London, 18.08.2018
As IT talent becomes scares in many technology hubs like London, New York, Silicon Valley, Singapore, Sydney, Berlin and many other big cities, the employers are left with no other option than looking for talent elsewhere in the world. However, the ever-changing regulatory framework tremendously increases the cost and the administrative burden. If the visa, work permit and relocation costs are added to the equation, it becomes hardly possible to source the talent the business needs to thrive.
BREXIT and H1B visa regulations in the US further limit access to talent resulting in aggressive head-hunting strategies and inflated salaries. Deprived of the skilled workforce, the businesses face challenges to sustain growth and respond to the latest offerings of their competitors.
To provide a solution to the business, Transformify and Generate have designed an end-to-end solution that tremendously cuts the costs and mitigates the risks associated with relocating employees to new countries.
Via Transformify Freelancer Management System ( FMS), the employers can source top talent regardless of the location. Each role is open to applicants from all over the world who provide information about their skills, desired pay rate, location and willingness to relocate. Powerful candidate matching algorithms match the candidates to the jobs right for them saving time and streamlining the recruitment process. Reading endless CVs is also a thing of the past.
Once the right candidates are selected, the employers can benefit from the ‘’Test-and-Hire’’ or the ‘’Umbrella’’ solutions.
‘’Umbrella’’ Solution
The candidates are sourced via Transformify Recruitment CRM, hired and put on Generate’s payroll for as long as the business needs require an umbrella solution. An umbrella solution is perfect for the companies based in the US as the local legislation is quite demanding and restrictive and it is possible an independent contractor to be treated as an employee if the independent contractor has (i) only one client and (ii) the client can control the business hours and the start and the end of the working day among other requirements.
The CEO of Transformify, Lilia Stoyanov, said ‘’ An umbrella or contract staffing solution is perfectly addressing the needs of those businesses facing skilled labor shortages on their local markets. However, a typical umbrella solution doesn’t address the candidate sourcing needs. By joining forces with Generate, Transformify Freelancer Management System ( FMS) can provide an end-to-end recruitment solution to its clients that meets both the candidate sourcing and payroll and compliance needs.’’
Currently, Generate offers umbrella payroll solutions in a number of countries, including but not limited to Argentina, Australia, Austria, Bahrain, Bangladesh, Belgium, Brazil, Bulgaria, Canada, Chile, Croatia, China, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, India, Ireland, Italy, Japan, Kuwait, Latvia, Lithuania, Luxembourg, Mexico, Netherlands, New Zealand, Norway, Oman, Pakistan, Portugal, Qatar, Romania, Russia, Saudi Arabia, Singapore, Slovakia, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, UAE.
‘’Test-and-Hire’’ Solution
The candidates are hired as self-employed or independent contractors via Transformify Freelancer Management System (FMS). The billing/ self-billing and payment functionalities allow for the businesses to hire numerous self -employed and independent contractors but to set up, reconcile and receive invoices from only one vendor – Transformify a UK-based legal entity. During the test period, the candidates work out of the coworking offices of Transformify ‘s partners. Premium offers have been arranged with a number of coworking office providers including WeWork, Roam, SmartWorks, etc. All data privacy, time management, productivity and project management requirements of the clients are discussed, and custom solutions are provided on an individual basis.
Typically, the test period lasts from 3 to 6 months, but it can be shortened or extended. If the candidate is a good fit, the company can proceed and hire her/him directly by extending an employment offer. All visa, relocation, etc. arrangements can be outsourced to Transformify’s partners.
About Generate
Generate is a market-leading contractor payroll solutions provider, specialising in payroll management, outsourced employment, international services and limited company accounting. The key commitment is to provide contractors with the most effective, accurate and compliant payroll solutions. Generate is proud to work with the UK’s leading recruitment agencies, offering a streamlined service for contractors engaged on assignments
across the country, as well as operating over 35 active in-country payroll solutions for those working overseas. Leveraging extensive experience and expertise, Generate is able to constantly develop and improve the offered payroll solutions and services. Due to the constantly changing nature of the contracting industry, Generate strives to be one step ahead, continuously developing products to ensure contractors are kept tax-efficient while benefiting from a fully compliant service.
About Transformify
Trusted by businesses from 150+ countries, Transformify Freelancer Management System ( FMS) helps companies large and small to seamlessly source, onboard, manage and pay consultants, experts, independent contractors and freelancers.