Velocity Global Release Notes Internal
2023
May 2023
NEW
Employer of Record
Lever integration presents a distinctive recruitment tool that streamlines the identification, engagement, and hiring of top candidates for businesses. Velocity Global Work Platform™ seamlessly integrates with HR and hiring managers, allowing for easy scaling of a smooth, global hiring-to-onboarding experience.
Lever’s integration gives customers the following:
- Better visibility with a 360-degree view of the employee lifecycle from recruitment to compliance and HR
- Better analytics through a myriad of analytical staffing reports, from diversity recruitment to time to hire
- Increased efficiency through less copying and pasting of data from the applicant tracking system (Lever) into the Global Work Platform™
- Reduced errors related to manual data entry
ENHANCEMENTS
Global Work Platform™
Improved Navigation: On Our Global Work Platform™. It offers an improved user experience that makes managing your workforce more seamless and intuitive.
Enhancements Include:
- Improved navigation. The updated interface provides easier and quicker navigation, reducing the effort needed to execute tasks.
- Enhanced user experience. The user experience has been refined for a more streamlined approach to managing your global workforce.
- Increased visibility. The modified interface makes data easier to find—minimizing employee errors and reducing the need for IT support.
April 2023
NEW
Employer of Record
Namely Integration. Simplify Employee Record-Keeping. Seamlessly transfer information to Namely from our Global Work Platform™.
You don’t need to juggle multiple platforms to manage talent across countries. Our Global Work Platform™ integrates with Namely so you only have to enter and update employee information in one place.
- Comprehensive Field Mapping - Transfer a full range of data, from currency and start date to employee type and supervisor
- Real-Time Synchronization - Updates happen right away so you don’t have to wait for data
- Greater Workforce Visibility - Get an overview and data unification for your entire global workforce
Efficient Onboarding and Management - Quickly get talent up and running, reduce manual data entry, and avoid duplicate records
January 2023
NEW
Employer of Record
Greenhouse Integration. Velocity Global simplifies the hiring process for HR Managers via our integration with Greenhouse, an applicant tracking system (ATS). Once talent is ready to onboard, our bidirectional flow allows,
- Quickly and easily sync candidate information from Greenhouse to our Global Work Platform™ with a click of a button
- Trigger an applicant to be marked as ‘Hired’ in Greenhouse as soon as the candidate approves their offer letter
- Auto-generate a new candidate profile within the Global Work Platform™
- Reduce your overall onboarding time
- Eliminates manual data transfer and unnecessary errors between systems
Equity Program
Global Equity Program. Velocity Global is launching the Global Equity Program, a compliant, locally tailored solution that makes it easy for customers and talent to provide and receive equity. This solution is designed in partnership with leading international legal firms to offer a unique streamlined experience that includes,
- Comprehensive Service: Velocity Global handles everything from assisting with withholding rates, payroll processing, supplemental reporting, plan registrations, and more.
- Worldwide Compliance: Velocity Global internal experts work closely with internationally renowned consultants to ensure equity awards meet local reporting requirements.
- Versatile Awards: Velocity Global makes it easy to issue a variety of award types including stock options, stock appreciation rights, restricted stock units, and phantom awards.
- Fast, Expert Support: comprehensive resource center and dedicated equity compensation team for answers to key questions about global equity.
Partnership with Upflex
Office space for supported employees through Upflex. Velocity Global and Upflex, the world's leading flexible workspace solutions provider, have partnered to provide supported employees with office space located in more than 120 countries, with over 10,000 locations. Our clients and employees can now benefit from unlimited access to flexible desks and on-demand access to private offices, conference rooms, and airport lounges while saving up to 42% on office space.
ENHANCEMENTS
Medical Benefits
New medical plan design for U.S. Velocity Global’s U.S. Medical Benefits have been redesigned to offer an improved client and employee experience by enhancing access to comprehensive medical coverage. Clients now have the ability to choose a premium contribution amount that best fits their budget; while full and part-time supported employees have an array of affordable medical coverage options to choose from.
Enhancements Include:
- High deductible plans
- HSA Plan
- Access to medical plans for Part-Time employees
- No Underwriting
- Access to group policy pricing for one to one thousand plus employees
- Flexible premium contributions
2022
December 2022
NEW
Medical Benefits
Expansion of our localized supplemental benefits program in China. Local Medical and Life Insurance plans are now available in China through insurance carriers Cigna and Ping An. Cigna and Ping An are leading providers of supplemental medical insurance benefits in China, are financially strong, and are well-recognized locally for providing superior coverage and service. This enhancement will allow for a more localized and cost-effective solution for our clients and supported employees in this region.
ENHANCEMENTS
Contractor Payments
New Country Support - South Korea. Clients can now pay contractors located in South Korea.
November 2022
NEW
Employer of Record
Invoice Dashboard. The enhanced Invoice Dashboard provides you with a clear, consolidated, and itemized view of all past and present invoicing from January 1, 2019. Log into the Global Work Platform™ and navigate to the Company Profile tab to access your Dashboard.
September 2022
NEW
Medical Benefits
International Supplemental Benefits. Supported employees now have access to comprehensive supplemental medical benefits in 185+ countries. This solution will enhance our client's hiring and retention capabilities by providing top-up supplemental benefits packages commonly offered in nearly all regions around the world.
The program includes:
- International and local supplemental medical plans
- Life, AD&D, Dental and Vision
- Global yet localized approach in plan design
- Group policy pricing is available regardless of employee headcount
- Expertly curated and well-recognized providers
- Competitive and Comprehensive top-up medical and life insurances plans
ENHANCEMENTS
Contractor Payments
New Country Support. Clients can now pay contractors located in Bulgaria, Denmark, Egypt, Norway, and Romania.
July 2022
NEW
Medical Benefits
Expansion of our localized supplemental benefits program-Mexico. Local supplemental medical, dental, and vision plans are now available in Mexico through MetLife. MetLife is one of the largest recognized medical provider networks in Mexico and is well-recognized locally for providing superior coverage and service.
May 2022
NEW
Employer of Record
Insights Dashboard. Get actionable insights into your business with robust reporting that allows you to interact with supported employee data. HR and Hiring Managers can track key hiring metrics to make data-driven decisions on global workforce. Use the dashboard to easily:
- Visualize and monitor performance
- Discover actionable insights
- Inform your business goals
Supported Employee Cost Calculator. Instantly calculate the cost of a supported employee using our Employer of Record (EoR) self-quoting tool. You can quickly see a breakdown of monthly employment costs to help guide your international hiring decisions. This calculator allows HR and Hiring Managers to:
- Leverage our database of centralized global employment data points to receive an accurate quote in realtime
- View a detailed breakdown of potential employment costs
- Compare and contrast costs within different global markets
- Consolidate quotes into one list view
- Search, sort, and download your list of quotes
February 2022
NEW
Contractor Payments
Contractor Pay for Clients. Our new Contractor Pay solution automates pay for your contractors worldwide. You can easily:
- Onboard new contractors
- Approve invoices and issue payments in different currencies
- Store essential contractor documents
- See a complete payment history for each contractor
- View your entire contractor workforce on one map
- Mitigate risk with know-your-customer (KYC) and anti-money laundering (AML) best practices
Contractor Pay for Talent. Our new Contractor Pay solution automates getting paid by clients easily:
- Submit invoices and monitor their approval status
- Get paid in your local currency
- Upload contracts, scope-of-work, and other important documentation
January 2022
NEW
Employer of Record
Expanded Global Mobile Access. Our mobile platform is now localized for the following languages:
- English
- Spanish
- French
- Swedish
- Swiss-German
- Japanese
Mobile Time Tracking. Talent can track their work hours from their mobile device. Start and end times can be easily logged with hour increments.
2021
October 2021
NEW
Employer of Record
Mobile Profile Viewing By Country for Talent. Newly onboarded employees and contractors can see their complete profile on mobile, gaining instant access to all their personal and employment information. We’ve also customized the user experience by country, so talent only sees information relevant to their region.
Global Workforce Dashboard. Managers now have visibility of their entire distributed workforce at once. Through the Global Dashboard, managers can see a map with pins wherever they have talent supported by Velocity Global. Simply hover over a pin to instantly see the number of workers and their statuses in each country. Then, click to access their information right from the map.
ENHANCEMENTS
Employer of Record
Mobile Hours and Time-off Requests for Talent. Requests for time off can be submitted through the mobile app, allowing for reviewing and monitoring status submissions prior to submissions and monitoring status updates on mobile.