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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 into the best and brightest talent must increasingly turn to independent contractors (IC) also known as freelancers, to fulfill their talent requirements.
However, across many jurisdictions, retaining independent contractors comes with the growing risk of misclassification: classifying individuals as IC / 1099 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.
By working with HCMWorks, you can be confident that your valuable contractors stay with you until the work is completed. HCMWorks has no revenues associated with staffing. Therefore we have no incentives to ‘poach’ your contractors for placement with other clients at far higher mark-ups mid-way into their mandates. In addition, being ‘pure play’ contingent workforce experts and advisors means that HCMWorks is a leading authority on the complexities and risks surrounding the non-employee workforce. These are two decisive competitive advantages that our clients greatly value when selecting us as their partner.
HCMWorks will engage your 1099 / IC workers directly, 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.
As your Contractor Payment Solutions provider, HCMWorks administers, automates, and manages every aspect related to the contract lifecycle ensuring timely and accurate payment processing and overseeing the ongoing management of these resources:
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Next-Generation Managed Service Providers (MSPs) go beyond traditional first-generation solutions, offering comprehensive management of contingent labour, Statement of Work (SOW) engagements, and tail spend, all while leveraging cutting-edge technologies and strategic expertise. By utilizing advanced MSP service models, businesses can achieve:
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