Papaya Global Vs Namely – Countrypedia Payroll Data 2024

To deal with these problems, executing practices and advanced software application… Papaya Global Vs Namely

Guaranteeing prompt and accurate pay for your employees is important for a flourishing organization, as it considerably impacts worker joy and loyalty. Offered the numerous payment techniques like checks, payroll cards, and direct deposits accessible now, companies need versatile payroll systems that guarantee accuracy and effectiveness. Handling payroll without delay and precisely is crucial to deal with different payroll requirements, such as different pay schedules and employee payment preferences.

Contracting out payroll can provide the required resources and support to develop an economical system that lines up with your company’s requirements. In this thorough guide, we’ll explore the very best practices for paying employees, compare different payment methods, and emphasize crucial considerations for setting up a dependable and certified payroll procedure. Let’s dive into the essentials of how to pay your workers efficiently.

Defined as monetary transactions in which both sides– the payer and the recipient– lie in different countries, cross-border payments make it possible for worldwide trade and globalization. Enhancing them can help worldwide business conserve expenses, alleviate regulatory and cyber risks, boost visibility and transparency, and guarantee compliance.

Nevertheless, the management of cross-border payments deals with significant challenges. Research study suggests that existing practices are often inefficient, leading to increased costs and time delays. Organizations regularly encounter reduced productivity, higher labor demands, pricey payment fees, and strained relationships with providers due to these inefficiencies.

, such as an advanced worldwide payments system, is vital for improving the effectiveness of cross-border payments.

Cross-border payments are utilized for a range of factors, such as worldwide trade, global contributions, or travel. Here a couple of uses for cross-border payments:

Worldwide trade: Paying for items or services from overseas providers, or collecting payments from foreign customers.
Travel: Acquiring services (e.g. hotels, flights, or trips) during worldwide travels
Remittances: Sending out cash to relative and pals abroad
Financial investment: Buying stocks, bonds, and property in other nations, and receiving make money from those investments.
International contributions: Permitting individuals and organizations to donate to charities and nonprofit organizations in other countries
Cross-border payment approaches
Cross-border payment methods are important for assisting in deals between parties in different countries. Typical cross-border payment techniques consist of:

this area includes all our assistance Basics like the papaya knowledge base where you can discover countrys particular details support posts to help you utilize our platform resources you can use call us and the portal of your requests select contact us to submit any request to our group here you can see all the subjects such as Labor force payroll payments or moneying technical support requests related to your papaya account and

How to Pay Employees – Payroll & Payments

Combinations to submit a request click the pertinent topic and subtopic and a kind will open make sure you thoroughly choose the appropriate topic and subtopic to guarantee we direct it to the pertinent papaya expert fill the kind with as numerous information as possible to allow us to handle the demand in a fast and effective method now that the request has actually been sent the papaya group is on it and we’ll update you as rapidly as possible if you can not discover a relevant topic you can constantly use the demand system to submit a demand directly to your account supervisor by clicking contact us at the bottom of the window you will receive a notification e-mail on your request’s

 

production if any extra info is needed and completion your demands are offered for your View utilizing the your request button once chosen you will be directed to the papaya demand portal in this website you can see all requests open through the papaya platform and their status users with a finance manager role can see all the requests open for the organization consisting of demands opened by employees through the papaya individual you can interact with our specialists utilizing the website or through the mail all interaction will be available for viewing on the website of your requests

Wire transfer
A wire transfer is an electronic transfer of funds from one savings account to another. When used for cross-border payments, it involves the motion of funds between accounts held at various financial institutions in various countries. The sender will require details such as the getting bank’s name, address, and bank identifier (routing number, IBAN, or SWIFT code).

Intermediary banks are often utilized in cross-border transactions, especially those with different currencies, to aid in the transfer procedure from the sender’s bank to the recipient’s bank. The period of a wire transfer’s completion might vary based upon elements like the particular banks, the countries of both the sender and recipient, and the existence of intermediary banks.

Wire transfers may result in costs for both the sender and the recipient. These charges may encompass deal charges, fees for currency conversion, and costs for intermediary. Wire transfers are generally deemed to be safe, as they require direct transfers between banks.

International wire transfers.
This global payment technique can exchange funds immediately however comes with high service transfer costs of over $50. For a $500 wire transfer, a $50 cost would be 10% of the total transfer. For considerable transfers, a $50 cost may make more sense.

Normally however, wire transfers are not practical for big transfer volumes due to costly transaction costs. They likewise do not have traceability. As routing rules differ from nation to country, wire transfers are not the most effective option for worldwide business-to-business (B2B) deals.

elect Employee Compensation Type
Wage Pay
A set type of compensation that is paid routinely to knowledgeable and/or full-time workers, together with those in supervisory functions.

Hourly Pay
When workers are paid per hour for their work. This payment choice is typically given to unskilled/semi-skilled workers, part-time temporary, or contract employees.

Commission
Staff members working in sales frequently deal with commission, a kind of compensation based on a fixed sales target/quota.

International AHC
Likewise called International ACH, an international ACH is an easy way to pay abroad suppliers and affiliates. International ACH payments can be made through numerous entities, consisting of SEPA, BACS, and banks. They are a cost-efficient and hassle-free option. The drawback to Global ACH payments is that it’s time time-intensive. Transfers can take days to process. ACH payments are perfect for large volumes of payment routinely.

What is an Employer of Record? Papaya Global Vs Namely

Employers need to have the payee’s International Checking account Number (IBAN) and other account details to complete the process.

Staff Member Taxes and Deductions Computation
Staff members should submit some types, like the W-4 (which shows just how much money to withhold from a staff member’s incomes for taxes) and an I-9 (confirms the identity of your employee and work authorization), in order for you to process payroll.

Now there’s a couple of steps to calculating staff member taxes. First, you’ll need to determine their gross pay. Calculations differ between various types of workers (per hour, salaried, or commission).

To determine an employed staff member’s gross pay, take the number of pay periods in a year and divide it by your staff member’s yearly income.
Then, see if your worker has pre-tax reductions. If so, take the pre-tax deductions and subtract them from gross pay.

Now you compute the tax withholding from your worker’s earnings, which includes federal earnings taxes, FICA taxes (includes Social Security and Medicare), state and regional income taxes (if applicable), and state-specific taxes. (Keep in mind to also pay company’s taxes on your workers’ paycheck).

Try not to fret about doing math all by yourself, there’s lots of accounting software application out there to do the heavy lifting.

Payroll cards
Payroll cards are pre-paid cards provided by companies to their workers as an approach of disbursing earnings. While payroll cards are not naturally style Cross border transaction ed for cross-border payments, they can be used in a cross-border context when released by worldwide card networks such as Visa and Mastercard.

Payroll cards operate likewise to debit cards; staff members can use them to make purchases, withdraw cash from ATMs, and perform other financial transactions. If staff members use their payroll card in a nation with a various currency from where it was issued, the card might automatically perform currency conversion at dominating exchange rates.

While payroll cards can help with cross-border deals, there are factors to consider such as foreign transaction charges, currency conversion fees, and constraints on global use. Staff members need to know these factors to make informed decisions about using their payroll cards abroad.

An international bank draft is a payment instrument offered by a bank for the payer. The recipient can deposit the bank draft at any bank, similar to a cashier’s check. It is frequently utilized for international payments, especially for substantial transactions like realty acquisitions, tuition costs, or other high-value cross-border deals that demand a protected and assured payment technique.

Generally, a consumer who requires to make a payment in a foreign currency requests a worldwide bank draft from their bank. The client pays the equivalent amount in their local currency to the bank, plus any relevant costs. This amount is utilized to protect the global bank draft.

The bank problems a worldwide bank draft– a document resembling a check. International bank drafts often consist of security features such as watermarks, holograms, and other steps to prevent forgery and ensure the file’s credibility. The funds are credited to the payee’s account after the draft is cleared.

E-wallets
E-wallets, or electronic wallets, have become a popular and hassle-free cross-border payment approach in the digital period. An e-wallet is a digital account that enables users to shop, manage, and transact funds electronically.

Users can produce an account with an e-wallet company by offering individual information and linking their checking account, credit/debit cards, or other funding sources to the e-wallet. To utilize an e-wallet for cross-border payments, users need to money their e-wallet accounts. This can be done by moving money from connected bank accounts, using credit/debit cards, or getting transfers from other users.

Lots of e-wallets support numerous currencies, permitting users to hold balances in different denominations. E-wallets utilize various security procedures to secure user accounts and transactions. This might consist of two-factor authentication, file encryption, and scams detection systems to make sure the security of funds during cross-border transfers.

Paypal
PayPal is convenient, however there are a couple of notable downsides: 1. They have high deal costs 2. There is no policy on how funds are held. One payment might clear quickly, while another of the very same quality might take several days. PayPal payments between the sender’s and recipient’s wallets may require the recipient to make a transfer to a regional savings account.

In 2023, a Challenger, Grey, and Christmas survey found that just 1.6% of job candidates moved for their new position.

According to the survey, these are the lowest relocation levels for any quarter considering that 1986, however that doesn’t imply experts aren’t thinking about international mobility.

Wakefield Research for Graebel Companies Inc reported that 59% of employees stated they were more happy to relocate for work in 2021 than in previous years, with 31% going to transfer worldwide.

The gap in moving numbers and those thinking about moving could be explained by company relocation policies.

What is a business moving policy?
A moving policy or a business relocation policy is an employer-sponsored benefit bundle that covers the monetary and logistical elements that help staff members effortlessly move for work. Employers might relocate workers to establish brand-new workplaces to support their growth.

A business relocation policy may cover legal, financial, cultural, and communication aspects.

Companies typically have particular goals they wish to attain through their corporate moving policy. This is different from a work-from-anywhere (WFA) policy, where workers select to operate in a various place for personal factors, such as enhanced joy or financial factors.

In addition, WFA policies do not generally consist of company-provided advantages, where moving policies may.

With workers going to move, organizations may wish to develop or revisit their business moving policies to ensure it contains crucial aspects that protect companies and staff members.

A comprehensive moving policy for a business includes different important aspects such as the range who is eligible, the advantages offered, the expenses included, the expected return date, and more. Below is a summary of the important components that must be detailed:

Purpose and scope: clearly articulates why the policy exists and whom it covers
Eligibility requirements: defines which employees receive relocation help
Relocation advantages: lays out the support and services supplied (ex. moving expenditures, housing support, travel allowances and more).
Expense protection: defines what costs the company covers and any limitations or caps.
Period of benefits: stipulates the length of time the advantages last post-relocation.
Return responsibilities: details any dedications the staff member need to meet if they leave the business after moving.
Claims: covers how employees can claim moving benefits.
Loss of reimbursement rights: covers whether workers lose moving compensation rights during dismissal or voluntary termination.
Non-reimbursable costs: lists any expenses the company will not cover.
Moving support: details the company supplies on the new place.

Family work assistance: a prepare for how the company will assist staff members’ relative discover work.
Repayment: specifies whether staff members should pay the business back if they leave the company within a particular timeframe.

Beyond setting expectations around eligibility, duties, and finances, improving a relocation policy offers additional positive outcomes. Papaya Global Vs Namely

Paper checks.
When an international affiliate can not provide bank routing details, entities can use paper look for worldwide cash transfers. Senders will require the payee’s name and address for mailing.Removing stopped working payments.

One such solution is Papaya Global. The only unified payroll and payments platform, Papaya established the very first technology clearly created for paying workers across borders: the Workforce Wallet. Supporting all work categories– payroll, EOR, and contractors– the Labor force Wallet accelerates payment processing by 80%, boasts a 95% same-day delivery rate, and minimizes failed payments to less than 0.1%.

Papaya’s success in eliminating failed payments results from lowering manual processes to the bare minimum. It begins with our AI-powered HCM Cloud Port. This innovative tool permits customers to incorporate data from any system in an hour (!) and link it all under one dashboard, which operates as the heart of your labor force payments operation.

Our numbers speak louder than words:.

By integrating payroll and payments into a single system, automation can be accomplished from start to finish, resulting in considerable time cost savings and minimized manual work. The platform enables real-time synchronization of payment details, automatically updating changes such as beneficiary name or address information, therefore getting rid of redundant steps, stream need for manual intervention. This combination has caused notable improvements, including a 90% reduction in data processing time, a 30% decline in payroll processing time, and a 95% reduction in manual information synchronization.

“In a climate where organizations need their cash to work harder than ever,” concluded LexisNexis Danger Solutions’ Metzger, “Organizations anticipate the payments operate to contribute higher strategic value at the enterprise level by helping extend capital effectiveness.” Raising the performance of your labor force payments– the greatest cost at most companies– would be an excellent start.

Papaya Global Vs Namely – Hiring, Paying & Managing 2024

To deal with these problems, executing practices and advanced software application… Papaya Global Vs Namely

Guaranteeing timely and precise pay for your staff members is important for a thriving company, as it significantly impacts employee happiness and loyalty. Provided the different payment methods like checks, payroll cards, and direct deposits available now, companies need flexible payroll systems that ensure accuracy and efficiency. Managing payroll promptly and properly is important to attend to numerous payroll requirements, such as different pay schedules and staff member payment preferences.

Contracting out payroll can supply the essential resources and assistance to develop an affordable system that aligns with your business’s needs. In this thorough guide, we’ll check out the best practices for paying workers, compare numerous payment techniques, and highlight crucial factors to consider for setting up a reliable and compliant payroll process. Let’s dive into the essentials of how to pay your workers efficiently.

Defined as financial transactions in which both sides– the payer and the recipient– lie in separate countries, cross-border payments make it possible for worldwide trade and globalization. Enhancing them can assist worldwide business conserve costs, reduce regulative and cyber threats, boost visibility and openness, and guarantee compliance.

However, the management of cross-border payments deals with considerable obstacles. Research study suggests that current practices are frequently ineffective, leading to increased costs and time delays. Businesses frequently encounter minimized efficiency, higher labor demands, pricey payment costs, and strained relationships with providers due to these inefficiencies.

, such as an advanced global payments system, is important for enhancing the effectiveness of cross-border payments.

Cross-border payments are used for a variety of factors, such as worldwide trade, global donations, or travel. Here a few uses for cross-border payments:

International deals can take numerous forms, including importing products or services from foreign service providers, exporting products overseas customers, and receiving payment for them. When taking a trip abroad, people often spend for lodgings, transport, and activities in. In addition, people regularly send out money to enjoyed ones living countries. Buying foreign markets, such as acquiring securities or residential or commercial property, is another common cross-border transaction. Moreover, many people and organizations contributions to causes in other nations. To help with these deals, various cross-border payment methods are utilized.

this section consists of all our support Fundamentals like the papaya knowledge base where you can find countrys specific info support articles to assist you use our platform resources you can utilize contact us and the website of your demands pick contact us to send any request to our team here you can see all the subjects such as Labor force payroll payments or moneying technical support requests related to your papaya account and

How to Pay Employees – Payroll & Payments

Combinations to send a demand click the pertinent topic and subtopic and a kind will open make sure you carefully pick the relevant subject and subtopic to guarantee we direct it to the relevant papaya specialist fill the form with as lots of details as possible to enable us to manage the request in a quick and efficient method now that the demand has actually been sent the papaya team is on it and we’ll upgrade you as rapidly as possible if you can not find a relevant topic you can constantly use the demand system to submit a request straight to your account supervisor by clicking contact us at the bottom of the window you will get a notice e-mail on your demand’s

 

creation if any additional info is required and completion your demands are offered for your View utilizing the your demand button once picked you will be directed to the papaya request portal in this portal you can view all demands open through the papaya platform and their status users with a finance supervisor function can see all the requests open for the organization including demands opened by workers through the papaya individual you can interact with our experts using the website or through the mail all interaction will be offered for seeing on the portal of your demands

Wire transfer
A wire transfer is an electronic transfer of funds from one bank account to another. When utilized for cross-border payments, it involves the motion of funds in between accounts held at various financial institutions in various nations. The sender will need information such as the receiving bank’s name, address, and bank identifier (routing number, IBAN, or SWIFT code).

In numerous cross-border deals, particularly those involving different currencies, intermediary banks might be included to facilitate the transfer between the sender’s bank and the recipient’s bank. The time it considers a wire transfer to be completed can vary, depending upon aspects such as the banks included, the countries of the sender and recipient, and the involvement of intermediary banks.

Wire transfers may lead to fees for both the sender and the recipient. These charges may incorporate transaction fees, fees for currency conversion, and costs for intermediary. Wire transfers are normally considered to be safe, as they involve direct transfers in between financial institutions.

International wire transfers.
This worldwide payment approach can exchange funds quickly but includes high service transfer fees of over $50. For a $500 wire transfer, a $50 fee would be 10% of the overall transfer. For considerable transfers, a $50 charge might make more sense.

Typically though, wire transfers are not useful for large transfer volumes due to pricey transaction charges. They likewise lack traceability. As routing guidelines vary from nation to country, wire transfers are not the most effective solution for global business-to-business (B2B) transactions.

elect Staff member Payment Type
Wage Pay
A set type of compensation that is paid regularly to competent and/or full-time employees, along with those in managerial functions.

Per hour Pay
When employees are paid per hour for their work. This payment choice is typically provided to unskilled/semi-skilled workers, part-time temporary, or contract workers.

Commission
Workers operating in sales frequently deal with commission, a kind of settlement based on an established sales target/quota.

International AHC
Also called Worldwide ACH, a worldwide ACH is a simple method to pay abroad suppliers and affiliates. Global ACH payments can be made through numerous entities, consisting of SEPA, BACS, and banks. They are a cost-effective and convenient choice. The disadvantage to Worldwide ACH payments is that it’s time time-intensive. Transfers can take days to procedure. ACH payments are perfect for large volumes of payment frequently.

What is an Employer of Record? Papaya Global Vs Namely

Companies must have the payee’s International Checking account Number (IBAN) and other account details to finish the process.

Staff Member Taxes and Reductions Calculation
Employees need to fill out some forms, like the W-4 (which displays just how much money to keep from a worker’s incomes for taxes) and an I-9 (confirms the identity of your worker and employment permission), in order for you to process payroll.

Now there’s a couple of steps to computing staff member taxes. Initially, you’ll need to find out their gross pay. Calculations differ in between various types of staff members (per hour, salaried, or commission).

To calculate an employed staff member’s gross pay, take the number of pay periods in a year and divide it by your worker’s annual income.
Then, see if your staff member has pre-tax deductions. If so, take the pre-tax deductions and subtract them from gross pay.

Now you compute the tax withholding from your employee’s revenues, that includes federal income taxes, FICA taxes (includes Social Security and Medicare), state and local income taxes (if suitable), and state-specific taxes. (Remember to also pay employer’s taxes on your staff members’ paycheck).

Try not to fret about doing mathematics all by yourself, there’s plenty of accounting software application out there to do the heavy lifting.

Payroll cards
Payroll cards are pre-paid cards released by companies to their staff members as a method of paying out earnings. While payroll cards are not inherently design Cross border deal ed for cross-border payments, they can be used in a cross-border context when released by worldwide card networks such as Visa and Mastercard.

Payroll cards function likewise to debit cards; workers can utilize them to make purchases, withdraw cash from ATMs, and perform other monetary deals. If workers use their payroll card in a nation with a various currency from where it was issued, the card might instantly carry out currency conversion at prevailing exchange rates.

While payroll cards can help with cross-border transactions, there are considerations such as foreign transaction charges, currency conversion costs, and limitations on global use. Employees ought to know these elements to make educated decisions about using their payroll cards abroad.

International bank draft
A worldwide bank draft is a payment released by a rely on behalf of the payer. The specific or company getting the bank draft can transfer it at any bank, much like a cashier’s check. It is a typical technique for cross-border payments, specifically for big transactions such as property purchases, academic tuition payments, or other high-value cross-border deals where a secure and guaranteed form of payment is needed.

Generally, a customer who needs to make a payment in a foreign currency requests an international bank draft from their bank. The consumer pays the comparable amount in their regional currency to the bank, plus any applicable costs. This amount is utilized to protect the global bank draft.

The bank issues a global bank draft– a file resembling a check. International bank drafts typically include security functions such as watermarks, holograms, and other procedures to prevent forgery and make sure the document’s credibility. The funds are credited to the payee’s account after the draft is cleared.

E-wallets
E-wallets, or electronic wallets, have ended up being a popular and hassle-free cross-border payment method in the digital period. An e-wallet is a digital account that permits users to shop, handle, and transact funds electronically.

Users can develop an account with an e-wallet provider by supplying personal information and connecting their checking account, credit/debit cards, or other funding sources to the e-wallet. To use an e-wallet for cross-border payments, users need to fund their e-wallet accounts. This can be done by transferring money from connected bank accounts, utilizing credit/debit cards, or receiving transfers from other users.

Many e-wallets support numerous currencies, permitting users to hold balances in various denominations. E-wallets employ different security procedures to protect user accounts and transactions. This might include two-factor authentication, encryption, and fraud detection systems to make sure the safety of funds throughout cross-border transfers.

Paypal
PayPal is convenient, but there are a couple of noteworthy downsides: 1. They have high transaction charges 2. There is no policy on how funds are held. One payment might clear instantly, while another of the very same caliber could take a number of days. PayPal payments in between the sender’s and recipient’s wallets may require the recipient to make a transfer to a local savings account.

In 2023, an Opposition, Grey, and Christmas survey discovered that only 1.6% of job hunters transferred for their brand-new position.

According to the study, these are the most affordable moving levels for any quarter because 1986, however that doesn’t imply specialists aren’t thinking about global movement.

Wakefield Research for Graebel Companies Inc reported that 59% of employees stated they were more ready to relocate for operate in 2021 than in previous years, with 31% going to relocate worldwide.

The gap in moving numbers and those thinking about relocation could be discussed by business moving policies.

What is a business relocation policy?
A relocation policy or a business moving policy is an employer-sponsored benefit plan that covers the monetary and logistical elements that assist staff members flawlessly move for work. Companies may move workers to establish brand-new workplaces to support their development.

A business moving policy might cover legal, economic, cultural, and communication elements.

Companies often have specific objectives they wish to attain through their business moving policy. This is various from a work-from-anywhere (WFA) policy, where staff members select to work in a various area for personal reasons, such as improved joy or financial reasons.

In addition, WFA policies do not typically consist of company-provided benefits, where moving policies may.

With employees going to relocate, organizations may want to develop or review their business moving policies to ensure it includes important elements that secure employers and employees.

A comprehensive moving policy for a company includes numerous important elements such as the range who is qualified, the benefits provided, the expenses involved, the expected return date, and more. Below is an introduction of the necessary elements that ought to be detailed:

Purpose and scope: plainly articulates why the policy exists and whom it covers
Eligibility requirements: defines which staff members qualify for moving support
Relocation advantages: lays out the support and services provided (ex. moving expenditures, housing assistance, travel allowances and more).
Expense coverage: specifies what costs the company covers and any limits or caps.
Duration of benefits: states how long the advantages last post-relocation.
Return commitments: details any dedications the staff member need to satisfy if they leave the business after relocation.
Claims: covers how employees can claim moving benefits.
Loss of reimbursement rights: covers whether staff members lose relocation reimbursement rights during dismissal or voluntary termination.
Non-reimbursable costs: lists any expenses the employer won’t cover.
Relocation assistance: details the employer supplies on the new area.

Household work support: a plan for how the business will assist workers’ member of the family find work.
Payback: defines whether employees should pay the company back if they leave the organization within a particular timeframe.

Beyond setting expectations around eligibility, obligations, and financial resources, fine-tuning a relocation policy provides additional favorable results. Papaya Global Vs Namely

Paper checks.
When an international affiliate can not supply bank routing info, entities can use paper checks for global cash transfers. Senders will need the payee’s name and address for mailing.Getting rid of failed payments.

One such service is Papaya Global. The only unified payroll and payments platform, Papaya developed the very first technology explicitly created for paying workers across borders: the Workforce Wallet. Supporting all work classifications– payroll, EOR, and professionals– the Workforce Wallet accelerates payment processing by 80%, boasts a 95% same-day shipment rate, and decreases failed payments to less than 0.1%.

Papaya’s success in eliminating failed payments arises from reducing manual processes to the bare minimum. It starts with our AI-powered HCM Cloud Port. This advanced tool allows customers to incorporate data from any system in an hour (!) and link all of it under one dashboard, which operates as the heart of your labor force payments operation.

Our numbers speak louder than words:.

90% reduction in information implementation processing time.
30% reduction in payroll processing time.
95% decline in manual data synchronizes.
When payroll and payments are unified under one roof, the process can be automated end-to-end. Payment details syncs flawlessly through the platform when a change– for example in bank recipient name or address details– is registered at any point while doing so, getting rid of unneeded handoffs, minimizing manual effort, and allowing smooth transfer of data throughout the journey.

“In a climate where companies need their cash to work harder than ever,” concluded LexisNexis Risk Solutions’ Metzger, “Organizations expect the payments work to contribute higher tactical value at the business level by helping extend capital effectiveness.” Elevating the efficiency of your labor force payments– the greatest cost at most companies– would be an excellent start.