The staffing industry is undergoing a sea change in terms of two key upcoming areas of concern in the year ahead – onboarding, and uncertainty about how government policy will affect business. In an increasingly competitive talent landscape, where employees determine whether to stay at a new job within their first six months, onboarding must play a much more important and expanded role focused on human resource activation and retention. To mitigate this, a somewhat ‘high-touch’ strategy can be used for nurturing and recruiting of candidates during the onboarding process.
Plus, with unemployment as low as it is, it will be a challenge to find the right talent. To a small extent, this uncertainty can be used to provide opportunities for staffing firms.
“The importance of effective onboarding has increased significantly these days since the average turnover at work is less than four years and lifetime employment strategies are out of date”
A business model that typically represents a market environment and facilitates commerce between private individuals is Consumer to consumer, or C2C. The basic essence of this model – something like an auction, or a newspaper, is to enable these relationships, helping buyers and sellers locate each other. Customers can benefit from the product competition space and easily find products that may otherwise be difficult to locate. With technology undergoing a change in dynamic and in the sharing economy, bigger intermediary companies are fostering enhanced C2C engagement.
In addition, margins are high for sellers because there are minimal costs due to the elimination of retailers or wholesalers from this engagement. C2C sites are convenient – sellers simply list their products online, and the buyers come to them. The C2C market is projected to show great profits in the future because of its cost-effectiveness. The cost of using third parties is declining, and the amount of products for sale by consumers is on a steady incline. Retailers, therefore, think that it is an important business model because of the popularity of social media and other online channels.
A W-2 form is issued for employers to have their employees fill out within the deadline set by the IRS. The IRS requires employers to report wage and salary information for employees on Form W-2. Your W-2 also reports the amount of state, federal, and other taxes withheld from your paycheck. As an employee, the information on your W-2 is extremely vital when filling your tax returns.
The IRS 1099 Form reports income from self-employment earnings, interest and dividends, government payments, and more. This form is usually used when the taxpayer has received income from other sources besides a regular wage-paying job. Some situations where the 1099 is often used is when an investor has received dividend payments from a mutual fund, company, or other investment, or when the investor has received interest payments from a bank, bond fund, or other investment. It is mandatory that this be filed during the tax season for the government to understand that it is receiving the correct amount of tax from the individual.
Paperwork and the importance of each document
Efficient tax administration can help encourage businesses to become formally registered and the economy to grow—and thus expand the tax base and increase tax revenues. At XDuce, we believe that administration that is unfair and capricious will bring the tax system into disrepute and weaken the legitimacy of government and filing your tax returns is one sure way of having a legitimate proof of your income. It not only helps in establishing a good record with the IT Department, but being tax compliant has other benefits in terms of availing loans – we ensure that you stay on top of your paperwork and provide your income tax return receipts that you have filed for the loan to be processed. XDuce ensures your organization’s compliance with tax laws, enables you to sustain the system and to provide support to programs and services that improve lives.
Background check completion
Hiring new employees is like walking a tightrope. With the changing face of today’s hiring climate, it is important to find the right candidate with the qualifications and integrity to do the job as it is simply not enough to accept candidates at face value. For employers, a background check is a reliable way of verifying claims made by job seekers during the hiring process.
An automated background check process can greatly improve the efficiency, accuracy, and timeliness of your employee onboarding. Not only does it improve the productivity of your human resources by providing them with tools that streamline the background check process, but it also saves time and money. XDuce facilitates secure background checks before onboarding with a heightened level of security due to the sensitive nature of the information. We ensure that the checks are streamlined and enable you to hire the most qualified people who will help grow your business. We help minimize exposure from employee liability by practicing due diligence in the hiring process and eliminate any factors pertaining to uncertainty.
An extremely effective and successful onboarding process requires that your new human resources are brought into the organization seamlessly and are prepared to make a positive impact on the company. XDuce helps facilitate a seamless onboarding processes that largely reduces paperwork and improves compliance. We ensure that induction training is automatically assigned and scheduled for new employees with the completion status tracked and reported.
XDuce not only thinks that it is actually the start of your organization’s interactions with its employees in regard to the state law compliance obligations, but also to see that the new hires are acclimated to their new role and are well aligned with the organizational objectives.
We facilitate the filling of the forms and processes associated with employee onboarding to basically eliminate any risks – both at the time of hire and through the employee’s time with your organization. XDuce also caters to the more challenging aspects of the onboarding process such as ensuring compliance with the state-specific new hire notification requirement, to ensure that they are implemented correctly within your organization.
Timesheet and expense instructions along with the payment details
HR leaders are now tasked with two important functions – recruitment and professional development; ensuring that the basic needs of employees are met; and protecting your organization through several levels of compliance. Timesheets are a vital part of an organization’s HR function as they largely help your business ensure that resources are being allocated correctly and are yielding a profit. Therefore, it is imperative that time management process be central to how you run your business. We help incorporate time management best practices to create an organizational vision and stress the importance of timesheets.
XDuce ensures that these processes essentially reduce time entry errors and help managers improve project scheduling. When you engage with us all onboarding documents are stored in a single secure server, including policy documents, employment agreements, induction checklists, employee handbooks and training course information. We help send automated reminders to managers and employees regarding the induction process and new employee set-up requirements.
Organizations that are largely built with a desire to establish an internal culture of mobility should consider redeployment as a standard workforce management program. As a talent retention strategy, redeployment is an effective method to retain the most skilled, market-ready team members for new roles within the organization.
Does your organization have the internal resources to manage and execute complex outplacement and redeployment programs to attract, retain and nurture the most valuable team members? If not, we help you with alternatives to layoffs and loss of talent. Our redeployment strategy enables a flexible and mobile workplace environment as part of a larger employer brand initiative, where your organization realizes the varied benefits of having a successful redeployment strategy in place. Our redeployment model can be an integral part of your organization’s strategy for promoting employee well-being, limiting liability, and protecting your brand value. Partner with XDuce for exploring new methodologies for talent retention and engagement solutions with programs that cater to today’s workforce.
The current market dynamics have employees largely prioritizing expedited career growth, remuneration, and job flexibility over job stability and security which was the erstwhile scenario. The staffing market is now burgeoning with contractual opportunities as this type of hiring largely focuses on a hassle-free recruitment process, greatly reducing the onus on the organization as well as the employees.
It is indeed an independent contractor’s world – what with the perks of setting your own hours to working in your comfort zone. In fact, many people have begun to favor this lifestyle over the conventional ‘nine-to-five’ workday.
The onus of a staffing agency head is too, therefore, master how to differentiate between independent contractors and employees. Learning how to properly configure payroll for any independent contractors you place factoring in Tax, EI, CPP and MED125 (Medicare) deductions is a common problem among staffing firms.
Also, the blistering pace at which technology and automation are moving also remains the core focus of staffing firms. Twenty-three percent rank automation as a top priority and 36 percent rank it as a top challenge. Still, the potential for significant opportunity remains. The ideal automation framework for effective onboarding forms the basic essence of cultural mastery, interpersonal network development, and strategy immersion and direction.
Within this framework, organizations will be able to create successful, strategic onboarding programs that transcend simple automation. Designing full-fledged programs for aligning employees with business goals keep them engaged and invested, therefore, positively impacting the bottom line.
Oracle has been delivering tremendous business value to various clients with recurring engagement in terms of providing viable and sustainable staffing and onboarding solutions. These top-notch staffing services are designed to accommodate today’s economic volatility and market dynamics along with onboarding automation during the prospecting, client engagement, or account management stages.
The real onboarding opportunity is in engineering the experiences that enable new hires to acclimate to company culture, understand opportunities and expectations, master the firm’s strategy, build valuable relationships and skills, create new value for the enterprise and begin to develop their careers within the firm.
Owing to this paradigm shift in the recruitment ecosystem, XDuce, as a trusted Oracle partner, has introduced specialized permanent and contractual staffing services. With our onboarding automation processes and best practices, we provide value to increase efficiency and boost human resource engagement. We work with you to understand the business processes and experiences with respect to new hires and create well-drafted staffing processes outsourced on vendor payroll.
We help determine the impact assessment in terms of success or failure, distinguish which of these make sense to try to influence and which the new hire or hiring manager alone can more efficiently address, and then design an approach for exercising that influence. We have the experience and tools to drive decision-making and help tailor solutions based on the organizational requirements such as classifying and paying independent contractors and onboarding. We also help set the tone for an inclusive, mission-driven culture in the crucial early days of employment.
With 2018 being a seemingly pivotal and profitable year, staffing firms are poised to handle the challenges ahead. Are you ready to be proactive – about owning the candidate experience, embracing new technology, and breaking new ground? After all, new human resources are an asset right from the moment they walk through your door. Engage with us to ensure that your human resources are efficiently recruited and managed for business excellence.