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The Challenge
The financial services company operates around the world, engaging the best talent to fulfil stakeholder services. The company implemented a Managed Service Programme (MSP) to manage the contingent workforce lifecycle.
The financial services company needed to ensure that compliance to local country labour laws was achieved when engaging pre-identified workers across the globe for various projects. Local regulations were required to be met when onboarding the contingent workforce and paying them through payroll. They needed a trusted partner with the ability to transition seamlessly into the operation of their MSP, enhance compliant practices and mitigate risks globally, while providing a best-in-class service to their contingent workforce.
Solution
CXC partnered with the financial services company and their MSP to implement a compliant onboarding experience and payroll management solution for their referred contingent workforce. Working in a unified partnership, a robust delivery model was designed to enable a consistent streamlined approach to the compliant engagement of pre-identified workers across the company’s business functions. With worker experience at the heart of the solution, the service roll-out began with EMEA starting in the UK, Ireland and Germany in May 2022. This progressed swiftly on to APAC, Asia, and Americas.
The solution included end-to-end management of onboarding, compliance, vetting and payroll/payment processes in eight countries. Adherence to ‘in country’ labour regulations and industry standards were at the forefront of service delivery, to provide both the financial services company and the contingent workforce with a proactive consultancy approach delivering expertise, strategic engagement, and confidence.
Key services provided to the financial services company include:
- EoR and AoR Services – Delivery of a contract and payroll management solution for pre-identified contingent workers sourced by the financial services company.
- Dedicated Account Management team in region – A single point of contact for the financial services company across each region, providing support for the Company and contingent workers throughout the duration of the engagement to handle all queries and requests.
- Pre-engagement screening (PES) and onboarding management – This ensured that the worker had the legal right-to-work in the requested country and that all compliance documents were verified in line with local legislative requirements.
- Compliance, contract, and payroll/payment management to ensure that all parties knew their contractual obligations. Based on the approved time in the vendor management system, CXC ensured that we paid workers correctly and on time.
- As part of our compliance checks, CXC undertakes a risk assessment to ensure that the engagement type reflects how the client engages the worker.
- Local legal expertise – Regulations and industry best practices were adhered to. Failure to adhere to any country labour laws can result in fines for the client, as well as negative publicity.
- Beeline expertise and knowledge of VMS process. This was essential to manage the tenure of the worker assignment(s), pay and bill rate management for the workers.
- Facilitation of Beeline VMS activities, including tailored client onboarding.
- Assignment management including extensions, rate negotiation, early and on time terminations and off-boarding.
- In country entity, invoicing, and payment management.
CXC provided these services in conjunction with, and as part of, an MSP model who manage the end-to-end recruitment process for business units within the financial services company.
Results
- Strong strategic partnership held since 2022.
- AoR and EoR solutions delivered in multiple countries including in the UK, Ireland, Germany, India, Singapore, Australia, Japan, and Canada.
- Compliant engagement of referred temporary workers, independent contractors and consultancies, mitigating against the risk of any co-employment.
- Delivery of a scalable, streamlined, onboarding and contract management lifecycle from request through to payment activities, providing a seamless experience to workers and maximising productivity for the company.
- Secure onboarding and compliance self-service platform delivered and used for contingent worker engagement, driving efficiencies and ease to process steps.
- Management of contingent worker risk and compliance as per local law, minimising risks for the company.
- 100+ workers onboarded to deliver services to the financial services company.
- Guides, FAQs, and training documentation produced, ensuring new workers are clear on process and requirements, to provide a positive onboarding experience.
- Smooth payroll/payment management including on and offboarding to the payroll system, providing worker payment on time and efficiently.
- SLA adherence and process efficiencies.
Reach out today to explore how CXC’s EoR and AoR solutions can help you compliantly onboard and engage workers globally.
