The holidays are right around the corner. In the spirit of giving for which the season is known, we here at the nextSource blog have made a list (and checked it twice) of some of the important gifts contingent workforce management professionals can give to their employers this year. Here are five great gifts you, as a workforce management pro, can bestow on your company and help ensure not only a Happy Holiday, but also a prosperous New Year too!
1. Peace of mind through stronger worker classification practices
Without the processes and practices in place to ensure proper vetting and collection of specific tax/regulatory documents, a company may be at higher risk for misclassification lawsuits and the costly penalties that often accompany them. Engaging ICs as a workforce strategy must only be done with a keen eye toward compliance risk mitigation. Get help from a trusted provider like nextSource to put the proper IC compliance practices in place and give the gift of peace of mind to your workforce managers.
2. A lower administrative burden through the use of an EOR
If your organization intends to ramp up usage of contract workers in 2017, but doesn’t have the bandwidth to adequately manage the following HR-related tasks for the influx of new contractors, the use of an EOR can help ensure compliance with all required regulatory, tax and business-rules-based concerns. These things are critically important to a successful contract worker program. Your HR workers will thank you most kindly!
3. More satisfied employees through the implementation of a forward-thinking flexible hours program
The financial impact of employers providing flex work situations are beneficial if the process is managed proactively. Some of the benefits of allowing flex hours among appropriate elements of the workforce include increased morale and engagement, reduction in employee turnover, increased loyalty (which supports continuity of critical business information among retained workforce) and reduced absenteeism/PTO.
4. Happier more productive suppliers through supplier network maximization practices
Supplier partners are a valuable source of measuring the performance of your MSP. Take every opportunity to listen to their input. Whether it be through regularly administered surveys or during quarterly business reviews. Like any good, lasting relationship, communication is essential. Take these steps now and reap the benefits of positive supplier relationships for the duration.
5. Freedom from risks associated with ACA compliance
Ensure contracts with staffing partners require at a minimum, compliance to all laws. As a best practice, the contracts should detail the requirements for healthcare coverage. On an ongoing basis, prepare to audit suppliers and require them to report monthly on such things as benefits verification and waivers. Partner with an MSP provider who can advise on changes and updates as they become necessary. Implement a VMS software solution to help automate and codify reporting needs. This way, the next big regulatory brouhaha won’t leave your program scrambling to achieve compliance.
Remember, the joy of the Holiday Season lies in the giving. So give these gifts to your workforce management program and ensure a Happy New Year!