Contract Workforce Management: At your service

When it comes to the services industry, it is essential to get a good ERP solution to manage the large contract workforce

There is no denying that the gig economy is steadily growing, and as much as it is influencing the worldwide economy, it is equally impacting workforce dynamics and payroll. The underlying fact would be that the number of contract workers is increasing. A 2017 report by Upwork pointed that close to 57.3 million Americans, or 36% of the workforce, are now freelancing. Last year, the number of contract workers in Google exceeded the number of direct employees for the first time in its 20 years of existence. That reflects today’s trend. Be it tech companies, transportation network giants, hospitality companies or construction labor suppliers, a lot of companies look to hiring contract workforce to cut down on HR costs and hire temporary on-demand skills.

Contract workforce consists of a labor pool whose members are hired by an organization on an on-demand basis from different staffing suppliers. It is crucial to ensure mapping the right talent for the right job, paying them on time and also ensure compliance with the local statutory needs according to their contract labor law; among other aspects. A good Contract Workforce Management System (CWMS) helps the principal employer in managing the contract workforce. The payroll and statutory remittances pertaining to the contract worker is generally done by the relevant staffing company which has supplied the resource. While maintaining this contract workforce, the principal employer faces the following challenges:

Know More About: https://www.ramco.com/blog/contract-workforce-management-at-your-service

Comments

How Top ERP Solutions Are Powering the Next Wave of Digital Transformation

Digital transformation has evolved from a buzzword into a fundamental business strategy. It’s no longer about adopting new technology for the sake of modernization — it’s about rethinking how the enterprise operates. And at the center of this shift lies the ERP system, the backbone that connects finance, operations, supply chain, and people into one intelligent ecosystem. Over the last few years, the role of ERP has expanded far beyond transactional management. Today’s top ERP solutions are intelligent, connected, and capable of learning from the data they process. They are not just supporting transformation; they are driving it. The shift in enterprise needs The way enterprises approach ERP has changed. Traditional systems were built for stability and control - they helped automate processes and ensure consistency. But the modern business environment demands more. Agility, speed, and real-time intelligence have become the new priorities. Organizations are now looking for systems that ...

How Payroll Solutions Reduce Compliance Risks

If there’s one area businesses can’t afford to get wrong, it’s payroll compliance. From tax deductions and superannuation to labor laws and reporting standards, the rules are complex—and they’re constantly changing. Missing a deadline, miscalculating a contribution, or applying the wrong rule can cost a company thousands in penalties, not to mention damage to its reputation. That’s why many organizations are turning to payroll solutions to take the stress out of compliance. Let’s explore how the right payroll software helps reduce compliance risks and keeps businesses running smoothly. The Complexity of Compliance Payroll isn’t just about paying salaries. Every pay run involves a maze of regulations—income tax, overtime rules, retirement contributions, benefits, and country- or state-specific labor laws. For global companies, multiply that complexity across multiple jurisdictions, and the risk of error skyrockets. Without proper systems in place, HR and finance teams often spend hour...

Migration or Reinvention? Why More Enterprises Are Choosing AI-Driven Alternatives for SAP

For decades, SAP has been the backbone of enterprise operations across industries. It brought structure, standardization, and control to complex global processes. But as the S/4HANA migration era unfolds, many organizations are re-evaluating their next move. Should they continue along the SAP path, or is it time to explore something different? This moment isn’t just about technology upgrades — it’s about redefining how businesses run. Enterprises are looking for agility, real-time visibility, and intelligent automation. They want systems that move as fast as their markets do, not the other way around. The reality of SAP upgrades Upgrading within the SAP ecosystem sounds straightforward in theory. In practice, it’s anything but. Every customization, integration, and workflow built over the years must be analyzed and often re-engineered. The process can stretch over many months, consuming time, budget, and internal expertise. Licensing and cost structures have also become more complex, e...

Ramco Systems

Search This Blog