October 2016

The Department of Labor’s Fair Labor Standards Act (FSLA) will make about 4 million more workers eligible for overtime on December 1st, 2016. With 21 states suing to end the act altogether, some businesses may be hoping it all just goes away before they have to make changes. But waiting is risky. Getting ready for upcoming changes now ensures companies stay in good standing with employees and the government, too.

Four ways to prepare for payrolling contract employees in light of new rules

1. Provide a daily guarantee for a pre-negotiated flat rate for contractors. Budget for overtime if applicable.

2. Start tracking time accurately. Businesses and contractors using obligatory, inaccurate timecards need time to adjust to new processes.

3. Classify workers correctly upfront. This is a big one because it sets you up for success. In fact, you can read a whole slew of advice on the topic by clicking here.

4. Read our previous posts on what the Volkswagon scandal teaches us about the FSLA and payrolling and four ways to prepare for changes to contractor payroll.

The production industry must adapt to remain competitive. And it may wreak havoc on some budgets in the short term. But this whole thing goes beyond the numbers. Companies that treat people fairly attract high-quality workers. And when people feel valued, they go above and beyond. Proactive compliance is good business.

About PayReel

Producing multimedia content and executing live events is chaotic. At PayReel, we make sure our clients are able to hire who they want when they want and that everyone is paid properly. Leave the details up to the PayReel team so you can focus on pulling off a flawless production. Contact us anytime at 303-526-4900 or by emailing us here.

Relax. We got it.

Time is money. And when you have a tendency to get buried under onboarding, vendor payment, classifying temporary employees, and other hiring details, time is priceless. Here’s a brief quiz to determine if hiring someone to handle your payroll services might be worth the investment.

Do you regularly hire independent contractors and/or temporary employees?

Is said hiring and onboarding one of the most time-consuming parts of your role?

Do old-school payment processes or corporate legal concerns cause frustrating bottlenecks?

Is your desk/desktop cluttered with binders, folders, and paperwork?

Have you ever made a contracting bad hire because of a time crunch?

Do you get pulled into fighting payrolling fires at least once a month?

Would a high level of service free you up to focus on other aspects of the business?

Do concerns about compliance, worker classification, IRS audits, and workforce headcount keep you up at night?

Have you ever lost favor with one of your best contractors by paying late?

Do you have a reputation among contractors for paying late?

Not everyone needs a service like PayReel (especially startups and small businesses), but if your blood pressure went up as you read the list above, you might need PayReel. For those who need quick/frequent access to qualified contractors or who want to take all the risk out of dealing with the independent workforce, PayReel is a headache-free solution. PayReel’s independent workforce engagement solutions make classifying, onboarding, and paying your freelancers painless, paperless, and personalized. It’s about time.

PayReel’s clients, who are some of the biggest companies in the world, are constantly immersed in the chaos of producing multimedia content or executing live events. PayReel makes sure they have the right contractors at the right time in the right place, and that everyone gets paid properly. And, most importantly, they handle every last detail perfectly while making sure their clients think nothing of it. Relax. We got it.