What is contractor payroll?
Contractor Payroll refers to the tasks a company must execute to ensure temporary W2 Workers and 1099 Independent Contractors (ICs) are paid correctly and on time in accordance with their contract or Statement of Work (SOW). Contractor payroll is a complex business responsibility that can often appear confusing to employers unfamiliar with the different set of obligations that must be met when paying contractors vs. traditional employees.
Before your organization decides on a payroll model that’s the best option for bringing qualified talent quickly and cost effectively into your contingent workforce, below is a list of critical considerations that will help you on your journey to making an insightful decision:
Contingent Workforce