Risk Mitigation
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Reducing misclassification risk is an important consideration as more enterprises today incorporate independent talent into their overall workforce strategy. Independents have a lot to offer, and with the right engagement program, they can help an organization thrive. Here are four important strategies to keep in mind if you are considering making independent talent part of…
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Independent contractor misclassification can be an expensive mistake—here’s what you need to know to avoid it.
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Independent Contractor Risk Assessment is Important Independent contractor misclassification is an important concept to grasp when engaging contingent workers. While most businesses understand that the threat of reclassification is real and growing, quantifying such risk is still difficult for many enterprises. This isn’t surprising. IC reclassification penalties are highly variable and may rise and fall…
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By engaging independent contractors, organizations can realize many benefits—from significant financial savings and staffing flexibility, to access to specialized skills and expertise. Independent talent can be a great way to test out new services, lay the foundation for a new business unit, or implement a new technology system. But in order to avoid risk, ensure…
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Worker misclassification is a serious issue. While misclassification is not always intentional, it can be challenging to correctly abide by the many tests, laws, and guidelines that govern how workers are classified. Many enterprises are focused on maintaining current policies and practices to ensure compliance when engaging independent professionals. Why is Worker Misclassification a Big…
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Improve independent contractor program adoption, increase talent retention rates, and mitigate misclassification risk with these three best practices for independent contractor engagement.
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Any business that engages independent talent will take precautions to minimize the risk of worker misclassification, but if you do find yourself with an IRS audit letter what do you do? Because audits can result in large fines, negative press, back-tax payments, and even class-action lawsuits, the prospect of going through one can be scary….
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Minimize the risk of worker misclassification by understanding these three important components of independent contractor compliance.
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Hiring independent contractors can be risky if you don’t have a plan in place to properly manage compliance and business requirements. More companies are looking to hire independent contractors because they are a valuable source of talent for businesses. The growth of the independent workforce has also made it easier for businesses to compliantly engage…
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Most firms working with consultants, contractors, freelancers and other 1099s will use an RFP (Request for Proposal) to set the tone and guidelines for what is expected to complete an assignment. Clients are more comfortable with engaging a contractor when they outline and understand what needs to be delivered by the consultant. Moreover, consultants will…
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