Written by Frank Pennachio, Co-Founder Oceanus Partners
The workplace doesn’t look like it used to look. More and more employees are working from home, or other remote locations. There is an increasing use of temporary labor, and independent contractors. And, some employers are outsourcing the employee administration, payroll, and human resource functions to Professional Employer Organizations, also known as employee leasing.
These changes seem to have gradually, and almost imperceptibly, evolved over time. As a result, most employers may not be aware of how these changes pose new and emerging risks to their business. Alternative workforce arrangements require a new and fresh look at risk management strategies and techniques.
Would you be surprised to discover that securing a certificate of insurance from a temporary labor company is not enough to protect your interests? What if you were to discover you are on the hook for taxes, fines and penalties because what you thought was an independent contractor arrangement was deemed to be an employment one? Has anyone shared with you the new risks that arise from an employee leasing arrangement?
Register today for our final CEO Seminar Series workshop: Workers’ Comp & Injured Employees to learn how you can avoid the negative consequences and harmful effects of these emerging risks to your company.