Powering Global Remote Team Through Employment Compliance

My name is Austin. Currently the head of partnerships here at Slasify. One of my roles within the business itself is to generate partnerships that create within the ecosystem of our service and our business. And hopefully, I will be able to explain a little bit more about my role in the company throughout this podcast today.

I’m Zac. So I’m the growth director of Slasify. And I’m overall in charge of the Business Development Department, the marketing department and the vendor relations department. So a couple of things about my job scope is I’m here to define the company’s internal and external growth plan to coordinate and execute the growth programs and to optimize the revenue funnel. Great.

My name is Jasmine, I am the vendor management lead at Slasify. I am in charge of sourcing service providers, building partnerships with our vendors, maintaining relationships, and also supporting specifies global expansion plan by registering new entities in different countries around the world.

So in one liner, I suppose basically, what we do is we empower companies to grow their team remotely, and by extension, enable them to grow their market share through our proxy, hiring business model, or co-employment business model. So a couple of our services would include hiring of independent contractors remotely and globally. And hiring of full time employees globally and remotely.

That would mean that the entire payroll processing, the administration of contracts, and the administration of payments, and registrations of payments for social contributions is all taken care of from our side. We do have a platform that is robust with multiple modules, so that HR personnel will be able employees also be able to do certain things like clock-in and clock-out for work.

And there’ll be our time and attendance module, filing for certain expenses like reimbursements as well as subject to approval, applying for leave and getting the leave approved by the HR or the manager in charge as well. So a couple of things are in a nutshell, Slasify’s platform and our services enable companies to grow and their team remotely, and grow their market share through through using our services.

Basically it’s all about compliance, every hire will be subject to the local labor laws of the country. So whether it’s hiring contractors, even though contractors, regulations are lacking when it comes to contractors, for most countries, we do have to observe in terms of compliance.

And at the same time, and especially when hiring full time employees, there’ll be these employees be subject to local labor regulations of those countries. So for example, in Singapore, hiring full time employees would be dated, the employer will need to contribute both for the employees and for them on the employees part as well, what we call CPF, or the central Provident Fund.

There’s also leave entitlements for privileges and entitlements that employees need to observe as well, to make sure that they’re not shortchanging the employees. And following the laws and regulations of those countries. I believe Austin will be able to add on more as the operational as the former head of operations, when it comes to the operational aspect and the compliance part of it. Austin?

Yeah, definitely. A lot of of companies at this point of time, some of the pain points that they have is, how do I expand my team, you know, globally, with regards to being compliant with the local laws. So previously, what tends to happen is that a lot of this companies would hire independent contractors, and the independent contractors would get somehow scammed out of their money, scammed out of the taxes that they’re supposed to pay, and things like that.

At Slasify, we solve that issue by providing a legal avenue for this employees to be hired by the companies. And obviously, the business model is more towards taking over the risks of the clients. So now why, why is that such an important aspect, you know, to the client is because just put yourself as an employee, and if a foreign company hires you, and you don’t get any of the benefits that a locally hired employee gets, obviously that would cause some concern regarding what happen then if I ended up in the hospital? Do I get covered by medical insurance? Because independent contractors back then they don’t, you know. So now we are in that position where we can offer this to the employees.

And this is one of the factors on why clients would want to use Slasify. So Slasify is very well-versed in all this compliant matters. Especially in countries where they are not located in (the clients). So an example of this would be, a client comes to me and asked me, Hey, Austin, okay, I need to hire someone in Taiwan. What are the compliance matters that I need to take over with? So obviously, I will tell them, you need to get an employment contract that is legal within the country, you need to enroll this person in the National Health Health Insurance Scheme, and so on and so forth.

So a lot of this clients, typically, when they go to Slasify, they have a very simple issue, how do I hire my employee in that country, so that they are happy to work for me? So, you know, to cut it short. This is what Slasify provide, we provide compliance, we provide a security to the employee that they will not be treated wrongly by their employer.

To touch on as well to what Austin’s mentioned, There’s a component of risk mitigation as well, where we provide to our clients, or the employers by proxy. So through our core employment, our partners become the legal employer of these employees, therefore, the employer risk is offloaded from the end client to us or our partners, right. So that eliminates the risk almost entirely for employees to be able to end the burden of compliance and the burden of any possible risk or lawsuits will be on our shoulders. So that is one of the best things about engaging our services.

I’d like to add on to that as well, with regards to some of the feedback that I’ve gotten from some of the clients is that Slasify, in very simple terms, we save the client time. Essentially, that’s what we do as well, because we act as the HR department for the client so all of this administrative works like sourcing the employment contract, that’s what we already have in-house, and we are able to provide that on the spot to the employee. Number two, we are also able to send out salaries at a timely manner, basically your payroll and all of that, which saves a lot of time on the clients.

So all they have to do is run operations as usual. And at the end of the month or beginning of the month, their employees get paid. And all we have to do is tell our clients this is what your employees are getting paid this month, please just approve, and then we will move forward. So it saves them a lot of time. I think from the from the past feedback that we’ve received, we’ve saved clients up to 75 man-hour per month, with regards to filing the payroll and then paying out the employees. So this is also a benefit of using Slasify where you can focus on the important matters of your business, while giving the administrative work over to us.

So I joined Slasify in 2021 as an operations intern, and then I turned part time as an operations executive, and now working full time as the head of vendor management. So it says a lot like vendor management as a department actually didn’t exist until around 2 months ago. I think that says something about how our business is growing in different ways.

As Austin mentioned, Slasify is really aiming to be this one stop shop, that could provide our clients solutions to all things related to remote hiring. So that’s, that just doesn’t include only include local payroll or employer of record, which is our specialties. Sometimes the clients also require services for immigration, recruitment and background checks. So it is my job to source vendors, service providers, that obviously have to align with Slasify’s company vision and work ethics to provide that additional service or value to our clients.

So basically, we do all the, all the sourcing all the vetting, and sometimes that additional value or service we are able to provide to the client is the key factor of them deciding to work with Slasify and trust us. Knowing that Slasify would always go that extra mile for our clients.

Also, another part of my job is as Zac mentioned before, there’s risks involved, especially when we’re acting as the employer of record for our clients and kind of bearing the risk for them. So I also play a role in our company’s risk management strategy. I work really closely with our vendors, and I assess their financial stability. I review their security protocols, data protection policy, and also to the most important part really to ensure compliance with the local laws and regulations.