Human Resources has long been a crucial aspect of any business operation, with their responsibilities exceeding simply recruiting. Whether it’s a startup looking to scale or a multinational corporation with offices across four continents, HR is often the unseen glue that holds a business together, enabling it to operate as needed.
Amid changing hybrid and remote working models and rapidly progressing technological capabilities, HR has evolved from a bureaucratic and administrative role responsible for maintaining company culture to a critical piece of most organizations’ business strategy. The internationalized and hyper-competitive job market requires businesses to modernize their HR approach or risk losing talent and falling behind competitors.
Despite this growing need for an updated approach to HR, many industries, especially within the tech sector, have become reliant on outsourcing their HR responsibilities—or at least some of them. HR tech platforms and services provide organizations with agile and efficient hiring processes as well as automated payroll, compliance, and more—empowering organizations to scale and improve employee relations.
Deel, a tech giant with Israeli-based leadership and founders, has become one of the world’s leading providers of workplace software and is valued at around $12 billion, making it one of Israel’s most prominent unicorns. Designed as an all-in-one payroll and HR platform for global teams, Deel offers an array of solutions for startups, mid-market, and enterprise operations.
Acquisition of Safeguard Global's payroll division
Deel made plenty of headlines in 2024 with notable acquisitions that include Global Payroll (Payspace), Deel Engage (Zavvy), Deel IT (Hofy), and Assemble. It recently acquired Safeguard Global’s payroll division in a strategic move that plans to leverage its advanced technology and robust infrastructure with Safeguard’s expertise in delivering enterprise-grade payroll systems.
The acquisition of Safeguard Global, a company specializing in corporate global payroll solutions, reinforces Deel’s position as a premier player in the global HR and payroll space.
Safeguard Global serves over 140 markets and processes more than 2.4 million payslips each year. The company, based in Austin, Texas, has achieved an outstanding 80 percent first-time approval rate for each payroll cycle, displaying its dedication to excellence in payroll management.
Safeguard’s payroll clients now have access to Deel’s extensive direct global presence, infrastructure, and native engines, providing them with greater flexibility, efficiency, and control. They will also benefit from Deel’s comprehensive suite of products, which includes immigration services, contractor management, benefits, performance, and equipment management. Clients will also gain access to Deel’s reputable customer service which boasts an industry-leading response time available 24/7 alongside a dedicated customer success department.
The entirety of Safeguard Global’s payroll department will join Deel, bringing with them a wealth of expertise and specialized tools to integrate into Deel’s in-house HR, immigration, and legal experts.
Speaking about the benefit of acquiring Safeguard’s payroll division and customers, Deel CEO and Co-Founder Alex Bouaziz said: “We’ll be able to significantly enhance our ability to execute large, complex global payroll projects.” Bouazizo adds that this is an area that Deel sees “huge growth and opportunity.”