Read the latest news headlines?
Federal, state, and local government agencies are increasing efforts to ensure that independent contractors (ICs) are appropriately classified, taxes are collected and workers’ rights are fully protected.
The risks for misclassifying workers can be steep: distraction of your management team, brand reputation damage, large fines and possibly criminal charges. Often, the risks are even greater because misclassification can be applied retroactively.
A solution you can trust
TalentWave’s got you covered! We can help you stay safe when engaging independent workers with our industry-leading classification process, an integral part of our cloud-based service delivery platform, iConnect®.
TalentWave helps companies validate proper classification of ICs and ensure compliance in minutes! We automate, screen, track and deliver an accurate classification along with a comprehensive audit file for each contractor.
How does it work?
- The iConnect platform delivers a brief survey to your hiring manager to evaluate your project or statement of work.
- The business structure of the IC and the relationship with your company are evaluated through a similar survey.
- Based on IRS-20 factors and individual state tests, a proprietary algorithm evaluates each unique worker and engagement.
- Within minutes, our IC verification process delivers a proven, accurate, objective classification recommendation whether you submit 2 or 100 evaluations simultaneously. Our team of subject matter experts helps translate any gray areas for both contractors and engagement managers.
- After a recommendation is provided, our professional compliance experts validate your contractor’s business structure and create audit defense files for each project. More than providing point-in-time or snapshot-only compliance, we review and evaluate all active projects every six months and collect updated supporting documents to ensure ongoing compliance for longer-term and risk-mitigated engagements
- All supporting documentation is gathered and stored for future use and can be a safety net in the event of an audit.