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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

New HCMWorks Video Explains the Importance of a Contingent Workforce Management Strategy

New HCMWorks Video Explains the Importance of a Contingent Workforce Management Strategy

Today’s on-demand economy means companies are increasingly relying on contingent workers to support their workforce requirements. These non-permanent workers give businesses access to top talent, help boost growth, and encourage the creation of an agile and flexible workplace.

However, the management of contingent workers is complex and has created extra workload for both HR and procurement professionals, who need to source and vet contract workers for a variety of positions and departments across their organization. 

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How Changing Workforce Behaviours Have Created Access to a New World of Talent

How Changing Workforce Behaviours Have Created Access to a New World of Talent

The world of work has evolved significantly over the past decade, and the contingent workforce has boomed in recent years. This has translated into ample opportunity for today’s large businesses to tap into a new network of world-class, on-demand talent.

As we covered in a recent blog, titled “How Technology and Communication Tools Have Fueled the Gig Economy”, technology and communications tools have been a huge factor in the changing workforce behaviours. 

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What is a SOW and how can SOW Management Benefit my Contingent Workforce Program?

What is a SOW and how can SOW Management Benefit my Contingent Workforce Program?

When it comes to an organization’s contingent workforce program procurement and human resource (HR) professionals must strive for a transparent and company-wide strategy.

Whether your business is looking to create or improve your contingent workforce program, it can be a time-consuming and frustrating process. However, with contingent workers making up a large part of many companies’ workforce, updating the program you use to manage them is essential for acquiring the best talent and reducing costs. 

> Read More