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IC Payment & Compliance

Independent Contractor Solutions with HCMWorks

We can engage your IC workers directly, on your behalf, and manage the contract lifecycle

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.

> How Are You Managing Your Contingent Workforce?

Why choose a vendor neutral contingent workforce advisor to manage your IC payments and compliance needs?

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:

  • Job request management
  • On-boarding
  • Training
  • Contract management
  • Compliance management
  • Client management
  • Payment
  • Off-boarding

Manage Your ICP

“The HCMWorks team was the foundation in the implementation of a contingent workforce managed solution which extends from the hiring process to the payment of consultants.  For more than 5 years, our partnership with HCMWorks enables us to effectively meet our objectives in accessing a large talent pool, all while controlling our costs.” 

Vendor Management Client

"Having had HCMWorks and their team of professionals supporting our contract resources over the past four years has been a pleasure. HCM experts continue to provide solid and consistent resource management, procurement and administration and we appreciate the efforts that they successfully offer. Having them on our team is a huge asset!" 

Senior Manager, Data Centres

"I've been working for almost 10 years with the HCMWorks' team and I hope to continue for another 10 years.  Professional and passionate are few words that best describe this team. They offer excellent overall service and are always available for any inquiries. Their knowledge of the market makes them an asset for the business. I would not hesitate to recommend them." 

National Senior Manager Staffing Office
The benefits of an IC Payement Solution

THE KEY BENEFITS OF AN IC PAYMENT SOLUTION

A Contractor Payment Solution provides your organization with significant benefits and peace of mind including:

Access to a vast pool of quality talent
The best and brightest consultants, freelancers and contractors, without misclassification risks.
On going compliance with all local and federal legislation
We stay current with the changing regulatory landscape and continuously update your independent contractor program.
In-depth background checks
We screen all 1099 / IC workers according to your requirements, from drug testing to security clearance and everything in between.
Extensive eligibility validation - our rigorous 6-step process
More than just a cursory overview. We dig deep to ensure that each resource is actually qualified to be classified as an Independent Contractor.
Risk mitigation
HCMWorks will ensure that you fully optimize your risk mitigation by eliminating any unnecessary risk exposure, through our thorough analysis of your current processes and contractor management and engagement practices.
Consistent contract lifecycle management

We manage the full contract lifecycle from start to finish and provide the added advantage of a single consolidated invoice for all IC / 1099s retained by your organization.

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 our 20-point test and their eligibility is fully documented and confirmed.

You can rest easy knowing that you are protected, and fully indemnified against any local, state / provincial or federal legal action.

The HCMWorks Blog

Contingent Workforce Management: Pros and Cons of the 3 Main Outsourced MSP Program Models

Contingent Workforce Management: Pros and Cons of the 3 Main Outsourced MSP Program Models

The contingent workforce has grown significantly over the past decade, and, according to research from Ardent Partners, currently sits at around 41.5 per cent of the average company’s overall talent pool.

In fact, the contingent workforce has grown by roughly 2.5 times over the past decade due to several important factors, according to the same body of research, including:

> Read More

What are the Benefits of an Agile Workforce?

What are the Benefits of an Agile Workforce?

The way organizations operate has changed significantly in the past few years. The biggest change for the majority of businesses is a transition to project-based roles over full-time positions, which has sparked a seismic shift in the workforce.

When it comes to acquiring top talent in today's market, organizations are now required to be innovative if they are to stay competitive. This goes beyond simply filling full-time positions or accessing the contingent workforce to augment, or even replace, parts of your company’s permanent workforce.

> Read More

What is a Vendor Management System (VMS) and What is its Role in Contingent Workforce Management?

What is a Vendor Management System (VMS) and What is its Role in Contingent Workforce Management?

Three in four companies (75 per cent) believe that using workforce analytics is “important”, but, according to a study from Deloitte, just 8 per cent believe that their organization is “strong” in this area.

Talent analytics is particularly hard when it comes to contingent workforce management, where gig workers, staffing suppliers, managed service providers (MSP) and managers all create millions of data points for your organization.

> Read More