1099 Risk Blog

Budget 2011: the DOL Rises, and What's This $8 Billion For?

Monday's release of Obama's 2011 Budget has generated a flurry of excitement regarding an increase of $25 million for the Department of Labor (DOL) to go after worker misclassification in a joint effort with the Treasury. The efforts are expected to increase Treasury receipts by more than $7 billion over a ten year span. But the $25 million line item in the budget doesn't tell the whole story of what's intended for the future of worker classification enforcement in Obama's 2011 budget. Hey . . . what's this $8 billion for the IRS to target critical areas of non-compliance? And why isn't anyone excited about that?? Read on . . .

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The Best Talent Isn't For Hire

Most days I get bombarded with email invitations to talent management webcasts, promising to teach attendees, presumably HR talent managers, recruiters, and workforce planners, how to source and hire the world’s top talent. I just got another one that reads, “. . . a joint session to discuss what it takes to find and hire the best talent on the planet.” Ok, so we we’ll learn how to hire the best talent on the globe. Really? Beyond the obvious issues of hyperbole, my big objection is this: The best talent on the planet is not for hire. . .

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Aberdeen Study Proves ICES Compliance Results

Contingent labor is a reliable strategy to overcome tough economic times. However, enterprises must ensure they are mitigating the risks of using contract talent, in particular with independent contractors, according to a new contingent labor report by Aberdeen Group. The contract workforce report found organizations using an Independent Contractor Engagement Specialist (ICES) are capturing 55% more independent contractor spend through their contingent workforce management program, and driving an independent contractor compliance rate 40% higher than average. By using an ICES vendor . . .

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CWM: There's a Blog for That

Contingent Workforce Management (CWM) might be among the smallest and most obscure fields of corporate expertise relative to its strategic importance to major organizations. On top of that, contract talent is done in starkly different ways. In some companies, the Human Resources department takes the lead, since this is ultimately about talent. In others, Procurement and/or Legal hold the reins because the risk management of independent contractors is key . . .

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ROI in Enterprise Contract Talent Management

The contingent and contract workforce is both large and important. Yet, in most organizations, it is loosely managed and all but ignored by HR. Are you able to track SOW consultant spend? Is co-employment risk managed? How much does centralized Contingent Workforce Management cost, and is there a return on investment for organizations doing it? If you’re curious to know the costs and benefits of a centrally managed contract talent program, or learn how organizations are saving millions of dollars on their contract and contingent workforce, download this report on the ROI in Enterprise Contract Talent Management.

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The Forgotten Third

Today’s employment marketplace consists of a diverse composition of labor and talent from a wide variety of sources. Among them is a group that is collectively known as contracted talent or the contingent workforce. This group includes contractors, consultants, freelancers, temporary help, interim executives and others who are not part of an organization’s full-time or part-time workforce.

Contingent work has continually evolved since its inception. The 1950s temp who filled in for emergencies and maternity leave has given way to today’s skilled professional who may lead projects, serve in a critical technical capacity on a team, or even act as an interim CEO. Indeed . . .

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Research: Contract Talent and the Role of HR

New research published jointly by HCI and MBO Partners, The State of Contract Talent and the Role of HR, points out that contract talent, including independent contractors, is the fastest growing segment of the workforce, and a major strategic component of enterprise talent management. Despite this, however, HR is often not involved in the sourcing and engagement of contract talent, which is generally handled by procurement. The research report concludes that human resources and procurement are going to need to find new ways of collaborating in order to better handle the strategic management of the contract workforce, including consultants, freelancers, retirees, small services vendors, and independent contractors.

Check out this executive briefing slideshow that summarizes the research:

http://thetalenteconomy.com/ebriefings/stateofcontractmbo012109/

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New Poll on Size of Contract Workforce

How big is your contract workforce? What proportion of your organization's workforce could be considered contingent or is contract-based? Please take a moment to visit our poll on LinkedIn: http://polls.linkedin.com/p/18415/hzyaj

In your answer, please include temps, independent contractors, seasonal hires, independent consultants, and single-person vendors. Essentially, consider anyone who is performing work in your organization that is not a "traditional" employee. Thanks for your help!

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