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:
“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.”
"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!"
"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."
A Contractor Payment Solution provides your organization with significant benefits and peace of mind including:
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.
Independent contractors, freelancers, and contract workers are a valuable source of high-quality talent but managing dozens, if not hundreds of IC contracts, invoices and more, is a full-time job for several of your people.
Learn how to simplify, streamline and reduce the complexity of managing your freelancers, consultants and contract workers.
Managed service providers (MSPs) can manage a wide range of aspects within your business, from IT to payroll. Within the last few years, however, their importance to contingent workforce management has been undeniable.
Organizations that partner with an MSP that has experience in contingent workforce management will realize significant benefits. By leveraging years of experience alongside personnel with specialized skill in contingent workforce management, an MSP can help your business to quickly establish a fully functional and effective contingent workforce management program.> Read More
Today’s businesses must face more competition from competing firms and impress a consumer that is more knowledgeable than it has ever been before. This means that employing the right staff, as well as being agile enough to adapt to change, is essential for any business looking to thrive in the 21st Century.> Read More
An article from Forbes last year predicted that the workforce of the future will no longer be made up of full-time employees, but rather an increasing number of companies would look to build a “blended workforce”.
With recent statistics showing that around 30 per cent of the US workforce currently works on a contingent basis, a number that could reach as much as 40 per cent by 2020, it’s easy to see why building a blended workforce is becoming increasingly popular for many businesses.> Read More