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The smart move that gives recruiters a competitive edge

Posted on May 30th, 2017 with No comments

Like most independent recruiters, you’d love to expand your business, increase revenue and offer your clients more choices.  Adding contract workers to the mix seems like a good way to do it – until you think about the devastating duo of never-ending paperwork and increased liability.

That’s where an Employer of Record (EOR) company comes in.  These HR and payroll pros take on all the back-office administration, allowing you to focus on what you do best — growing your business and wowing your clients.  Here’s how:

Onboard your contract employees at the speed of life

Bam!  New contracts, an uptick in business, seasonal fluctuations.  Your valued client’s staffing needs just changed — and they need more workers now. Which means you need to respond at a moment’s notice.  That’s where a seasoned Employer of Record company like IES comes in.  Your job?  Hire the best talent. Your EOR’s job?  Everything else. Making you a valuable resource for your clients — and making life a whole lot easier for you.

Eliminate the contract payrolling “black hole”

Ah, processing payroll. It’s a tricky and often treacherous reality that comes with every employee, but for contract workers, it’s even more complex. EOR’s take the headaches and hassles away by handling every aspect of contract worker payroll:  processing and funding, benefits administration, handling liability and unemployment insurance, filing employer taxes, processing employment paperwork and performing background checks and drug screens.

Sure, you could do it yourself.  But do you think you’d really have time to do anything else…like focusing on your clients and growing your business?  Probably not.  Even worse, these never-ending tasks add nothing to your bottom line — and they’re fraught with risk and liability.  Is that how you really want to spend the bulk of your workday?  Far better to put it all in the hands of an experienced Employer of Record firm.

Reduce inefficiencies…and rev up revenue

Imagine hours of free time back in your workday.  Web-based applications and cloud payrolling services.  They give recruiters, their clients and their new hires online access to all aspects of the hiring and payroll process — anytime, anywhere.  With just a click, they can easily access a host of downloadable forms — new hire paperwork, applications, timecard submission and approval materials, weekly paystubs and year-to-date earnings information. Even more?  Your hires have instant access to company forms, benefits information, employee handbooks, and more — increasing productivity and reducing errors, while greatly reducing time spent on paperwork.

Now let’s talk about getting you paid. A professional EOR firm like IES generates client invoices right when weekly payroll is processed. Plus, as soon as they receive payment from your client, you get a weekly profit check — and a high five from your bank account!

Reduce your liability

Seems like the Tax Man is always lying in wait.  And when it comes to contract workers, one innocent compliance mistake can trigger a hefty penalty.  It happens more often than you think.  Complex tax laws, constantly changing regulations, and stringent IRS guidelines make hiring contract workers akin to walking in a minefield– one false step and boom!  You get hit with a compliance error that’ll cost you.

A good Employer of Record firm takes all that risk off your plate.  Not only do they ensure your contract workers are classified correctly to meet IRS guidelines, they take on the legal responsibility for any compliance errors — letting you breathe a whole lot easier. 

National and international placement

Does keeping up with confusing state tax and employment regulations have you saying “no” to out-of-state assignments?  Does it seem like it’s just not worth the extra work? Partnering with a good EOR lets you bust through geographic boundaries and take on all contract placements — around the nation and around the world.  As one of the top payrolling companies nationwide, IES ensures your out-of-state placements are always paid in compliance with local and federal employment regulations and tax laws.  Freeing you from the risk of hefty noncompliance fees and penalties. So get growing!

Become a full-service contract staffing firm

By including contract staffing as part of your business strategy, you gain a steady income source and the ability to fill all of your client companies’ staffing needs. Independent contractors, temporary workers, seasonal workers or direct placements…now, you can provide it all.  It also safeguards your business by bringing in revenue even during economic downturns. And as a recruiter, you know the need for contingent workers is growing by leaps and bounds.  Adding contract employees with the help of a good EOR, can keep your business viable and lucrative well into the 21st century.

 

Since 1974, IES has helped thousands of independent recruiting firms in the U.S. and Canada, as one of the industry’s top Employer of Record companies.  Find out how our affordable, customized HR & payrolling solutions can increase revenue, reduce risk, and grow your business like never before.  The friendly pros at IES are ready to help you today.



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