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Important Resources for my folks in #tradecompliance, check out this report!

It is that time of year! 2024 Trade Compliance Salary Survey is out! https://lnkd.in/eZ5DKCmQ Greetings,   I'm excited to unveil the latest insights from our Trade Compliance Salary Survey! As we navigate another year of employment dynamics amidst global economic uncertainties, one thing remains clear: the demand for skilled Trade Compliance professionals remains unwavering. Despite the fluctuating economic terrain, the scarcity of talent in this field has persisted consistently over the past decade.   The importance of Trade Compliance professionals extends far beyond national borders. Multinational corporations are increasingly expanding their compliance teams across regions like the EU, APAC, and LATAM. This year, we observed relatively stagnant compensation in the US, largely attributed to market uncertainties. However, we've also witnessed a surge in demand for Export Control professionals, driven by the current global geopolitical climate.   On the employment front, while hybrid schedules continue to be popular, remote roles have experienced a decline, with only a fraction of US openings offering fully remote work. Nonetheless, the demand for Trade Compliance contractors remains strong, as companies rely on them for project-based assignments or to navigate hiring freezes. At Gateway Recruiting, we take pride in maintaining the largest database of available contractors, ready to assist our clients in securing top-notch talent promptly.   I extend my heartfelt gratitude to all who have contributed to this survey and supported Gateway Recruiting over the years. Your ongoing participation has cemented this survey as an industry standard for over 15 years, and we remain dedicated to providing invaluable data to the Trade Compliance community. Should you encounter challenges in hiring for your organization—whether for full-time positions or contract roles—please feel free to reach out to me or any of our dedicated team members. We're always prepared to help grow your team or replace team members who have left.   Here's to another year of growth and collaboration, and once again, thank you for your unwavering support of Gateway Recruiting!   Warm regards, Garrett Stephenson President, Gateway Recruiting Garrett@GatewayRecruiting.com

How to expand your team globally without the headache of international tax and labor laws...? Partnering up with an employer of record (EOR) might be the answer! We all know how complex it is to hire internationally, with all this red tape and potential risks—it can be overwhelming. No worries, though. EOR services step in as your legal ally, simplifying the entire process and unlocking a world of opportunities for your business. So, what are the main responsibilities of an EOR, its benefits, and potential risks? Read our latest article to learn more: https://lnkd.in/d7JVe7gh

I've had a lot of conversations over the last 24 hours with clients and candidates alike about the new FTC ban on non-compete clauses. Here are my thoughts on how it could affect hiring: 1. Increased Talent Mobility: Without non-compete clauses, employees will be able to move more freely between companies. This could lead to more rapid dissemination of ideas and practices, potentially accelerating innovation and growth. 2. Recruitment Opportunities: Companies may find it easier to recruit top talent from competitors, as potential hires will no longer be restricted by non-compete agreements. This could lead to a more dynamic job market. 3. Retention Challenges: On the flip side, companies might face greater challenges in retaining their best employees, who could be more easily poached by competitors offering better terms or opportunities. This might lead to an increase in salary offers and benefits to retain key personnel. 4. Shift in Competitive Dynamics: The absence of non-competes might encourage companies to invest more in training and development, as they seek to make themselves more attractive employers. It could also lead to a shift towards other methods of protecting intellectual property and maintaining competitive advantage, such as increased use of confidentiality agreements. 5. Legal and Compliance Adjustments: Companies will need to review and possibly revise their employment contracts and HR policies to comply with the new regulations. This might involve legal costs and adjustments to existing contracts. Overall, there's a long path ahead before we fully understand the implications of this ban. It could, though, make the job market more competitive and fluid, influencing how companies approach talent management, intellectual property, and growth strategies. 💥 I'd love to hear your thoughts and opinions on this vote - share in the comments! #DigitalHealth #FTCBan #NonCompete #IndustryInsights #HealthTech

EOR Myths.... https://lnkd.in/eNdAJj9M "The most popular myth is that an EOR removes your control over your employees and organizational culture or lack thereof. This isn’t true." Surprisingly, this comes up a lot in conversations and contract discussions. An EOR takes care of all the back office functions and ensures in country compliance + setup. But we are not 'on site' controlling and managing the workers. The EOR is a legal vehicle to grow your companies footprint and hiring capabilities, but the client will still treat the worker as their own employee as if they were a direct hire. Send me an email to see how we can help broaden your geographical footprint and hiring capabilities - ryan.benson@people20.com

WARNING ⛔️ to all Recruitment Businesses! Does this sound familiar….. Supplier in Administration? PSL Pain Points for Recruitment Businesses Imagine this: you receive the dreaded news - a supplier on your Preferred Supplier List (PSL), specifically an umbrella payroll provider, has gone into administration. Panic sets in. But amidst the chaos, it's crucial to understand the potential risks this poses to your recruitment business. Here are some key threats to consider: 1. Compliance Nightmare: Tax liabilities: If the provider wasn't compliant, your agency could face hefty fines and legal repercussions for unpaid taxes and National Insurance contributions. Unpaid workers: Contractors under the administration might not receive their wages, leading to frustration, potential legal claims, and reputational damage. IR35 uncertainty: Confusion over contractor status amidst administration can trigger HMRC investigations and potential tax liabilities. 2. Operational Disruption: Onboarding freeze: You might have to halt placing candidates with the affected provider, impacting your business flow and potentially disappointing clients. Candidate chaos: Existing contractors relying on the provider may face payment delays, visa issues, and uncertainty, impacting morale and potentially leading to complaints. Administrative burden: Sorting through contracts, informing candidates, and finding alternative providers requires significant time and resources. 3. Reputational Fallout: Negative press: News of your association with an administrator could damage your brand image and erode client trust. Candidate backlash: Disgruntled contractors may share negative experiences online and through word-of-mouth, harming your reputation. Client concerns: Clients might question your due diligence and overall risk management, impacting future business opportunities. So, how can you mitigate these risks? Proactive due diligence: ComplyIN2 Thoroughly vet potential PSL providers, focusing on financial stability, compliance history, and robust contingency plans. Regular assessments: ComplyIN2 help conduct periodic reviews of PSL providers to ensure they remain compliant and financially sound. Contractual safeguards: Include clear clauses addressing supplier obligations and your agency's rights in case of administration. Contingency plan: Develop a plan for swiftly transitioning affected candidates to alternative providers, minimizing disruption and protecting your contractors. While unforeseen circumstances can arise, proactive measures can help safeguard your business and mitigate the impact of supplier administration. Contact ComplyIN2 for your supply chain compliance review. Charlie Collier SupplyIN2 Limited ComplyIN2 ContractIN2 WTT SafeRec Share your thoughts and experiences with PSL and supplier risks in the comments below! #payrollprovidercompliance #protectyourbusiness #duediligence

With an increasing number of states enacting laws that require employers to disclose pay information in job postings, it's essential for companies to stay compliant and competitive. Check out our latest blog post to learn more about these regulations and how your company can stay ahead.

WARNING ⛔️ to all Recruitment Businesses! Does this sound familiar….. Supplier in Administration? PSL Pain Points for Recruitment Businesses Imagine this: you receive the dreaded news - a supplier on your Preferred Supplier List (PSL), specifically an umbrella payroll provider, has gone into administration. Panic sets in. But amidst the chaos, it's crucial to understand the potential risks this poses to your recruitment business. Here are some key threats to consider: 1. Compliance Nightmare: Tax liabilities: If the provider wasn't compliant, your agency could face hefty fines and legal repercussions for unpaid taxes and National Insurance contributions. Unpaid workers: Contractors under the administration might not receive their wages, leading to frustration, potential legal claims, and reputational damage. IR35 uncertainty: Confusion over contractor status amidst administration can trigger HMRC investigations and potential tax liabilities. 2. Operational Disruption: Onboarding freeze: You might have to halt placing candidates with the affected provider, impacting your business flow and potentially disappointing clients. Candidate chaos: Existing contractors relying on the provider may face payment delays, visa issues, and uncertainty, impacting morale and potentially leading to complaints. Administrative burden: Sorting through contracts, informing candidates, and finding alternative providers requires significant time and resources. 3. Reputational Fallout: Negative press: News of your association with an administrator could damage your brand image and erode client trust. Candidate backlash: Disgruntled contractors may share negative experiences online and through word-of-mouth, harming your reputation. Client concerns: Clients might question your due diligence and overall risk management, impacting future business opportunities. So, how can you mitigate these risks? Proactive due diligence: ComplyIN2 Thoroughly vet potential PSL providers, focusing on financial stability, compliance history, and robust contingency plans. Regular assessments: ComplyIN2 help conduct periodic reviews of PSL providers to ensure they remain compliant and financially sound. Contractual safeguards: Include clear clauses addressing supplier obligations and your agency's rights in case of administration. Contingency plan: Develop a plan for swiftly transitioning affected candidates to alternative providers, minimizing disruption and protecting your contractors. While unforeseen circumstances can arise, proactive measures can help safeguard your business and mitigate the impact of supplier administration. Contact ComplyIN2 for your supply chain compliance review. Charlie Collier SupplyIN2 Limited ComplyIN2 ContractIN2 WTT SafeRec Share your thoughts and experiences with PSL and supplier risks in the comments below! #payrollprovidercompliance #protectyourbusiness #duediligence

WARNING ⛔️ to all Recruitment Businesses! Does this sound familiar….. Supplier in Administration? PSL Pain Points for Recruitment Businesses Imagine this: you receive the dreaded news - a supplier on your Preferred Supplier List (PSL), specifically an umbrella payroll provider, has gone into administration. Panic sets in. But amidst the chaos, it's crucial to understand the potential risks this poses to your recruitment business. Here are some key threats to consider: 1. Compliance Nightmare: Tax liabilities: If the provider wasn't compliant, your agency could face hefty fines and legal repercussions for unpaid taxes and National Insurance contributions. Unpaid workers: Contractors under the administration might not receive their wages, leading to frustration, potential legal claims, and reputational damage. IR35 uncertainty: Confusion over contractor status amidst administration can trigger HMRC investigations and potential tax liabilities. 2. Operational Disruption: Onboarding freeze: You might have to halt placing candidates with the affected provider, impacting your business flow and potentially disappointing clients. Candidate chaos: Existing contractors relying on the provider may face payment delays, visa issues, and uncertainty, impacting morale and potentially leading to complaints. Administrative burden: Sorting through contracts, informing candidates, and finding alternative providers requires significant time and resources. 3. Reputational Fallout: Negative press: News of your association with an administrator could damage your brand image and erode client trust. Candidate backlash: Disgruntled contractors may share negative experiences online and through word-of-mouth, harming your reputation. Client concerns: Clients might question your due diligence and overall risk management, impacting future business opportunities. So, how can you mitigate these risks? Proactive due diligence: ComplyIN2 Thoroughly vet potential PSL providers, focusing on financial stability, compliance history, and robust contingency plans. Regular assessments: ComplyIN2 help conduct periodic reviews of PSL providers to ensure they remain compliant and financially sound. Contractual safeguards: Include clear clauses addressing supplier obligations and your agency's rights in case of administration. Contingency plan: Develop a plan for swiftly transitioning affected candidates to alternative providers, minimizing disruption and protecting your contractors. While unforeseen circumstances can arise, proactive measures can help safeguard your business and mitigate the impact of supplier administration. Contact ComplyIN2 for your supply chain compliance review. Charlie Collier SupplyIN2 Limited ComplyIN2 ContractIN2 WTT SafeRec Share your thoughts and experiences with PSL and supplier risks in the comments below! #payrollprovidercompliance #protectyourbusiness #duediligence

DAILY RECRUITMENT DOSE: Decoding W-2 Compliance for IT Recruitment Transparency, accuracy, and timeliness are integral elements of W-2 Compliance in the IT recruiting field. Here are five effective strategies to manage this aspect of your recruitment process efficiently: Understand W-2 Basics: Familiarize yourself with the fundamentals of W-2 forms, including the various boxes and their meanings. This allows you to help candidates navigate their forms, promote transparency, and prevent misunderstandings. Streamline Your W-2 Distribution Process: W-2 forms must be sent to employees by January 31 each year. Using a trusted system for this task ensures punctuality and minimizes the potential for errors. Educate Your Employees: Develop a clear, easy-to-understand guide that explains the purpose of W-2 forms, their role in tax filing, and how to read them. Holding interactive sessions to answer queries can also help alleviate anxiety and confusion. Stay Updated on Tax Law Changes: Tax laws and regulations change periodically. Keeping abreast of these changes ensures you maintain compliance and provide candidates with accurate information. Leverage Technology: Using digital platforms to file W-2 forms can streamline the process, reducing the potential for human errors and ensuring efficient record-keeping. Implementing these strategies can significantly simplify the regulatory responsibilities associated with IT recruitment, ensuring compliance with W-2 requirements, and building trust with your candidates. #ITRecruitment #W2Compliance #RecruitingStrategies #DAILYRECRUITMENTDOSE