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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

Managed Service Provider or In-House for Workforce Management?

Managed Service Provider or In-House for Workforce Management?

When it comes to comparing the pros and cons of working with a managed service provider (MSP) or relying on an in-house program, there are numerous things to consider. First, it is important to keep in mind that there is no one-size-fits-all solution. Businesses are complex organizations with different priorities. To better understand the specific needs of your business, it is important to thoroughly review your internal processes. Alternatively, you can include a neutral subject matter expert as a third party to gain additional insights. To help you compare your options, we have listed...

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The Importance of Stategic Workforce Planning in 2021

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As a result of the COVID-19 Pandemic, many businesses had to rethink their approach to workforce management in 2020. The shifting regulatory landscape, fluctuating demand, and unforeseeable market circumstances highlighted the importance of business flexibility and strategic workforce planning. Though many businesses lost revenue, some sectors, such as the staffing industry, managed to grow. Here are the top reasons implementing strategic workforce planning will be critical to success in 2021 and beyond:

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Independent Contractor vs Employee Checklist

Independent Contractor vs Employee Checklist

When hiring professionals as independent contractors, there a few things to consider before signing the dotted line. Whether you are hiring for a short-term project or looking for a freelancer to assist your organization long-term, a poorly executed engagement and cause problems down the road. We have created an independent contractor vs employee checklist below to ensure you reduce the risk of hiring an independent contractor vs a temporary employee. 

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