Staffing Industry Review (02/01/12) Craig Johnson
The number of staffing clients saying they let temporary workers go because of assignment time limits in 2011—66%—was up from 55% that said they had assignment limits in 2009, according to a survey of staffing buyers by Staffing Industry Analysts. A majority of buyers cited “legal/co-employment risk” concerns as a reason for assignment limits, with “union agreements” and “historical decision of previous managers” also often cited. The survey polled 236 staffing buyers from large firms that employ more than 1,000 people.
The specter of the lawsuit Vizcaino v. Microsoft also lingers. In that case, from more than a decade ago, independent contractors sued Microsoft after a U.S. Internal Revenue Service audit ruled they were common law employees. The workers sued the company for unpaid benefits, and Microsoft ended up settling the “retro-benefits” case for $97 million.
Exclusive Guide to Factoring for Staffing Companies
Whether your firm needs working capital to hire new talent, maximize a marketing opportunity, or extend client payment terms, factoring allows staffing companies to convert unpaid invoices into cash today. Download now to get answers to the top 10 questions related to accessing working capital via invoice financing.