Did you know about 57 million Americans (or 36% of the US workforce) are freelancing, which is defined as performing supplemental, temporary, project- or contract-based work? Based on current growth, a study predicts the majority of the US workforce will be freelancing within the next 10 years.
Using freelancers and other contingent workers – such as independent contractors, leased employees, consultants, on-call workers, part-time workers and temporary employees – can help companies save money, lower their administrative burden, acquire workers with unique skills that their current workforce lacks, and even “test drive” workers before taking them on as full-time employees.
However, using contingent workers can result in a business owing back taxes, benefits and other penalties if a worker is misclassified and can heighten the risks of trade secret leaks, sexual harassment and discrimination.
We share four practical tips to help HR realize the benefits of contingent labor while minimizing the inherent risks.
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