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As companies are hit with investigations and penalties related to misclassification, contractor compliance remains a common concern. Many companies are unsure of how to navigate ever-changing laws and how to put processes in place to ensure they are protected.

In our experience, companies often struggle with compliance because:

• They do not have centralized management of contractor hiring.
• They do not have processes in place to classify contractors properly.
• Managers do not understand or follow rules around overseeing contractors.
• The hiring process is not consistent across the organization.

Click below to access useful resources on contractor compliance and to learn how MBO helps companies stay compliant.

Resources and insights:

• Need help understanding classification tests? Read this article
• Looking for information on contractors vs employees? Read this article
• Not sure if you are at risk? Use our calculator
• Need information on how to avoid common compliance issues? Access this guide
• Need help staying up-to-date on compliance trends? Subscribe to our monthly compliance newsletter

How can MBO help? 

While every MBO solution has built-in continuous compliance, consider engaging your independent talent through our Employer of Record or Agent of Record services. Our flexible engagement options enable your talent to work with you in a way that meets their needs, leading to higher talent satisfaction. Most companies engage talent through our Business Services and Agent of Record service as they significantly reduce costs, ensure compliance, and provide flexibility to talent who want to be independent.

While contractors cost less than hiring employees and bring a significant ROI, companies are always looking for ways to reduce costs, if possible. In our experience, companies often overspend on contractors for the following reasons:

• They pay high rates to staffing firms to find talent.
• They don't retain and re-engage talent they value.
• Valued talent don't want to re-engage with them because of a poor talent experience.
• Talent are often classified incorrectly, leading to higher engagement rates.

Click below to find useful articles on reducing contractor spend and explore ways MBO can help you more efficiently source and manage independent contractors and payrolled talent.

Resources and insights:

• Learn how reducing time to hire can lower costs: Read this article
• Discover why retaining and re-engaging contractors can save time and money: Read this article
• Understand how directly sourcing talent can reduce costs by removing the middleman in hiring: Read this article
• Learn how project-based hiring reduces costs and provides flexibility: Read this article

How can MBO help? 

Several MBO solutions help you reduce spend on independent contractors.

Engagement Services: Our EOR and AOR solutions reduce overall contractor spend by properly classifying your contractors in one of our three flexible engagement offerings. Many contractors qualify to work in our Business Services and Vendor Services options that most companies would put in an EOR service to charge you more. These services are designed to help independents build their business, and properly classifying your contractors can lead to 15-50% savings in contractor spend over staffing firms.

Talent Pools: By building talent pools of independent talent you know you will need in the short and long term, you'll save money by boosting hiring efficiency and productivity.

Virtual Bench: By proactively building a virtual bench of vetted, pre-onboarded talent who are ready to work when you need them, you'll save time and money on searching for talent and reduce onboarding time.

Recruiters are in a consistent cycle of having to find the right talent for projects that the business needs to keep moving forward. With limited time and resources, they may not make the most cost-effective decisions to reduce spend. In our experience, here are ways that companies overspend on finding top talent:

• • They use third-party staffing firms and pay a higher rate to find talent.

• • Even if they are direct sourcing, hiring managers often do not have the tools they need to find the right talent quickly.

• • Hiring managers do not understand how to write effective job descriptions for independent contractors.

• • Hiring managers do not have efficient screening processes or the knowledge to classify contractors properly.

Click below to access articles that can guide you on reducing recruiting spend and to learn how MBO can help you source talent faster and for less.

Resources and insights:

• • Review these 5 tips for hiring contractors: Read this article

• • Understand the right steps to follow when hiring contractors: Read this article

• • Learn how retaining and re-engaging contractors can save time and money: Read this article

• • Explore how directly sourcing talent can reduce costs by removing the middleman in hiring: Read this article

How can MBO help? 

MBO not only offers solutions to help you manage your independent workers but also provides access to a marketplace of top independent talent you can use to source experienced independent professionals for projects.

MBO marketplace: Our marketplace technology enables you to create a branded marketplace so you can build a network of talent you can tap for your project needs.

Independent Talent Netework: Through this white-glove service to our clients, MBO experts will work with you to find top talent for your projects. For most projects, we have known, vetted talent in your network or our broader marketplace that can meet your needs. If not, we will find the talent you need so you can keep business moving forward.

Direct Sourcing: When using our direct sourcing solution, your hiring managers will have direct access to our talent marketplace of 125k+ high-value talent for your projects. Recruiting costs are reduced by finding the talent you need quickly and directly through our marketplace.

Hiring managers struggle with finding high quality talent quickly and easily. In our experience, companies have difficulties finding top talent because:

• • They don't have one place to look for talent that are skilled and experienced and instead are looking in multiple platforms or using third parties.

• • It takes too much time to find the right talent so they settle for anyone they can find.

• • When they do find a good option, the talent is often unavailable.

• • The company is not taking steps to attract the best talent.

Click below to access articles that may help you find higher quality talent and to learn how MBO can help you source skilled, independent professionals in 112 specialties.

Resources and insights:

• • Review these 5 tips for hiring contractors: Read this article

• • Learn how to hire the right contractors: Read this article

• • Discover ways to boost retention and attract the best contractors to your organization: Read this article

• • Learn how to build strong relationships with top talent: Read this article

How can MBO help?

This is a common problem in today's competitive market and with labor shortages. MBO makes it easier for you to find the skilled and experienced talent you need.

MBO marketplace: Our marketplace has 130k+ high value independent talent across 112 specialties. Several MBO solutions provide access to our network of talent so you can find the right talent quickly. Our marketplace also enables you to create a branded marketplace of your own so you can build a network of talent you can tap for your project needs.

Independent Talent Network: MBO's team of experts will work with you to fill your roles quickly, either through your talent network or our broader marketplace.

Talent Pools: By proactively identifying the talent you need in the short and long term, MBO will help you build talent pools of skilled independents who are ready to work when you need them.

Large and even small companies can quickly lose sight of who their contractors are and how much they are spending. This puts them at risk for misclassification and overspending. In our experience, companies lack oversight because:

• They do not have a centralized program in place.
• They do not have consistent hiring processes and practices.
• They have not made an effort to enhance program adoption.
• They do not have centralized reporting mechanisms in place.

Click below to access useful articles on contingent workforce program management and to learn how MBO can help you create a program that creates efficiency and ensures compliance.

Resources and insights:

• Discover best practices for managing your contingent workforce: Read this article
• Learn how to get buy-in for creating a centralized program: Read this article
• Access this guide on how to manage independent workers: Access this guide
• Learn how to kick-start a contingent workforce program: Read this article

How can MBO help?

It's not uncommon for a company using many contractors in different departments to suddenly lose full oversight of their program. MBO developed its PMO solution to work alongside our clients in centralizing and managing their workforce. We help create company-wide processes, training, methodologies and reporting methods that are centrally adopted so that you have full view of your contractor usage and program spend.

To keep business moving forward and stay competitive, companies need talent to get to work quickly. Red tape, delays, and slow onboarding processes can hinder productivity and efficiency. In our experience, companies can't get talent to work quickly because:

• Their onboarding process takes too long.
• It takes too long to set them up in their payment system.
• Classification requires too much oversight and red tape.
• Meeting client requirements requires time and resources.

Click below to read articles that can help you learn how to get talent to work quickly and to learn how MBO can reduce onboarding time so your talent get to work fast.

Resources and insights:

• Learn 7 ways to onboard contractors faster and easier: Read this article
• Read about these strategies for reducing time to hire: Read this article
• Understand how re-engaging top talent can keep your business moving forward: Read this article
• Discover ways to boost talent retention: Read this article

How can MBO help?

When engaging independent talent, we understand that it's important to get your talent to work quickly. Here are some ways we make onboarding and engagement quick and easy.

EOR/AOR Services: Whether you are onboarding payrolled workers through our Employer of Record service or independent contractors through our Business Services option or Agent of Record service, our process is efficient. Enabled through technology and supported by our expert staff, we ensure your talent are properly classified and meet federal, state and client requirements through a seamless, efficient process.

Talent Pools: By proactively identifying and sourcing talent you need, you can build a network of independents with the skills you require for your projects whether you need them in one month, six months or more. Having a talent pool of ready-to-work talent means they will get to work fast when you need them.

Companies know that they need talent but often don't have the resources available to find talent. In our experience, companies don't have time to search for talent because:

• • They don't have efficient processes to source talent.

• • Hiring managers don't know how to find independent talent.

• • Hiring managers don't have time to interview, review contracts, and finalize hiring.

• • Companies often don't have experienced recruiters who can do the heavy lifting.

Click below to read articles on how to more efficiently search for talent to learn how MBO can help you find top talent with the skills and experience you need.

Resources and insights:

• • Learn 5 ways to find top talent: Read this article

• • Understand how to boost retention so you're not always looking for new talent: Read this article

• • Use these tips to write a job posting for contractors: Read this article

• • Learn how to build and manage a talent network of ready-to-work independents: Read this article

How can MBO help?

We get it. Your time is valuable. Many hiring managers often use staffing firms to find talent because they just don't have the time to sift through resumes, interview candidates, and review contracts. That's where our Independent Talent Network solution comes in. Our experts will work with you to fill roles you need. They will undertake recruiting tasks, find the talent that's the right fit, and get them onboarded and to work quickly at a much lower cost.