It is important for a workforce solutions firm to specialize in Independent Contractor management. When working with such firms, you want to be able to incorporate IC management into your Human Resources, or Procurement Strategy if interested, which you definitely should be.
Companies are always looking for ways to be more efficient when managing their workforce, while trying to be compliant with regulations. For this reason, partnering with a workforce solutions firm is an ideal resolution. Many companies are making this change and outsourcing management for their independent contractors. Here are some commonly asked questions companies may think about before making this decision to outsource:
- Do I want to outsource my independent contractor payables? This service eliminates the time it takes to open new supplier files, service contractors by answering their multiple questions that come with invoicing, tax filing etc...
- Do I want to have a better control of the number of independent contractors (1099) I have? Are they properly classified? Are we compliant with the law?
- Do I want to have a better idea of my average pay rate to better manage my costs and the duration of contracts? A thorough understanding of these metrics significantly reduces or eliminates co-employment risks and the associated issues;
- Do I want to reduce the overall administrative workload associated with a short term non-permanent workforce? The outsourcing of this work means that a company can focus on the retention and efficiency of their permanent workforce;
- Do I want to invest time and money to purchase a centralized management system to manage my temporary workforce? While this may be a solution for some companies, for many others it means the addition or expansion of their HR department.
At HCMWorks, we know that these kinds of questions have been asked during a Human Resources Management or Procurement planning session, or if not they should be as part of a prudent planning process. We will work with your HR, Legal and Procurement departments to establish a customized service solution depending on your needs so your focus can remain on your core employees and business objectives.
We are a contingent workforce service provider helping organizations gain better access to talent through the use of independent contractors, consultants, temporary workers, freelancers and other non-payrolled employees. We provide the expertise, the technology, and processes to help you reduce your workforce costs, mitigate against misclassification and co-employment risks, and increase the efficiency and timeliness of your contingent recruitment process. Read more about what our clients say about us here.