4 Common Concerns About Contractor Compliance Outsourcing And How We Address Them
Industry Information |Risk Management |December 19, 2022
Outsourcing contractor compliance services can be hugely beneficial to a business, but can also come with its own set of perceived concerns. In this blog, our industry-leadingcompliance team addresses these common concerns about contractor compliance outsourcing to put you and your business at ease.
Relying on an extended workforce to provide products and services for customers can be a huge asset to many organizations. These contractors often have specialized skills, and working with them as a contractor and not as an employee allows a company to take advantage of those skills while avoiding some of the costs associated with hiring in-house employees. That being said, these contractor arrangements do come with their own risks, which organizations need to mitigate with an effective compliance program.
Many organizations choose to outsource their contractor compliance services to an experienced compliance partner, like PlusOneSolutions. Managing compliance can be complex and often involves staying on top of regulation and understanding risk transfer through means such as insurance. Having an experienced compliance partner will ensure that it is done right and efficiently.
If your organization has been conducting compliancetasks in-house, you may now be wondering if this outsourced option is right for you.
While the advantages to outsourcing compliance are too numerous to list, there may also be some perceived disadvantages. At PlusOne Solutions, we have worked to check and adjust our services to address these concerns for our clients.
Common Concerns About Contractor Compliance Outsourcing
Perceived loss of control
Making the switch to an outsourced compliance partner may feel like a big step for many organizations. Leaving these tasks to experts who handle them daily means you are relying on someone who is better equipped to accomplish them with precision and efficiency.
Both PlusOne’s onboarding process for new clients and our approach with existing clients are designed to ensure we are consistentlyupholdingtheir requirements and maintaining a detailed understanding of their compliance goals.
Outsourcing compliance can mean an added line item in the monthly budget for an organization, and it can be tempting to skip this option and find someone in your organization and combine compliance management with their current role. The fact is that the risk of an ineffective compliance program is much greater than the cost of an effective one. Plus, this will only pull them away from their existing tasks and place the extreme responsibility of complianceand risk management in the hands of someone with perhaps very little to no expertise in that area.
Working with an underinsured or uninsured contractor can leave your organization exposed and financially liable if an accident were to happen or an issue were to arise. Using the services of a contractor with a possibly dangerous criminal history, or having inadequate insurance coverage to address a job site issue can damage your reputation. We encourage our clients to carefully weigh the cost and benefit of contractor compliance services.
No one knows your business like you, but contractor compliance is what we specialize in. At PlusOne Solutions, our work weeks are built around the risk management services that we provide to our clients, and those services are accomplished by highly-experienced individualswho have operated in the compliance realm for years. We provide certainty to businesses in the contractor engagement process through a comprehensive selection of background checks, drug testing, and compliance management solutions. Our leadership team has decades of experience in operations and contractor and vendor networks, and this allows us to bring that experience to your organization.
Besides saving money from a budgetary perspective, outsourcing compliance also ensures that your organization is actively working to reduce exposureto potential litigation and be on the hook for any costs associated with faulty work or products. Lawsuits, settlements, and denied insurance claims can be extremely costly, and a thorough compliance strategycan protect your company.
We consider ourselves to be your true compliance partner, and we can assist you in developing a program that matches your needs.
If you would like to learn more about our contractor compliance solutions, reach out to us today. We look forward to hearing from you.
Contents are provided for information purposes only and should not be construed as legal advice. Users are reminded to seek legal counsel with respect to their obligations and use of PlusOne Solutions services.
About PlusOne Solutions
PlusOne Solutions has been an industry leader in the risk management field by specializing in compliance programs that meet the complex challenges of geographically dispersed contractors, vendors, and employee networks. PlusOne Solutions protects companies from possible financial, legal, and reputational risks associated with contractorand vendor relationships while creating safer work environments. To learn more, visit https://www.PlusOneSolutions.net.
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