Safely Engage and Manage ICs
One transparent solution
What if there was a worry-free way to streamline and reduce the cost of leveraging independent contractors to fill your talent needs and be in compliance with all federal and state regulations?
Happily, there is! Our Agent-of-Record (AOR) engagement solution, provides you straight-forward ways to safely, efficiently and economically administer and pay your qualified independent contractors (ICs).
How it works for employers
TalentWave’s IC engagement solution is powered by iConnect®, our cloud-based, enterprise service delivery platform. iConnect lets your staff and contractors see what’s happening during the IC engagement and payment process while providing the necessary administrative tools for the TalentWave Client Services team.
- TalentWave engages qualified ICs on your behalf.
- We act as the intermediary between your company and the individual workers, ensuring appropriate worker classification.
- We handle invoices and payments and issue a 1099 at year-end.
The Benefits of IC Engagement
TalentWave’s AOR Service
Onboarding documentation management
Compliance with client policies for background checks, drug screens, NDAs and more
Contract administration
Online invoice submission, expense reporting and approval
SOW execution
State reporting requirements
End of year 1099
Audit defense files maintained
Single point of contact throughout assignment
Risk mitigation for IC compliance
Purchasing and Accounting personnel relieved
Invoicing and payment managed
Additional layer of insulation between company and potential audit
Reliable issuance of tax documents
End-of-engagement management
Your IC workforce becomes a single line-item
If you engage many independent workers, you know that back-office operations can be a burden.
With our IC engagement process, TalentWave administers all the back-office functions related to independent contractors, payment distribution and government reporting requirements.
Simply maintain a single vendor relationship with TalentWave, and all your IC spending is consolidated into a single line-item.
How it works for contractors
- Contractors submit invoices through the system.
- They can track invoices as they move through the approval and payment process.
- Contractors receive their electronic payments directly into their bank accounts.
Year-end tax forms are mailed to your contractors.
Compliance made easy
The IC verification module within iConnect ensures your company is in full compliance with federal and state reporting requirements. During the iConnect set-up, TalentWave is documented as your AOR. All required disclosures and disclaimers are also communicated to the contractor. At year-end, tax reports are automatically filed with the appropriate agencies.