Independent Contractor Payroll refers to the tasks an organization must execute to ensure Independent Contractors are paid correctly and on time in accordance with their contract or Statement of Work (SOW).
Engaging Independent Contractors is practiced as a strategic outsourcing tactic around the world. Yet, contractor payroll is a complex, time consuming process, and staying on top of the frequent changes to legislation can be problematic. Any oversights will result in non-compliance, which could lead to serious fines and negative employer branding.
Fortunately, however, there are methods to help mitigate these risks, and organizations don’t have to face the threats that come with a contingent workforce and complicated payroll models alone.
Understanding contractor payroll models and employer burden costs in Canada
