The conclusion is obvious: Payroll is local. Hybrid is normal.”

The launch comes at a time when nearly 80% of workers say they want their pay to arrive quicker, with nearly 80% opting for instant payouts, according to PYMNTS Intelligence.

“Data analysis showed that consumers receiving income and earnings payouts are the most likely to opt for instant transactions,” PYMNTS wrote recently.

“The trend holds true across all disbursement categories, from government and nongovernment entities to insurance claim payments and loan disbursements. Notably, consumers receiving payouts for income and earnings surpassed the average, choosing instant transactions 77% of the time.”

And as reported here earlier this year, research has shown that payroll delay is endemic among the American workforce, particular for gig workers. 

Studies have found that nearly three-quarters of freelance workers have not received their pay on time, with 20% getting paid one day late and 16% saying that they regularly do not get paid for up to two months after they anticipated.

“While freelancers feel the most acute payment delays, salaried employees are no strangers to payroll delays, either — even those who receive their paychecks via a regular biweekly schedule often report financial difficulties when waiting for their next pay period,” PYMNTS wrote.

Original source : https://www.pymnts.com/payroll/2023/payroll-firms-partner-to-launch-payrocks-to-offer-local-expertise/