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Risk Mitigation

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Mitigate Risk, Reduce Costs And Manage Your Contingent Workforce

Today’s on-demand, gig economy has made it more advantageous than ever before to engage workers on a temporary basis, be it through staffing agencies, service providers or directly as freelancers or independent contractors. This shift from a largely 9-to-5 permanent workforce to a flexible contingent workforce, is convenient for both sides, but is not without risk.

Overall, a mismanaged contingent worker program can carry hidden costs, and expose you to significant risks: billing and timesheet fraud, third party risk, co-employment risks, and long-tenure entitlements to name a few.

How is your organization impacted by the rapidly changing local, state and federal legislations across multiple jurisdictions?

HCMWorks will help you assess your risk profile from multiple points of entry to recommend and design a workforce management solution that is layered to provide you end-to-end compliance, effectively mitigating your total risk.

Below are the core areas in which we help organizations reduce their risk:

  • Employee Classification Management
  • Co-Employment Risk Management
  • Tenure Management
  • Liability and Insurance Management
  • Program Administration & Compliance
  • Consistent Onboarding & Offboarding
  • Supplier Validation and Risk Assessment
  • Contract Management
  • Directly Self Sourced Contractors (Independent Contractors/Temporary Workers)

A properly managed contingent workforce program can protect your organization against many risk vectors, across all categories of non-permanent workers, be it through staffing vendors, directly sourced candidates, independent contractors and SOW resources. HCMWorks will ensure your can confidently draw from the benefits of this increasingly important pool of human capital without exposing yourself to undue risk.

Mitigate Your Risks

HCMWorks will help you assess your risk profile from multiple points of entry to recommend and design a workforce management solution that is layered to provide you end-to-end compliance, effectively mitigating your total risk.
Reduce the Strain - Invest in Contingent Workforce Consultation Services

Reduce risk by outsourcing your contingent workforce payroll

Most business owners do not have the knowledge nor experience needed to properly determine whether a worker is in fact an independent contractor. If the thought of facing a potential misclassification lawsuits worries you, don’t chance it. You need professional advice, and we can help.

Outsource your continent workforce payroll to professionals who have the expertise needed to get it done right.

Invest in Contingent Workforce Consultation Services

To avoid class-action lawsuits, your company should consider investing in contingent workforce consultation services.

Worker misclassification is no joke. Are you 100% certain that your contractors are properly classified? How are you making sure that you are following all federal, provincial and state policies to avoid misclassification and potential lawsuits?

HCMWorks will help you properly classify all of your current and future workers.

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:

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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