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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: How to Integrate Your VMS Into Your IT Ecosystem (Part 1)

Contingent Workforce: How to Integrate Your VMS Into Your IT Ecosystem (Part 1)

A vendor management system (VMS) is an essential element of any successful contingent workforce management program, helping with every aspect of your company’s “non-permanent” workforce - from candidate selection, requisition distribution, onboarding, vendor management, vendor performance analysis, compliance, time management, payments and much more.

The implementation of a VMS will bring your company a wide range of benefits, such as total workforce visibility, improved efficiencies, the ability to gain control of contingent spending, a significant reduction in costs and the automation of...

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What Technologies are Needed to Better Manage the Contingent Workforce?

What Technologies are Needed to Better Manage the Contingent Workforce?

Contingent workforce management programs are complex. With around 41.5 percent of the average enterprise’s workforce being made up of “non-employee” workers (Ardent Partners), large organizations need to implement strategic plans that make the management of this workforce more efficient and cost-effective.

Many companies, however, are failing to get this right. Contingent workforce management programs are highly strategic, time-consuming and require highly skilled professionals that have expertise in contingent workers and how to manage them.

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How to Implement a Supplier Performance Management (SPM) Strategy

How to Implement a Supplier Performance Management (SPM) Strategy

Supplier performance management (SPM) is a business practice that is used to measure, analyze, and manage the performance of a supplier. Done successfully, this can help your company cut costs, alleviate compliance risks and drive efficiencies in your workforce management.

This important business function is associated with third-party management, and is often used in conjunction with an outsourced partner such as a managed services provider (MSP).

It can cover a wide range of areas in which your business uses suppliers, such as paper, IT or your phone provider. In this blog, however, we...

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