Business / Recruitment Process Outsourcing
Risk Mitigation
Current and future employment legislation is continuously blurring the line between contractors and employees. Many companies are unknowingly infringing on these laws putting themselves at risk for large penalties, tax audits, benefit payment assessments, and fines. By outsourcing your contractor payroll to Flextrack your company will reduce your exposure to these risks. Sometimes having less skin in the game is better than the alternative.
Take advantage of Flextrack’s MSP offering to ensure your organization enjoys:
Reduced exposure to Legislation and Co-employment risks
The risks associated with the administration and payroll of Independent Contractors are primarily driven by the need to ensure compliance with the relevant bodies of tax legislation and employment law. The criteria for assessing risk relate to how a company handles payroll deductions and remittance obligations. The misclassification of independent contractors and employees is quite common and can happen to any company including your own. FedEx and Microsoft have been amongst the two most notable companies that have found themselves in the lurch. In 2002, the IRS held FedEx Ground/Home Deliveries accountable for 319 million dollars in back taxes due to the misclassification of their fleet of employees that they had deemed independent contractors. The amount owing is expected to grow to almost 1 billion dollars once all is said and done. Flextrack currently handles over 3,500 contractors a month for some of the most successful and demanding companies in the world. Our expertise will not only lighten your administrative burden but greatly limit the legal vulnerability your organization and contingent workforce.
The Devil is in the Details, Vendor MSA’s, Air Tight Insurance and Background Checks made easy
Making sure all parties are above board and ready to work is critical. Our Managed Service Providers will ensure that all the vendors you deal with are under the proper Master Service Agreements. As a Service Provider in this industry it’s also our responsibility to offer the best insurance possible to all our clients. From general liability, workers compensation to employer liability insurance we’ve got you covered. Contractor background checks are also performed by Flextrack, once again ensuring you’re dealing with the cream of the crop every time.
Centralized documentation, improving audit compliance
No more hunting for elusive documentation. One central, online depository for all vendor and contractor information makes life much easier come audit time. Having a Managed Service Provider collect and manage the necessary paper or electronic processes is a safety blanket your organization, vendors and contractors can enjoy.
An intimate knowledge of hiring processes and best practices means significantly reduced risk
We not only follow our industry’s best practices, we shape them. You’re great at what you do and we’re great at what we do. Bad million dollar decisions happen all too often, it’s not necessary to incur risk through guess work. Whether it be the professional management of your human capital suppliers or simply having our thumb on the constant pulse of contractor rate changes and payroll legislation, our Flextrack experts will carry you over the finish line safely and securely every time.
