Basic Companies Pricing
The Solo Workforce premium employer of record pricing model addresses all three primary stakeholders: Consultants, Companies and Recruiters. This blog post explains how: "Employer-of-Record Pricing: What Are You Paying?"
Basic Management Fee
We charge our clients a basic management fee equal to 4.25% of the consultant’s billing rate. The management fee is added as a separate line item on the invoice and covers our cost for managing contingent worker compliance, risk mitigation, benefits administration, payroll processing and tax reporting.
Our Basic Management Fee Covers the Following Services
- Evaluation and assessment of contingent worker status based on characteristics of the contingent worker and the nature of your relationship with the contingent worker.
- Compliance files, compliance tracking and automated compliance alerts to assure that Certified IC independent contractors remain in compliance for the duration of their engagement on your project.
- Convert non-compliant contingent workers to Warranted W-2 employees of Solo Workforce.
- Ensure maximum contingent worker satisfaction by offering the most comprehensive tax-advantaged employment and employee benefits available to any independent professional anywhere in the United States.
- Virtually eliminate the threat of contingent worker reclassification, costly class-action lawsuits and government audits.
- Manage engagement of internally sourced contract professionals and adherence to contract terms.
- Timely and efficient onboarding and offboarding with COBRA.
- Integration with on-site vendor management systems as required.
Liability Risk Management
- A complete and comprehensive suite of liability insurance policies.
- Simplified workflow through available consolidated invoicing, vendor management and vendor-on-premise solutions.
- Manage online digital timesheets and business expense reporting.
- Accurate and timely submission of invoices for authorized work and approved expenses.
- Payroll processing upon receipt of payment for approved work.
- Accurate payroll processing and tax reporting in compliance with local, state and federal regulations.
- Processing either IRS Form W-2 or IRS Form 1099 for every contingent worker.
- Streamlined administration and consolidated processing delivers immediate and significant reduction in workforce spend for your internally sourced contract professionals.
2% Surcharge for Payroll in Advance of Payment.
Normally, we process payroll on the first regular payday following receipt of payment from the client. Occasionally a client asks us to process payroll in advance of payment, in which case we add a 2% surcharge to the consultant's billing rate to cover the cost of payroll financing.
1% Surcharge for Non-US Citizens
Occasionally, a client asks us to sponsor the work visa for a non-US citizen. We add a surcharge equal to 1% of the basic invoiced amount to manage and employ a non-US citizen.