In today’s competitive business climate, organizations need an agile workforce that can execute strategies and achieve corporate goals quickly and efficiently. Yet, employers must also be responsible for managing their workers’ wages, bonuses, and deductions as well as provide support during the length of a worker’s assignment(s).
It’s a complex, time consuming process, and staying on top of the frequent changes to legislation can be problematic. Any oversights will result in non-compliance, which could lead to serious fines and negative employer branding.
To stay compliant and competitive, growing organizations will typically shift from a ‘direct contractor payrolling model’ to a third-party payrolling model, either built around the selection of a dedicated supplier or through informal referrals to a variety of vendors.
But which model is the best option for bringing qualified talent quickly and cost effectively into your contingent workforce? Depending on your organization’s acquisition needs, below is a list of payrolling models to consider:
Leveraging a contingent workforce in today’s business landscape is a risky but rewarding strategy. With the velocity of emerging technologies, skills gaps in the workforce, shifts in employment attitudes and increasing customer expectations, employers need to be able to engage talent quickly and flexibly to remain competitive.