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October 08, 2014

Companies Largely Unaware of Financial Risk of Independent Contractor Misclassification, Reveals ICon Survey Report

By: Ann Warren
ClearEdge Marketing
awarren@clearedgemarketing.com
October 06, 2014 02:26 PM Eastern Daylight Time

FOSTER CITY, Calif.--(BUSINESS WIRE)--Companies utilizing an independent contractor workforce are facing a much larger financial risk of misclassification than they anticipate, according to a new survey report from ICon Professional Services, a leader in independent contractor compliance. Released today, the report reveals a clear and significant gap between the facts of misclassification risk and the perception of what executives believe to be true. With the contingent labor market on the rise – 84 percent of organizations surveyed will maintain or increase investment in independent contractors in 2015 – organizations recognize the benefits an independent contractor workforce brings to the business but are unclear on the growing risks.  Read more...

1 comment:

  1. Companies need to still be thoughtful when hiring workers as independent contractors. The federal and state government are still very active in searching for misclassified workers and when they find them the penalties and interest can be quite damaging.

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