Concerned about your Management Control? Or your Vendor Management Methodology? Excessive Costs? Personnel inventory? Project portfolio? Infrastructure? Data security? IRS and DOL Compliance? That you have unapproved non-employees engaged in your organization?
You can only manage what you can identify.
Even with a vendor management system, many organizations have discovered that they do not have a good grasp of their total spend on contract labor (consultants, staffing personnel, independent consultants, temporaries, contingent labor, etc.)
- Concerned that you may be paying for contractors or consultants that are over-priced for today’s market?
- Concerned that you may be paying for a consultant when a lower-priced skill would be more appropriate?
Standard engagement practices improve effectiveness and mitigate risks. Without proper controls, many contingent workers – especially the phantom workforce – can create significant risks:
- Independent Contractors that could be classified as employees.
- Retiree’s, coming back as I.C.’s, exposing the company’s retirement plan tax status.
- Not compensated to DOL’s regulations, such as paying premium overtime.
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