Behind the Scenes Work Required to Hire Reliable Suppliers
Jun 21, 2016
Although it seems like a time- and resource-saver for multinational companies to hire contracted professionals to efficiently work within their specific industries on a large project, there is plenty of legwork that is required for businesses to ensure their compliance standards are followed. When companies utilize contractors, do they really save valuable resources like training time and money, or is more actually spent working to ensure all contractors are sufficiently trained for duty?
Businesses should take the following precautions when doing in-house contractor management:
- Receive several contractor bids, which should all detail costs, expected work, schedules and guarantees. Be wary of accepting the lowest bids, which may be an indication of a fraudulent or non-compliant contractor.
- Ask for proof of industry licenses and training, then keep a record of the license numbers. Check for proof that the business follows local laws and check resources if necessary.
- Keep copies of all signed documents and files, including payment scheduling, receipts and certificates of completion. Make sure that completion certificates are only signed when the job is finished to the hiring company's satisfaction.
Although some of this may sound like common knowledge for many large corporations that regularly employ contractors, the issue has been a hot topic in recent news.
Businesses may do their part in spotting corruption and a disregard for compliance by being involved in every aspect of hiring and managing work contractors; however, that requires plenty of time, resources and attention on the corporation's part. With the help of third-party companies like BROWZ, companies may spend their time managing other business aspects and leave time-consuming compliance management issue up to the experts.