What is the definition of non-standard talent?
Non-standard talent in Canada is defined as anyone that engages in non-permanent work. This would include temporary workers (permanent or part-time), self-employed workers, contractors, return to work alumni or retirees, casual workers, seasonal workers, and project talent. They may be hired and paid directly by the company, through a staffing agency, or by invoice.
What is the cost to use an Anchor VMS solution?
The Anchor VMS solution can be fully funded by the vendors in the program, on a fee basis paid for by the company, or a combination of both. In a vendor based model our fee is calculated based upon a percentage of the monthly invoice associated with non-standard talent.
If your company is only interested in Advisory Services this will be assessed on a case by case basis depending on the size & scope of the non-talent population.
How long does it take to implement the Anchor VMS solution?
The Advisory stage can take 3-4 weeks depending on availability of information and the size of the company. Once the custom solution is created, it takes several weeks to implement the plan and then there is very close monitoring for the first several months to ensure that all directives are met.
Will implementing the program adversely affect our vendor relationships?
You will not lose your current vendors. In fact, we will continue to use all of your current vendors if they are able to meet the compliance standards required to be on the vendor list. They will enjoy better communication and increased opportunities across your company as a result of being part of the Anchor VMS syndicate.
How will accounting be billed by the vendors and independent contractors after implementation?
One of the best features of this type of solution is its full visibility to finance! They will receive only one invoice per month that can be categorized and/or coded to suit your accounting procedures. Anchor VMS will invoice Finance directly, payment will be made to Anchor VMS and we in turn remit payment to all vendors and independents in the syndicate. If desired, we can utilize early pay and volume discounts to ensure that you are getting the best talent at the best rates.
We have some contractors that have been working here for years. Are we at risk even if they are giving us a bill?
Yes, you are definitely at risk. Far too often, employers don’t appreciate that their independent contractors and consultants may actually be employees. It does not typically matter whether there is a contract in place or how these individuals are classified by the organization. These are only two of many factors that a court or regulatory body (such as the Canada Revenue Agency) will consider in assessing who holds the legal responsibility for these individuals.
A mistaken characterization of a contractor versus an employee, can lead to outcomes such as tax penalties, wrongful dismissal complaints, workplace safety and insurance violations and vicarious liability for harassment or negligence.
What are the benefits of switching to an automated time entry system?
Manual time entry has an estimated error rate of 1-8%. Studies have proven that employees are overpaid an average of 4.5 hours per week. This is due to calculation error and human contact. It takes approximately 5 minutes to process each and every time card. By using a time entry system, you can also control the overpayments made to employees by lateness, long lunches, breaks, early departures, and “buddy” entries.
What is a rate card?
A rate card is an effective way to manage the cost associated with hiring non-standard talent. To accurately reflect your needs, Anchor VMS will review the current markets within your industry and create a standard rate range that will be assigned to each job classification. If you have non-standard talent all over the country or world, each region will be represented with the appropriate rate card. Having a rate card levels the playing field for all the vendors, allows you to effectively forecast future spend, and it will mitigate co-employment risk by limiting payroll conversations and pay rate conversion issues.
How much will I save by using Anchor VMS?
This will depend on the size of your non-standard talent population and the service model you choose but, in general, you can expect a savings of 10-20% on your current costs. Most companies are surprised at this number but outsourcing this function is highly efficient, and your “C Suite” will immediately recognize the shareholder value.
Our company has non-standard talent globally with different cost centres, and managers, etc. Can a vendor management service still work for us?
The more complex the non-standard talent scenario, the more value Anchor VMS will bring to your company. Our solutions effectively organize very complicated situations by streamlining the entire process and returning your permanent staff to their core competencies. The manager’s request to hire, the approval path, the selection process, the on boarding, the time management, the consolidated invoicing, the real-time reporting, and the visibility and cost is all optimized by Anchor VMS without losing any of your current control. We operate as your partner with open and clear business practices.