Today, one in five American workers are freelance or contract workers. In the next decade, NPR reports contractors will make up more than half of the American workforce. If you’re an employer, you’re going to have some decisions to make in the future: Does your workforce remain full-time or will you opt for alternative employment arrangements? The chances are high that you may already be grappling with this issue. How can an employer of record help your business with these options? In this blog, we will answer a number of commonly asked questions by our clients about the types of contract workers FoxHire offers and how they can help your company in these new work arrangements.
Employer of Record and Contract Workers—What You Need to Know
FoxHire has carved out a niche as an employer of record (EOR). Your company employs us to handle the difficulties inherent in managing contract workers. Our team can handle all of the personnel and administrative functions of contract workers, including:
- Benefits administration
- And more
Companies can ala carte these services or entrust the entire contractor process to FoxHire. As an EOR, we eliminate the need for a company to register in different states, which allows our clients to expand rapidly across geographic territories. We can also help companies expand and contract by providing contractors on an as-needed basis.
In terms of our contracting services, we find companies often ask the following questions:
- How are contractors paid? Beginning with our onboarding process, we have new contractors register in our online contractor portal. This easy-to-use site allows workers to simply fill in the blanks, and we take care of everything else. This same portal allows workers to go online, even from their cell phones, and record their timesheets. The contractor fills out their timesheet each week, and the company verifies the time worked so the contractor can be paid. We make smart use of computer automation so that this process is simple, seamless, and also compliant with all local, state, and federal rules. We even offer your contractors direct deposit as an option to make getting paid easy. They can then dial back into their online personalized portal to see their paystubs.
- What about contractor health benefits? One of the most significant benefits for employees is health insurance, retirement, and other perks. In fact, today, it’s hard to attract candidates without these benefits. At FoxHire we offer our contractors a choice of several types of health insurance benefits. We manage these services so you don’t have to. Offering health insurance is a great way to attract a better caliber of workers to your business. This shines a positive light on working at your company, given that the majority of contract workers are seeking these benefits, but only 46% of companies offer them.
Partner With the Experts!
FoxHire is one of the nation’s leading EOR companies. Talk with our team today about how we can help you manage the new world of employee contracting. We’re just a phone call away!