Today’s younger generation of highly skilled and high-performing workers are trading job security for more freedom, fast-track growth and substantial tax savings by joining the flexible workforce. Organizations who wish to tap the best and brightest must increasingly turn to independent contractors to fulfill their talent requirements.
However, retaining independent contractors comes with the growing risk of misclassification: classifying individuals as 1099 / IC workers when they are in fact employees.
Independent Contractor (IC / 1099) Payment Solutions enable organizations to avoid misclassification challenges by the IRS, Revenue Canada, DOL and other state / provincial, and federal agencies, as well as streamline their procurement and payment process.
HCMWorks will retain your 1099 / IC workers on your behalf, screen and vet them, ensure that they are actually qualified to be classified as an independent contractor, and manage the full contract lifecycle.
An IC Payment Solution provides your organization with significant benefits and peace of mind including:
A good contract is not enough – no matter how good your lawyers are. There’s more to retaining independent contractors than meets the eye. Our IC / 1099 Payment Solution is your best insurance policy against misclassification risks. All retained contractors will have successfully passed the 20-factor test and their eligibility is fully documented and confirmed.
You’ll rest easy knowing that you are protected, and fully indemnified against any local, state / provincial, or federal legal action.
Key benefits that set us apart!
Learn more about why HCMWorks could be the right choice for your Independent Contractor Payment Solution.
Contingent labor is increasingly attractive to organizations looking for ways to reduce costs, increase flexibility, and extend capabilities through better access to talent. But your contingent workforce also poses several significant challenges that need to be addressed.
In this guide, we examine: