It is known to anyone that has undergone an effort to finish it that payrolling can be time-consuming.
Employer of Record Services
ICON Information Consultants provides Employer of Record (EOR) services. We essentially pay our clients' employees and serve as the Employer of Record. The client company is responsible for directing the employees' work, and the employees are considered workers for the client company. However, ICON Consultants is the primary employer for payroll, benefits, taxes, and other human resources and compliance functions.
BE SMART, STAY IN COMPLIANCE
By using ICON, you stay in compliance with the detailed rules, laws, and regulations, including state and local rules, which you may not desire or have the expertise or personnel to support.
Benefits of using ICON Information Consultants as your EOR include:
- HR Compliance Companies without specific expertise in human resource, tax, and data compliance can run into problems when handling payroll processing independently. This issue is becoming more of a reality as more and more state and local rules become common. ICON Consultants' EOR services allow our customers to avoid this significant risk, such as financial penalties or other business sanctions that come with being non-compliant.
- Time savings Payroll takes time to execute accurately. If payroll follows a unique schedule or occurs every week, it can occupy the bulk of a company's human resources' time. Using ICON's EOR services will save a company from the burden of supporting payroll on its own.
- Risk avoidance Classifying workers for worker's compensation and making sure benefit plans are correct comes with business risk. With ICON as your EOR, we indemnify you for any problems over the misclassification of workers and are responsible for the associated risk.
EOR Services include:
- Set up and manage payroll, taxes, tax contributions, and payment schedules.
- Implement and manage compliant client-specific hiring and onboarding process, including proper classification of employees and more, as mandated by local laws and regulations.
- Administer medical, dental, vision, and other client-specific benefits.
- Manage 401(k), commute reimbursement, flex spending accounts, and statutory mandated or client-specific items such as paid time off, paid sick leave, and more.
- Provide proper guidance and control of family or medical leave, workers' compensation, staff performance management, promotions, and terminations.
To explore more about ICON's Employee of Record services, click here to reach an ICON representative.
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Key Resources
Data Security - The Penalties Are Real. How It Affects Your Company.
Starting October 23rd 2019, the New York SHIELD Act goes into affect and impacts all busineses with employees working in the state of New York. Let ICON help you eliminate any risk you could face in complying with this new employee data security law.
10 Questions to Ask Yourself about Payroll
Answer these 10 questions to determine the health of your payrolling compliance.