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Cost Management
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Engaging an independent contractor to contribute specific skills to a project, help develop a new line of business, or assist in building out a new market is often much more cost-effective than spending the time and resources to recruit a full-time employee for the same need. Cost Differences Between Independent Contractors and Employees There are…
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Figuring out your billing rate can greatly impact the ability to build your business. Ideally, you will arrive at an amount at the intersection of the income you need, the market value of your services, and the value you provide a client. Once you calculate your billing rate, you need to decide how to bill—that…
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Best practices and industry standards for engaging and paying independent contractors.
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As the 64.4 million-strong independent workforce continues to grow, so does the issue of employee misclassification. The IRS estimates that millions of workers have been misclassified, and according to state-level studies, 10-30% of employers misclassify their employees as independent contractors. While some misclassification is unintentional due to lack of understanding about laws regarding worker classification, sometimes it is done deliberately…
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There are direct and indirect costs that must be considered when engaging and hiring independent workers. Independent professionals help organizations realize a competitive advantage among their peers by providing access to specialized, in-demand talent, staffing flexibility, and better control over employment costs. However, in order to make the best use of this valuable talent pool…
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Outsourcing engagement and management tasks for your independent workforce can help your company stay compliant, save costs, and be more efficient.
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As a self-employed professional, a big part of your job is selling your consulting services. If that sounds like something that doesn’t come naturally to you, don’t worry. Finding work often comes down to the planning and effort you put into it. If you’ve already committed to building your own business, you have what it…
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Cyber insurance helps protect your company from costly data breaches not covered by general or professional liability insurance. Learn the benefits of cyber insurance, what it protects, and why you should consider it if your company engages independent contractors.
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