Cost Management

Why Misclassification Risk Can’t Be Ignored

By MBO Partners

As the 38-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 to…

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How to Determine the Cost of Hiring Independent Workers

By MBO Partners

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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5 Benefits of Outsourcing Contractor Management

By MBO Partners

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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How to Build a Budget for Independent Workforce Management

By MBO Partners

Best practices and industry standards for engaging and paying independent contractors.

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The Costs of Independent Contractor Engagement

By MBO Partners

Learn about the costs associated with different independent contractor engagement methods and review a case study to see cost savings in action.

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Consulting Fees: Hourly vs Fixed Price Billing

By MBO Partners

Deciding what to charge for your services can have a big impact on how you structure and build your business. You don’t want to charge too much, in order to remain competitive. But you don’t want to charge too little either and risk missing out on revenue or not being able to cover your operating…

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How to Sell Your Consulting Services

By MBO Partners

Selling your consulting services is a big part of your job as an independent professional. 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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3 Reasons Independent Contractors Are Cost-Effective

By MBO Partners

There are many benefits to incorporating independent professionals into your workforce strategy—many of which center around cost savings. Independent talent, for example, can offer staffing flexibility and access to skills that might be hard to find among your existing employee base. These financial factors are motivation for many businesses today to engage independent workers. It’s…

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Should Your Independent Contractors Have Cyber Insurance?

By Bunker

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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