When it comes to onboarding full-time workers, most businesses have processes in place that comply with local, state and federal laws. Onboarding a freelancer from another country, however, adds a whole new layer of complexity to your company’s processes. There’s a genuine need for technology that can provide insights and automation in the freelance economy, especially as it relates to collecting the right tax forms and adhering to the right employment laws.
There’s a genuine need for technology that can provide insights and automation in the freelance economy, especially as it relates to collecting the right tax forms and adhering to the right employment laws. IdentityMind produces RegTech, a platform designed to help small and medium-sized businesses remain compliant. The company this past fall opened IdentityMind Global, a store where customers can purchase compliance technology and integrate it into their existing workflows.
Companies like IdentityMind understand the need for technology solutions that fill in compliance gaps. From onboarding to taxes to benefits, there’s a large chunk of the freelance economy that needs some serious attention. But what type of technology can help?
Managing the Freelance Economy.
Micha Kaufman, CEO and co-founder of Fiverr, believes the freelance ecosystem will become a viable solution for entrepreneurs who need assistance with a variety of tasks for their growing businesses.
“The more we can nurture the freelance economy, by recognizing some of the instability that comes with it, the stronger and more diverse New York’s (and the country’s) future businesses will be,” Kaufman wrote.
Before the freelance economy can flourish, though, business leaders need technology that can help them manage and support freelancers as well as they treat full-time employees. Here are three types of technology that companies can use today to get started:
- Freelance Management Systems: Many companies still onboard freelancers either as if they’re traditional vendors or through processes originally designed for full-time employees. Neither method actually fits the needs of freelancers, which causes headaches for everyone involved. There are new approaches available to help, though.
A freelance management system (FMS) can help businesses manage freelancers, authenticate credentials, create a roster of workers, coordinate payroll and much more. More companies have adopted these platforms in the past five years to have a dedicated system of record for this growing workforce. An FMS can handle the day-to-day record keeping, allowing your freelance operations to scale without compliance concerns.
Change the narrative around freelancers. Your current language about freelancers probably is something along the lines of how they take on the duties your full-time team doesn’t have time to handle. It’s time to flip that on its head. Talk about how you have hired these workers for their skills instead of as one-off employees who are just doing the dirty work.
Continue reading the rest of the article at YoungUpstarts.com to discover the other two types of technology that companies can use today to get started.