There are many documented benefits to engaging a contingent workforce in your roster of staff. But looking a step further, just how well are you keeping your contingent workforce accountable for value? With a healthy mix of permanent employees and contractor staff, it’s so easy to lose track of the data indicating your return of investment, let alone keep on top of efficiently managing your workers’ projects and value.
Do you have access to the right tools?
Do you have an efficient system in place that allows you to easily see how many of your workers are contractors? Or what projects they’ve been hired for? What about where they’re located? Or whether your business is sticking to the employment budget?
It doesn’t need to be difficult to answer these questions, nor should they put you off hiring contractors. But without having the right contractor management system in place, you could be missing out on key insights on the costs and benefits to your business.
Do you have the expertise required?
Whether or not you have the right reporting tools. the requirements of hiring contractors is a different kettle of fish than your usual permanent employees. While having contingent staff can be very rewarding for your business and workflow, one of the most important things to keep on top of is ensuring compliance. This will help protect your business and prevent it from being open to risk.
However, this also requires adequate knowledge on not just contractor payroll and back office functions, but also insurance required, any onsite OH&S training that needs completing and the necessary legal certifications that might come as part of your contractor’s role.
So what can you do about it?
If you want to manage your contingent workforce efficiently and effectively, you’re better off consulting the experts. Engaging the services of a contractor management company means your contractor payroll, insurances, expense processing, and risk mitigation is easily taken care of by professionals who specialise in each area. In addition to all of this, you will gain access to detailed reporting functions through a secure and reliable client portal, giving you more control and visibility of your contractors.
For more information on the contractor payroll and management solutions Oncore can offer you in Australia and the UK, contact us today!