My Account
Archive for January 2024
Biden’s New Department Of Labor Regulation Wages War On Freelancers And Destroys Flexibility
According to MBO Partners’ most recent report, a record 72 million Americans engage in some form of independent contracting—full-time, part-time, or occasionally.
Read MoreHow to Ensure Compliance for Non-Traditional Independent Workers
As the way work gets done changes and companies continue to seek high-demand and often specialized skills, hiring managers are tapping workers from non-traditional talent pools. The most notable of these are digital nomads and members of the creator economy. Engaging Digital Nomads Requires Extra Attention While independent professionals pursuing a digital nomad work style…
Read MoreCompliance Risk Assessment Tool for Independent Workforce Engagement
Because there is risk associated with hiring independent contractors, preparation is key. Often, misclassification can be unintentional because businesses simply do not have a full understanding of the laws regarding how to classify their workers. However, it can also be done intentionally to reduce labor costs or avoid payroll taxes. Regardless of why misclassification occurs, it…
Read MoreNew DOL Rule Changes Definition Of IC Status: What Matters for Your Enterprise
On January 9, 2024, the United States Department of Labor (DOL) announced its final rule on determining whether a worker is an employee or independent contractor under the Fair Labor Standards Act (FLSA) purposes. The rule is effective on March 11, 2024, and rescinds the existing rule developed by the previous administration that has been…
Read MoreLet’s Think Bigger About The Future Of Freelancing
The MBO Partners 2023 State of Independence research study found that 17.3 million American workers described themselves as digital nomads this year, up by 2% year on year after a 131% jump from 2019 to 2022. The number of digital nomads who are independent workers — freelancers, self-employed, or independent contractors — increased 14% from 2022.
Read More9 Ways to Include AI in Your Workforce
Workforce optimization—establishing a strategic mix of employees and contractors—will likely be redefined in the next few years. With AI coming on the scene in a big way, speculations swirl in the business community about how it will change the way work is done. Will it cause jobs to be lost as it takes on roles…
Read MoreGross vs Net Income: Differences and How to Calculate
The terms gross income and net income can be easily confused. Per definition, gross income is the total amount you earn, and net income is actual business profit after expenses and allowable deductions are taken out. However, because gross income is used to calculate net income, it’s important to understand how each is calculated. When…
Read MoreHow to Integrate Independent Contractors into Your Business in 2024
Independent contractors are the solution for many organizations when faced with disruption, competition, and labor and skill shortages. The average company reports that contingent labor makes up 28% of their workforce, and this proportion is expected to grow to 38% by the end of 2027. As this sector of the workforce increases, it is worth…
Read MoreSouth Korea Launches Digital Nomad Visa to Attract International Talent
According to a 2023 report from MBO partners, there has been a 113% increase in the number of people identifying themselves as digital nomads since the pandemic.
Read MoreTexas is popular on this rental platform for digital nomads
In a report by independent talent provider MBO Partners, the percentage of Americans who described themselves as digital nomads increased to 131 percent between 2019 and 2022.
Read More