With multiple Recruitment Agencies managing different groups of contractors it can be extremely difficult to ensure company guidelines and policies are enforced.
By using a Contractor Management Organization (CMO) to handle all contractor management, requirements can be stipulated and Key Performance Indicators developed to insure they are being met for each and every contractor.
Talent management is a critical function for most organizations
CMOs specialize in contractor talent management. Using subject matter experts allows companies to transfer complex and time consuming HR functions as well as mitigating employment compliance liability.
The CMO can take care of statutory requirements, such as insurances and tax, and manage all the processes relating to:
Contract templates and the processes around contract generation, signing, extensions and termination notices.
A CMO is usually able to cover the contractor with Professional Indemnity and Professional Liability insurance.
Assisting with integrating new contractors into the business. Including mobility services, timesheet, expense submission etc.
Occupational Safety & Health (OSH)
Provide a comprehensive program to induct and provide ongoing information for all OSH matters.
Online timesheet system with electronic notification and authorization to manage billable time.
Consolidation of invoices from all contractors in the organization.
Options to provide payroll to all contractors and/or permanent staff.
Management of margin distribution to the recruitment agency panel and down-stream agencies.
Contractor tax management
Provide contractors with options on business structures for tax efficiency.
Comprehensive contractor support
Contractor support structures are icing on the cake, turning a one time contractor into a ‘Professional Contractor’ who remains part of the company or Recruitment Agency contractor talent pool.
Profit through centralized Contractor Management
- Standardized contingent workforce management processes
- Sophisticated reporting and tracking systems
- Ability to track contingent workforce spend
- Internal review processes of compliance
- Repositories for current and past workers
With talent becoming scarce, effective and efficient contractor management allows companies to remain agile, efficient and dynamic.
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