A new NPR/Marist poll reveals that one in five jobs in the U.S. is held by a worker under contract. In fact, independent contractors could make up half of the entire workforce in the U.S. within the next decade.
More and more organizations have begun to see contractors and suppliers as valuable business partners intrinsic to driving service and product innovation. For many companies, especially those operating in highly regulated industries, managing compliance in-house for all of these suppliers can be burdensome.
But the cost of non-compliance — in the form of penalties, fines, productivity losses, settlement costs, and inefficiencies — is ruinous.
This white paper will discuss:
- The hidden costs of ignoring contractor management
- Best practices towards holistic compliance and governance
- The cost of different contractor management systems
- How to get the highest ROI in your supply chain